Assured Guaranty Ltd. (AGO) Sees Large Volume Increase
Assured Guaranty Ltd. (NYSE:AGO) saw unusually-strong trading volume on Wednesday . Approximately 1,320,894 shares traded hands during mid-day trading, an increase of 8% from the previous session’s volume of 1,220,676 shares.The stock last traded at $25.82 and had previously closed at $26.02.
A number of research analysts have commented on AGO shares. BTIG Research restated a “buy” rating and issued a $35.00 target price on shares of Assured Guaranty in a research note on Monday, April 18th. Zacks Investment Research downgraded Assured Guaranty from a “hold” rating to a “sell” rating in a research note on Friday, April 1st. Finally, MKM Partners set a $40.00 price target on Assured Guaranty and gave the stock a “buy” rating in a research note on Thursday, May 26th.
The stock has a 50 day moving average of $25.89 and a 200-day moving average of $25.25. The company has a market capitalization of $3.47 billion and a P/E ratio of 4.07.
Assured Guaranty (NYSE:AGO) last issued its quarterly earnings data on Wednesday, May 4th. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by $0.21. During the same period in the previous year, the company posted $0.89 EPS. The firm earned $245 million during the quarter, compared to the consensus estimate of $274.55 million. The firm’s revenue for the quarter was up 16.2% on a year-over-year basis. Analysts expect that Assured Guaranty Ltd. will post $2.70 earnings per share for the current year.
In other news, CEO Dominic Frederico acquired 13,000 shares of Assured Guaranty stock in a transaction dated Friday, May 13th. The stock was bought at an average price of $25.10 per share, for a total transaction of $326,300.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,199,550 shares in the company, valued at approximately $30,108,705. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Other large investors recently modified their holdings of the company. Globeflex Capital L P boosted its stake in shares of Assured Guaranty by 0.3% in the fourth quarter. Globeflex Capital L P now owns 50,922 shares of the company’s stock valued at $1,346,000 after buying an additional 147 shares during the period. Balasa Dinverno & Foltz LLC boosted its stake in shares of Assured Guaranty by 1.9% in the fourth quarter. Balasa Dinverno & Foltz LLC now owns 64,541 shares of the company’s stock valued at $1,706,000 after buying an additional 1,187 shares during the period. TD Asset Management Inc. boosted its stake in shares of Assured Guaranty by 8.0% in the fourth quarter. TD Asset Management Inc. now owns 40,581 shares of the company’s stock valued at $1,073,000 after buying an additional 3,000 shares during the period. California Public Employees Retirement System boosted its stake in shares of Assured Guaranty by 1.5% in the fourth quarter. California Public Employees Retirement System now owns 550,992 shares of the company’s stock valued at $14,563,000 after buying an additional 7,900 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in shares of Assured Guaranty by 1.4% in the fourth quarter. New York State Common Retirement Fund now owns 764,690 shares of the company’s stock valued at $20,211,000 after buying an additional 10,850 shares during the period.
Assured Guaranty Ltd. is a holding company. The Company provides, through its subsidiaries, credit protection products to the United States and international public finance, including infrastructure, and structured finance markets. It conducts its financial guaranty business on a direct basis through the companies, including Assured Guaranty Municipal Corp.
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