Assured Guaranty Q2 net income rises to $103 mln
Overview
Assured Guaranty Q2 net income rises to $103 mln, $2.08 per share
Q2 adjusted operating income falls to $50 mln, $1.01 per share
Co returned $150 mln to shareholders, increased share repurchase by $300 mln
Result Drivers
HIGHER LOSS EXPENSES - Adjusted operating income decreased due to higher loss expenses in U.S. and non-U.S. public finance sectors
LOWER FAIR VALUE GAINS - Decrease in adjusted operating income also attributed to lower fair value gains on trading securities
INVESTMENT INCOME - Net investment income increased, driven by CLO equity tranches, despite lower short-term investment income
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Gross Written Premiums |
| $85 mln |
|
Q2 EPS |
| $2.08 |
|
Q2 Net Income |
| $103 mln |
|
Q2 Adjusted EBIT |
| $50 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the property & casualty insurance peer group is "buy"
Wall Street's median 12-month price target for Assured Guaranty Ltd is $107.50, about 19.8% above its August 6 closing price of $86.17
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 12 three months ago
Press Release: ID:nBw2x3T3Ya
