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AGO — Assured Guaranty News Story

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Brief: Assured Guaranty Q2 Net Income USD 103 Million

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

MetricBeat/MissActualConsensus 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 (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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