Shares of Assured Guaranty Ltd. (NYSE:AGO) traded today at $56.95, eclipsing its 52-week high. So far today approximately 116,000 shares have been exchanged, as compared to an average 30-day volume of 482,000 shares.
Assured Guaranty Ltd offers financial guaranty insurance that protects holders of debt instruments and other monetary obligations from defaults in scheduled payments. In exchange for the insurance premiums the company collects, it is required to pay debtholders the amount of the shortfall in the event of default on a product it has insured. The company markets its insurance to issuers, underwriters, and investors in public finance and structured finance securities. Assured’s products guarantee a number of different types of public finance obligations, issued principally in the United States and the United Kingdom, but also in other regions such as Australia and Western Europe.
Assured Guaranty Ltd. share prices have moved between a 52-week high of $56.95 and a 52-week low of $25.79 and are now trading 119% above that low price at $56.49 per share.
There is potential upside of 2.5% for shares of Assured Guaranty Ltd. based on a current price of $56.49 and an average consensus analyst price target of $57.91.
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