Assured Guaranty (NYSE:AGO) Stock Rating Upgraded by Keefe, Bruyette & Woods

Assured Guaranty (NYSE:AGOGet Free Report) was upgraded by research analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports. The brokerage currently has a $92.00 price target on the financial services provider’s stock, up from their previous price target of $87.00. Keefe, Bruyette & Woods’ target price indicates a potential upside of 14.12% from the company’s current price.

Assured Guaranty Price Performance

AGO stock opened at $80.62 on Tuesday. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of 6.23 and a beta of 1.11. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.30. Assured Guaranty has a 12-month low of $55.24 and a 12-month high of $96.60. The company’s fifty day simple moving average is $77.28 and its 200 day simple moving average is $80.69.

Assured Guaranty (NYSE:AGOGet Free Report) last released its earnings results on Tuesday, May 7th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.55. Assured Guaranty had a net margin of 57.45% and a return on equity of 12.48%. The business had revenue of $245.00 million for the quarter, compared to analyst estimates of $194.78 million. During the same quarter in the previous year, the business earned $1.12 earnings per share. Assured Guaranty’s revenue for the quarter was down 13.4% on a year-over-year basis. On average, analysts expect that Assured Guaranty will post 6.45 earnings per share for the current year.

Insider Transactions at Assured Guaranty

In other news, CEO Dominic Frederico sold 40,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $78.12, for a total transaction of $3,124,800.00. Following the completion of the sale, the chief executive officer now directly owns 1,410,824 shares of the company’s stock, valued at $110,213,570.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Assured Guaranty news, COO Robert Bailenson sold 30,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $79.94, for a total value of $2,398,200.00. Following the transaction, the chief operating officer now directly owns 304,835 shares in the company, valued at $24,368,509.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Dominic Frederico sold 40,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $78.12, for a total transaction of $3,124,800.00. Following the completion of the transaction, the chief executive officer now owns 1,410,824 shares in the company, valued at $110,213,570.88. The disclosure for this sale can be found here. Insiders sold a total of 73,901 shares of company stock valued at $5,834,807 over the last three months. Corporate insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AGO. CWM LLC lifted its stake in shares of Assured Guaranty by 535.9% during the 2nd quarter. CWM LLC now owns 1,965 shares of the financial services provider’s stock valued at $152,000 after buying an additional 1,656 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Assured Guaranty by 284.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 41,475 shares of the financial services provider’s stock valued at $3,200,000 after buying an additional 30,673 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Assured Guaranty by 55.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,054 shares of the financial services provider’s stock valued at $81,000 after buying an additional 377 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Assured Guaranty by 14.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,164 shares of the financial services provider’s stock valued at $90,000 after buying an additional 147 shares in the last quarter. Finally, EULAV Asset Management purchased a new stake in shares of Assured Guaranty during the 1st quarter valued at approximately $3,664,000. 92.22% of the stock is currently owned by hedge funds and other institutional investors.

About Assured Guaranty

(Get Free Report)

Assured Guaranty Ltd., together with its subsidiaries, provides credit protection products to public finance, infrastructure, and structured finance markets in the United States and internationally. It operates through two segments: Insurance and Asset Management. The company offers financial guaranty insurance that protects holders of debt instruments and other monetary obligations from defaults in scheduled payments.

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