Assured Guaranty Ltd. (AGO) Shares Gap Up to $26.35
Assured Guaranty Ltd. (NYSE:AGO) shares gapped up before the market opened on Friday . The stock had previously closed at $26.32, but opened at $26.35. Assured Guaranty shares last traded at $26.61, with a volume of 244,383 shares trading hands.
A number of brokerages have recently commented on AGO. BTIG Research reaffirmed a “buy” rating on shares of Assured Guaranty in a research report on Monday, June 20th. MKM Partners set a $40.00 price objective on shares of Assured Guaranty and gave the company a “buy” rating in a research report on Thursday, May 26th. Finally, Zacks Investment Research lowered shares of Assured Guaranty from a “hold” rating to a “sell” rating in a research report on Thursday, April 14th.
The stock has a 50-day moving average of $25.74 and a 200-day moving average of $25.25. The firm has a market capitalization of $3.57 billion and a PE ratio of 4.20.
Assured Guaranty (NYSE:AGO) last released its earnings results on Wednesday, May 4th. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by $0.21. The company had revenue of $245 million for the quarter, compared to analyst estimates of $274.55 million. During the same period in the prior year, the business posted $0.89 earnings per share. The company’s quarterly revenue was up 16.2% compared to the same quarter last year. On average, equities research analysts expect that Assured Guaranty Ltd. will post $2.70 EPS for the current fiscal year.
In other Assured Guaranty news, CEO Dominic Frederico bought 13,000 shares of the firm’s stock in a transaction that occurred on Friday, May 13th. The stock was acquired at an average price of $25.10 per share, with a total value of $326,300.00. Following the completion of the transaction, the chief executive officer now owns 1,199,550 shares in the company, valued at $30,108,705. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Several hedge funds and institutional investors have recently made changes to their positions in the stock. Thornburg Investment Management Inc. purchased a new position in shares of Assured Guaranty during the fourth quarter worth approximately $27,920,000. Cornerstone Capital Management Holdings LLC. purchased a new position in shares of Assured Guaranty during the fourth quarter worth approximately $13,212,000. Vanguard Group Inc. increased its position in shares of Assured Guaranty by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 11,922,714 shares of the company’s stock worth $315,118,000 after buying an additional 424,028 shares during the period. Robeco Institutional Asset Management B.V. increased its position in shares of Assured Guaranty by 67.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 220,924 shares of the company’s stock worth $5,840,000 after buying an additional 88,892 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Assured Guaranty by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,762,853 shares of the company’s stock worth $99,458,000 after buying an additional 72,630 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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