Assured Guaranty Ltd. (AGO) Shares Gap Up to $26.35
Shares of Assured Guaranty Ltd. (NYSE:AGO) 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 changing hands.
A number of analysts have recently issued reports on the stock. BTIG Research reiterated a “buy” rating on shares of Assured Guaranty in a research note 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 note on Thursday, May 26th. Finally, Zacks Investment Research lowered shares of Assured Guaranty from a “hold” rating to a “sell” rating in a research note on Thursday, April 14th.
The firm has a 50 day moving average price of $25.74 and a 200-day moving average price of $25.25. The company has a market capitalization of $3.57 billion and a price-to-earnings 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 the Thomson Reuters’ consensus estimate of $0.64 by $0.21. The business earned $245 million during the quarter, compared to the consensus estimate of $274.55 million. During the same quarter in the previous year, the business posted $0.89 earnings per share. Assured Guaranty’s quarterly revenue was up 16.2% on a year-over-year basis. On average, 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 stock in a transaction on Friday, May 13th. The shares were bought at an average price of $25.10 per share, with a total value of $326,300.00. Following the purchase, the chief executive officer now directly owns 1,199,550 shares in the company, valued at approximately $30,108,705. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Other institutional investors have added to or reduced their stakes in the company. Thornburg Investment Management Inc. acquired a new position in Assured Guaranty during the fourth quarter valued at $27,920,000. First Trust Advisors LP boosted its position in Assured Guaranty by 4.9% in the fourth quarter. First Trust Advisors LP now owns 391,075 shares of the company’s stock valued at $10,336,000 after buying an additional 18,283 shares during the period. Schroder Investment Management Group boosted its position in Assured Guaranty by 3.8% in the fourth quarter. Schroder Investment Management Group now owns 1,680,751 shares of the company’s stock valued at $44,422,000 after buying an additional 62,000 shares during the period. Balasa Dinverno & Foltz LLC boosted its position in 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. Finally, Boston Partners boosted its position in Assured Guaranty by 5.3% in the fourth quarter. Boston Partners now owns 700,280 shares of the company’s stock valued at $18,508,000 after buying an additional 35,275 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.