Assured Guaranty (AGO +6%) has its tail in the air after reporting operating income of $132M or $0.72 per share against estimates for $0.62, and a boost in book value to $34.45 from $33.83. Adjusted book value of $49.79 rose from $49.58.
The company also repurchased 1.4M shares in Q1 at an average price of $25.92 each. Through May 7, the company has repurchased 3M shares at an average price of $25.19. The float is just over 180M shares.