Assured Guaranty Ltd. (NYSE:AGO) shares reached a new 52-week low on Wednesday . The company traded as low as $33.50 and last traded at $34.03, with a volume of 935400 shares trading hands. The stock had previously closed at $33.87.
A number of research analysts have recently weighed in on the company. MKM Partners reaffirmed a “buy” rating on shares of Assured Guaranty in a research report on Thursday, October 5th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $47.00 price objective on shares of Assured Guaranty in a research report on Wednesday, December 20th. Finally, UBS Group reaffirmed a “buy” rating and set a $47.00 price objective (down 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 assigned a buy rating to the company. Assured Guaranty presently has a consensus rating of “Buy” and a consensus price target of $48.25.
The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $3,907.69, a PE ratio of 4.87 and a beta of 1.64.
Assured Guaranty declared that its board has approved a share buyback program on Thursday, November 2nd that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
A number of hedge funds and other institutional investors have recently bought and sold shares of AGO. Tower Research Capital LLC TRC lifted its holdings in Assured Guaranty by 962.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,250 shares of the financial services provider’s stock worth $177,000 after purchasing an additional 3,850 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Assured Guaranty by 11.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,150 shares of the financial services provider’s stock worth $215,000 after acquiring an additional 539 shares during the last quarter. Quantum Capital Management bought a new stake in Assured Guaranty in the 2nd quarter worth approximately $218,000. FineMark National Bank & Trust bought a new stake in Assured Guaranty in the 3rd quarter worth approximately $259,000. Finally, 1st Global Advisors Inc. bought a new stake in Assured Guaranty in the 2nd quarter worth approximately $414,000. 95.84% of the stock is currently owned by institutional investors.
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Assured Guaranty Company Profile
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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