Roth Capital Has Positive Forecast for AGO FY2024 Earnings

Assured Guaranty Ltd. (NYSE:AGO) – Equities research analysts at Roth Capital increased their FY2024 EPS estimates for shares of Assured Guaranty in a report released on Tuesday, November 12th. Roth Capital analyst H. Fong now forecasts that the financial services provider will post earnings of $7.30 per share for the year, up from their previous estimate of $6.30. The consensus estimate for Assured Guaranty’s current full-year earnings is $6.30 per share.

Other analysts also recently issued research reports about the stock. StockNews.com upgraded shares of Assured Guaranty from a “sell” rating to a “hold” rating in a report on Wednesday. UBS Group lifted their price objective on Assured Guaranty from $84.00 to $87.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th.

Assured Guaranty Price Performance

Shares of AGO opened at $88.95 on Thursday. The firm has a 50-day simple moving average of $82.61 and a two-hundred day simple moving average of $79.57. The stock has a market cap of $4.68 billion, a PE ratio of 6.91 and a beta of 1.10. Assured Guaranty has a 1-year low of $65.39 and a 1-year high of $96.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.85 and a quick ratio of 0.96.

Assured Guaranty (NYSE:AGO) last announced its quarterly earnings results on Monday, November 11th. The financial services provider reported $2.42 EPS for the quarter, beating the consensus estimate of $1.42 by $1.00. The business had revenue of $269.00 million for the quarter, compared to analyst estimates of $202.57 million. Assured Guaranty had a return on equity of 11.58% and a net margin of 70.37%. The company’s quarterly revenue was down 33.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.42 EPS.

Institutional Trading of Assured Guaranty

Several institutional investors and hedge funds have recently made changes to their positions in the company. River Road Asset Management LLC acquired a new position in Assured Guaranty in the 3rd quarter valued at $53,026,000. AQR Capital Management LLC boosted its holdings in Assured Guaranty by 82.6% in the 2nd quarter. AQR Capital Management LLC now owns 662,354 shares of the financial services provider’s stock valued at $51,101,000 after purchasing an additional 299,658 shares in the last quarter. LRI Investments LLC acquired a new position in Assured Guaranty during the 1st quarter worth approximately $25,554,000. American Century Companies Inc. raised its stake in shares of Assured Guaranty by 37.4% during the 2nd quarter. American Century Companies Inc. now owns 678,182 shares of the financial services provider’s stock worth $52,322,000 after buying an additional 184,621 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Assured Guaranty by 50.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 434,173 shares of the financial services provider’s stock valued at $34,525,000 after buying an additional 146,107 shares during the period. 92.22% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Assured Guaranty

In other news, CEO Dominic Frederico sold 31,000 shares of Assured Guaranty stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $80.01, for a total value of $2,480,310.00. Following the completion of the transaction, the chief executive officer now owns 1,380,119 shares in the company, valued at approximately $110,423,321.19. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Assured Guaranty news, CEO Dominic Frederico sold 31,000 shares of Assured Guaranty stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $80.01, for a total transaction of $2,480,310.00. Following the completion of the sale, the chief executive officer now directly owns 1,380,119 shares of the company’s stock, valued at $110,423,321.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Yukiko Omura sold 3,599 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $79.73, for a total value of $286,948.27. Following the transaction, the director now directly owns 19,285 shares of the company’s stock, valued at approximately $1,537,593.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.10% of the company’s stock.

Assured Guaranty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be given a $0.31 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.24 annualized dividend and a yield of 1.39%. Assured Guaranty’s dividend payout ratio is presently 9.63%.

Assured Guaranty Company Profile

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.