Assured Guaranty (AGO) Stock Rating Reaffirmed by Keefe, Bruyette & Woods

Assured Guaranty (NYSE:AGO)‘s stock had its “outperform” rating reiterated by equities research analysts at Keefe, Bruyette & Woods in a report issued on Wednesday. They presently have a $47.00 price objective on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 35.76% from the stock’s previous close.

Several other brokerages have also issued reports on AGO. MKM Partners reissued a “buy” rating on shares of Assured Guaranty in a research report on Thursday, October 5th. UBS reissued a “buy” rating and issued a $47.00 target price (down previously from $49.00) on shares of Assured Guaranty in a research report on Wednesday, October 4th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $48.25.

Assured Guaranty (NYSE AGO) opened at $34.62 on Wednesday. The company has a market capitalization of $3,996.95, a P/E ratio of 6.03 and a beta of 1.64. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.19. Assured Guaranty has a 52-week low of $33.55 and a 52-week high of $45.73.

Assured Guaranty (NYSE:AGO) last released its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.51. The business had revenue of $623.00 million during the quarter, compared to analyst estimates of $262.09 million. Assured Guaranty had a return on equity of 10.59% and a net margin of 45.38%. Assured Guaranty’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.74 EPS.

Assured Guaranty declared that its Board of Directors has initiated a stock repurchase program on Thursday, November 2nd that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Several large investors have recently made changes to their positions in the company. Parametric Portfolio Associates LLC raised its position in shares of Assured Guaranty by 17.6% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 392,052 shares of the financial services provider’s stock worth $14,800,000 after acquiring an additional 58,705 shares in the last quarter. AXA raised its position in shares of Assured Guaranty by 0.4% in the 3rd quarter. AXA now owns 474,265 shares of the financial services provider’s stock worth $17,904,000 after acquiring an additional 1,700 shares in the last quarter. GSA Capital Partners LLP raised its position in shares of Assured Guaranty by 128.6% in the 3rd quarter. GSA Capital Partners LLP now owns 35,526 shares of the financial services provider’s stock worth $1,341,000 after acquiring an additional 19,986 shares in the last quarter. California Public Employees Retirement System grew its stake in shares of Assured Guaranty by 3.6% in the 3rd quarter. California Public Employees Retirement System now owns 532,102 shares of the financial services provider’s stock worth $20,087,000 after buying an additional 18,410 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Assured Guaranty in the 3rd quarter worth approximately $2,833,000. 95.84% of the stock is owned by hedge funds and other institutional investors.

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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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