ValuEngine lowered shares of Assured Guaranty (NYSE:AGO) from a strong-buy rating to a buy rating in a report published on Friday.
Several other research analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods restated an outperform rating and set a $47.00 price target on shares of Assured Guaranty in a report on Wednesday, December 20th. MKM Partners reaffirmed a buy rating on shares of Assured Guaranty in a research report on Thursday, October 5th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $47.67.
Assured Guaranty (NYSE:AGO) opened at $35.38 on Friday. Assured Guaranty has a twelve month low of $32.97 and a twelve month high of $45.73. The firm has a market cap of $4,133.20, a PE ratio of 5.10 and a beta of 1.43. 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 announced that its Board of Directors has approved a stock repurchase program on Thursday, November 2nd that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
A number of hedge funds have recently made changes to their positions in AGO. JPMorgan Chase & Co. raised its position in Assured Guaranty by 58.3% in the third quarter. JPMorgan Chase & Co. now owns 1,772,951 shares of the financial services provider’s stock worth $67,780,000 after acquiring an additional 652,786 shares during the period. Wells Fargo & Company MN raised its position in Assured Guaranty by 75.6% in the third quarter. Wells Fargo & Company MN now owns 1,040,219 shares of the financial services provider’s stock worth $39,267,000 after acquiring an additional 447,968 shares during the period. APG Asset Management N.V. raised its position in Assured Guaranty by 219.0% in the fourth quarter. APG Asset Management N.V. now owns 652,100 shares of the financial services provider’s stock worth $18,393,000 after acquiring an additional 447,700 shares during the period. Janus Henderson Group PLC bought a new stake in Assured Guaranty in the second quarter worth about $9,622,000. Finally, Schwab Charles Investment Management Inc. raised its position in Assured Guaranty by 26.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 797,008 shares of the financial services provider’s stock worth $26,995,000 after acquiring an additional 164,215 shares during the period. 96.47% of the stock is currently owned by institutional investors and hedge funds.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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