Equities Analysts Offer Predictions for AGO FY2024 Earnings

Assured Guaranty Ltd. (NYSE:AGO - Free Report) - Roth Capital increased their FY2024 earnings estimates for shares of Assured Guaranty in a note issued to investors on Tuesday, November 12th. Roth Capital analyst H. Fong now anticipates that the financial services provider will post earnings per share of $7.30 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.

Assured Guaranty (NYSE:AGO - Get Free Report) last announced its quarterly earnings data on Monday, November 11th. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.42 by $1.00. Assured Guaranty had a return on equity of 11.58% and a net margin of 70.37%. The company had revenue of $269.00 million for the quarter, compared to analysts' expectations of $202.57 million. During the same quarter in the prior year, the business posted $3.42 EPS. The business's revenue was down 33.3% compared to the same quarter last year.

Other equities research analysts have also recently issued reports about the company. StockNews.com upgraded Assured Guaranty from a "sell" rating to a "hold" rating in a research note on Wednesday. UBS Group upped their target price on Assured Guaranty from $84.00 to $87.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th.

Assured Guaranty Stock Performance

Shares of NYSE:AGO traded up $2.59 on Thursday, reaching $91.54. 404,620 shares of the company's stock were exchanged, compared to its average volume of 382,893. Assured Guaranty has a twelve month low of $65.39 and a twelve month high of $96.60. The company has a fifty day moving average of $82.61 and a 200-day moving average of $79.57. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of 7.06 and a beta of 1.10. The company has a current ratio of 0.85, a quick ratio of 0.96 and a debt-to-equity ratio of 0.29.

Hedge Funds Weigh In On Assured Guaranty

Institutional investors have recently bought and sold shares of the business. Verition Fund Management LLC grew its position in shares of Assured Guaranty by 247.1% in the 3rd quarter. Verition Fund Management LLC now owns 18,853 shares of the financial services provider's stock worth $1,499,000 after buying an additional 13,422 shares during the last quarter. Captrust Financial Advisors acquired a new position in shares of Assured Guaranty in the third quarter worth about $281,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Assured Guaranty by 112.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 216,912 shares of the financial services provider's stock worth $17,249,000 after acquiring an additional 115,012 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Assured Guaranty by 221.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 45,380 shares of the financial services provider's stock valued at $3,609,000 after buying an additional 31,280 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Assured Guaranty by 50.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 434,173 shares of the financial services provider's stock worth $34,525,000 after buying an additional 146,107 shares during the last quarter. Institutional investors own 92.22% of the company's stock.

Insider Buying and Selling

In other Assured Guaranty news, CEO Dominic Frederico sold 31,000 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 1,380,119 shares of the company's stock, valued at approximately $110,423,321.19. This represents a 2.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Yukiko Omura sold 3,599 shares of the business's stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $79.73, for a total transaction of $286,948.27. Following the transaction, the director now owns 19,285 shares in the company, valued at $1,537,593.05. The trade was a 15.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dominic Frederico sold 31,000 shares of Assured Guaranty stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $80.01, for a total transaction of $2,480,310.00. Following the transaction, the chief executive officer now directly owns 1,380,119 shares of the company's stock, valued at approximately $110,423,321.19. This trade represents a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.10% of the stock is currently owned by corporate insiders.

Assured Guaranty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Friday, November 22nd. Assured Guaranty's dividend payout ratio (DPR) is 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.