- Q1 operating income of $140M or $0.89 per share vs. $132M and $0.72 a year ago.
- Adjusted book value per share of $54.66 up $1 from start of quarter.
- Share repurchases of 5.9M shares at an average price of $25.87, a total of $152M. Another $400M of buybacks was authorized this week. Repurchases so far in Q2 of 2M shares for $27.36 each, total of $56M.
- BTIG reiterates its Buy rating and boosts the price target to $41 from $40, the team there noting the aggressive stock buybacks at well below book value while the market frets over exposure to Puerto Rico.
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AGO +4.5%