Assured Guaranty Ltd. (AGO) Shares Gap Down on Analyst Downgrade

Assured Guaranty Ltd. (NYSE:AGO) gapped down prior to trading on Wednesday after BidaskClub downgraded the stock from a buy rating to a hold rating. The stock had previously closed at $39.88, but opened at $38.69. Assured Guaranty shares last traded at $37.58, with a volume of 3,396,275 shares changing hands.

Several other equities research analysts have also weighed in on the company. BTIG Research reiterated a “buy” rating and issued a $49.00 price objective on shares of Assured Guaranty in a research note on Friday, July 14th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $42.00 price objective on shares of Assured Guaranty in a research note on Thursday, April 6th. Finally, UBS AG reiterated a “buy” rating and issued a $45.00 price objective (up from $44.00) on shares of Assured Guaranty in a research note on Wednesday, May 17th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $47.00.

Several hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its stake in shares of Assured Guaranty by 2.3% in the 1st quarter. Parallel Advisors LLC now owns 3,788 shares of the financial services provider’s stock valued at $144,000 after purchasing an additional 84 shares during the period. Bank of Hawaii grew its position in Assured Guaranty by 1.2% during the 2nd quarter. Bank of Hawaii now owns 15,510 shares of the financial services provider’s stock worth $647,000 after acquiring an additional 180 shares during the last quarter. ETRADE Capital Management LLC grew its position in Assured Guaranty by 4.4% during the 2nd quarter. ETRADE Capital Management LLC now owns 11,509 shares of the financial services provider’s stock worth $480,000 after acquiring an additional 485 shares during the last quarter. Sawtooth Solutions LLC grew its position in Assured Guaranty by 7.4% during the 2nd quarter. Sawtooth Solutions LLC now owns 7,181 shares of the financial services provider’s stock worth $300,000 after acquiring an additional 492 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position in Assured Guaranty by 5.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 9,898 shares of the financial services provider’s stock worth $367,000 after acquiring an additional 500 shares during the last quarter. Institutional investors own 96.71% of the company’s stock.

The company has a 50 day moving average price of $41.23 and a 200-day moving average price of $40.75. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of 4.22 and a beta of 1.65.

Assured Guaranty (NYSE:AGO) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.44. Assured Guaranty had a net margin of 61.25% and a return on equity of 16.00%. The company had revenue of $308.00 million during the quarter, compared to the consensus estimate of $288.15 million. During the same period in the previous year, the business earned $1.03 earnings per share. The firm’s quarterly revenue was down 22.2% on a year-over-year basis. Equities research analysts anticipate that Assured Guaranty Ltd. will post $4.89 earnings per share for the current year.

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About Assured Guaranty

Assured Guaranty Ltd. is a holding company. The Company, through its subsidiaries, provides credit protection products to the United States and international public finance, including infrastructure, and structured finance markets. It applies its credit underwriting judgment, risk management skills and capital markets experience primarily to offer financial guaranty insurance that protects holders of debt instruments and other monetary obligations from defaults in scheduled payments.

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