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Assured Guaranty Ltd. (NYSE: AGO) is a leading provider of financial guaranty insurance. The company guarantees the timely payment of scheduled principal and interest on municipal, public infrastructure, and structured finance obligations. Operating primarily through its subsidiaries, Assured Guaranty serves both the U.S. and international markets, offering credit enhancement products that improve the creditworthiness of bonds and other financial instruments.
Assured Guaranty operates in two main segments: Insurance and Asset Management. The Insurance segment predominantly drives the company's revenue by insuring municipal bonds and infrastructure projects, while the Asset Management segment focuses on managing assets across collateralized loan obligations and other investment funds.
The company's recent activities highlight its robust market presence and strategic initiatives. For instance, Assured Guaranty Municipal Corp. (AGM) insured $800 million in bonds for the New York Transportation Development Corporation to support the JFK Airport's New Terminal One Project. Additionally, Assured Guaranty (Europe) SA secured a €93.7 million loan for Metro de Madrid, demonstrating its significant role in facilitating major infrastructure projects.
Financially, Assured Guaranty remains strong, with a solid track record of profitability and shareholder value enhancement. The company declared a quarterly dividend increase to $0.31 per common share, reflecting its commitment to returning value to shareholders. Furthermore, Assured Guaranty's financial performance in the fourth quarter of 2023 was impressive, with GAAP net income of $376 million and adjusted operating income of $338 million.
Assured Guaranty's strategic transactions, such as its collaboration with Sound Point Capital Management, indicate its proactive approach to expanding its asset management capabilities. These efforts position the company well for future growth and underscore its adaptability in a dynamic financial landscape.
For more information, visit AssuredGuaranty.com.
Assured Guaranty Ltd. reported strong financial results for Q4 2021, posting a net income of $263 million ($3.74 per share) and a record shareholders’ equity per share of $93.19. The company achieved an adjusted operating income of $273 million ($3.88 per share) for the quarter and $470 million ($6.32 per share) for the full year 2021. Capital returned to shareholders reached $562 million in FY 2021, with significant share repurchases. The Insurance segment saw adjusted operating income of $722 million for FY 2021. However, the Asset Management segment continued to face challenges with an adjusted operating loss of $19 million for the year.
Assured Guaranty Ltd. (NYSE: AGO) has declared a quarterly dividend of
The dividend payment is scheduled for
Assured Guaranty Ltd. (NYSE:AGO) will release its financial results for the full year and fourth quarter ending December 31, 2021 on February 24, 2022, at 4:00 p.m. ET. The press release will be accessible on the company’s website. An investor conference call is scheduled for February 25, 2022, at 8:00 a.m. ET, with a replay available until May 25, 2022. Assured Guaranty offers credit enhancement products for public finance and asset management services internationally.
Holly Horn has been appointed as the new Chief Surveillance Officer of Assured Guaranty Ltd. (NYSE:AGO), effective January 1, 2022. Concurrently, Jorge Gana is now the Deputy Chief Risk Officer, and Chris Gibbons will head Information Technology. Russell Brewer II transitions to Senior Advisor to the CEO. Notably, Horn has played a vital role in negotiating Puerto Rico’s bankruptcy issues, while Gana focuses on environmental aspects of ESG efforts. These changes reflect strategic leadership transitions aimed at strengthening the company's risk management and surveillance capabilities.
Assured Guaranty Ltd. reported third-quarter 2021 net income of $17 million ($0.22 per share), impacted by a $175 million loss from debt extinguishment. Despite the loss, the company achieved record highs in adjusted operating income at $34 million ($0.45 per share) and shareholders’ equity at $88.42 per share. The insurance segment saw a significant increase in adjusted operating income of 164% year-over-year, reaching $214 million, driven by favorable loss developments. The firm returned $156 million to shareholders, including $140 million in share repurchases.
Assured Guaranty Ltd. (NYSE:AGO) declared a quarterly dividend of
Assured Guaranty Ltd. (NYSE: AGO) has received an upgrade from Kroll Bond Rating Agency (KBRA), raising the financial strength rating of its subsidiary Assured Guaranty Corp. (AGC) from AA to AA+. The upgrade, announced on October 20, reflects AGC's strong capital position and effective management practices. Additionally, ratings for Assured Guaranty Municipal Corp. and its U.K. and European subsidiaries were affirmed at AA+, with stable outlooks. The ratings reflect robust claims-paying resources and a high penetration in the municipal bond market.
Assured Guaranty Ltd. (NYSE: AGO) will release its financial results for Q3 2021 on November 4, 2021, at 4:00 p.m. ET. The financial supplement will be available online. An investor conference call is scheduled for November 5, 2021, at 8:00 a.m. ET, accessible via live and archived webcast on the company's website. A replay will be available until February 3, 2022. Assured Guaranty provides credit enhancement products in public finance and structured finance sectors.
Assured Guaranty Ltd. (NYSE: AGO) announced a $400 million issuance of 3.600% Senior Notes due 2051 on August 20, 2021. The funds will be utilized to redeem existing higher-coupon debt securities. On September 27, 2021, the company will redeem $400 million in outstanding notes, including $100 million of 5.60% Notes due July 15, 2103, $130 million of 6.25% Notes due November 1, 2102, and $170 million of 5.000% Senior Notes due July 1, 2024. The redemption prices will include accrued interest up to the redemption date.
Assured Guaranty UK Limited (AGUK) has guaranteed principal and interest payments on £113 million in bonds issued by ULiving@Essex3 LLP to finance new student accommodation at the University of Essex. The 45-year bonds, expected to receive an AA rating from S&P Global Ratings, were sold to UK investors. This marks AGUK's third successful financing for the university. Construction will be managed by Bouygues (U.K.) Limited, and the project will enhance on-campus accommodations by adding 1,262 bed spaces. AGUK's guarantee aims to provide efficient financing and low capital charges for investors.
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