Assured Guaranty
Insures municipal and structured-finance obligations while participating in asset management.
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Profile
Provides financial-guaranty insurance for U.S. and non-U.S. public-finance, infrastructure and structured-finance markets. The Bermuda holding company also participates in asset management and has added a life-and-annuity reinsurance platform.
Wholly owned insurance subsidiaries provide credit-protection products for public-finance, infrastructure and structured-finance markets in the United States and internationally. Financial-guaranty insurance protects holders of debt securities and other monetary obligations from scheduled-payment default.
Underwriting, exposure limits, credit policy, surveillance, risk management and financial-strength ratings shape the operating model. The insurance platform combines legacy monoline operations, including the former Assured Guaranty Municipal Corp., which merged into Assured Guaranty Inc. in 2024.
Asset-management participation comes through an ownership interest in the combined Sound Point Capital Management business. Assured Life Reinsurance, added in 2026, is planned to focus on fixed-term annuities and pension-risk-transfer annuities.
Company facts
Key statistics
Year to date −14.9% · Average volume (30d) 355.9K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| May 19, 2026 | UBS | Upgrade | Neutral | Buy | ||
| May 8, 2026 | Roth Capital | Target | $80 | |||
| Nov 17, 2025 | UBS | Reiterate | Neutral | $92 | $94 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | $1.51 | $1.23 | −18.5% | $205.0M | $195.0M | −4.9% | −8.65% |
| May 7, 2026Q1 FY26 | $1.50 | $2.50 | +66.7% | $208.6M | $261.0M | +25.1% | −8.95% |
| Feb 26, 2026Q4 FY25 | $1.54 | $2.32 | +50.6% | $205.8M | $277.0M | +34.6% | −0.50% |
| Nov 6, 2025Q3 FY25 | $1.54 | $2.42 | +57.1% | $196.8M | $199.0M | +1.1% | +6.52% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $325.0M | $278.0M | $199.0M | $213.0M | $261.0M | $197.0M | |
| Gross profit | $280.0M | $245.0M | $223.0M | $195.0M | $237.0M | $193.0M | |
| Operating income | $229.0M | $133.0M | $135.0M | $165.0M | $34.0M | $49.0M | |
| Net income | $176.0M | $103.0M | $105.0M | $119.0M | $88.0M | $39.0M | |
| Diluted EPS | $3.44 | $2.08 | $2.11 | $2.41 | $1.91 | $0.87 | |
| Gross margin | 86.2% | 88.1% | 112.1% | 91.5% | 90.8% | 98.0% | |
| Operating margin | 70.5% | 47.8% | 67.8% | 77.5% | 13.0% | 24.9% |
Fiscal years (4-quarter sums)FY21 $698.0M · FY22 $684.0M · FY23 $1.02B · FY24 $824.0M · FY25 $1.02B
Revenue by product · Q1 FY26
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $7.13B · Total debt $1.71B · Total assets $12.64B · Shareholders' equity $5.56B
Dividends
Raised for 20 straight years — most recently to $0.38 from $0.34 in Mar 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 20, 2026 | Aug 20 | Sep 3 | $0.38 | |
| May 15, 2026 | May 15 | May 29 | $0.38 | |
| Mar 6, 2026 | Mar 6 | Mar 20 | $0.38 | raised from $0.34 |
| Nov 19, 2025 | Nov 19 | Dec 3 | $0.34 | |
| Aug 20, 2025 | Aug 20 | Sep 3 | $0.34 | |
| May 16, 2025 | May 16 | May 30 | $0.34 | |
| Mar 5, 2025 | Mar 5 | Mar 19 | $0.34 | raised from $0.31 |
| Nov 22, 2024 | Nov 22 | Dec 6 | $0.31 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 44.28M · Float 41.54M · 93.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 5.79M | 13.07% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 3.97M | 8.95% | 13F | Aug 13, 2026 |
| Dimensional Fund Advisors LP | 3.03M | 6.84% | 13F | Aug 11, 2026 |
| Vanguard Capital Management LLC | 1.92M | 4.33% | 13F | Aug 13, 2026 |
| State Street Corp | 1.59M | 3.58% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 29, 2026 | Lorin Radtke | director | −1,047 | $74.32 |
| May 11, 2026 | Robert Bailenson | officer: Chief Operating Officer | −50,000 | $78.62 |
| Mar 30, 2026 | Francisco L. Borges | director | −123,750 | $80.22 |
| Mar 23, 2026 | Dominic Frederico | director, officer: President/CEO/Deputy Chairman | −29,998 | $81.41 |
| Mar 20, 2026 | Dominic Frederico | director, officer: President/CEO/Deputy Chairman | −20,002 | $81.06 |
Peers
- Reinsurance Group of America
Annuity, longevity and PRT reinsurance provider
- Apollo Global Management
Athene platform spans annuities, flow reinsurance and PRT
- KKR
Global Atlantic platform offers annuity and life reinsurance
- Brookfield Wealth Solutions
Life and annuity platform with pension-risk-transfer capacity
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Assured Guaranty | $75.53 | −0.03% | $3.34B | 10.3 | 11.3 | 3.8 | −2.0% |
| Reinsurance Group of America | $245.54 | −0.02% | $16.09B | 10.8 | 8.7 | 0.6 | +18.2% |
| Apollo Global Management | $135.48 | +0.35% | $77.78B | 30.2 | 13.8 | 2.2 | +63.7% |
| KKR | $108.40 | −0.21% | $97.58B | 34.2 | 16.3 | 4.6 | −44.8% |
| Brookfield Wealth Solutions | $41.37 | +0.15% | $13.76B | — | — | — | −52.6% |
| Median | 30.2 | 13.8 | 2.2 | −13.3% |