Zacks Investment Research cut shares of Allied World Assurance Co. (NYSE:AWH) from a strong-buy rating to a hold rating in a report published on Tuesday morning.

According to Zacks, “Allied World Assurance Company Holdings, Ltd, is one of Bermuda’s leading property and casualty insurers. The company, through its operating subsidiaries, offers property and casualty insurance and reinsurance on a worldwide basis. The principal operating subsidiaries of Allied World Assurance Company Holdings, Ltd have A Excellent ratings from A.M. Best Company and A- ratings from Standard and Poor’s. “

Analyst Recommendations for Allied World Assurance (NYSE:AWH)

AWH has been the subject of a number of other reports. BMO Capital Markets boosted their price target on Allied World Assurance from $33.00 to $39.00 and gave the company an underperform rating in a research note on Tuesday, July 26th. JPMorgan Chase & Co. started coverage on Allied World Assurance in a research note on Tuesday, June 28th. They set an overweight rating and a $41.00 price objective for the company. Barclays PLC boosted their price objective on Allied World Assurance from $35.00 to $40.00 and gave the company an equal weight rating in a research note on Wednesday, July 20th. Finally, MKM Partners boosted their price objective on Allied World Assurance from $40.00 to $45.00 and gave the company a buy rating in a research note on Wednesday, July 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Allied World Assurance currently has an average rating of Hold and an average price target of $41.75.

Allied World Assurance (NYSE:AWH) opened at 40.12 on Tuesday. The firm’s 50-day moving average is $40.26 and its 200-day moving average is $37.22. The company has a market capitalization of $3.50 billion, a PE ratio of 20.81 and a beta of 0.46. Allied World Assurance has a 12 month low of $30.29 and a 12 month high of $42.10.

Allied World Assurance (NYSE:AWH) last released its quarterly earnings results on Tuesday, July 19th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.52. The business earned $738.50 million during the quarter, compared to the consensus estimate of $626.95 million. Allied World Assurance had a return on equity of 6.65% and a net margin of 6.81%. Equities analysts anticipate that Allied World Assurance will post $2.78 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Tuesday, September 20th will be issued a $0.26 dividend. The ex-dividend date is Friday, September 16th. This represents a $1.04 dividend on an annualized basis and a yield of 2.59%. Allied World Assurance’s dividend payout ratio is presently 53.06%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. J.Safra Asset Management Corp acquired a new position in Allied World Assurance during the second quarter worth approximately $100,000. Societe Generale acquired a new position in Allied World Assurance during the second quarter worth approximately $122,000. Pacad Investment Ltd. boosted its position in Allied World Assurance by 6.1% in the first quarter. Pacad Investment Ltd. now owns 6,900 shares of the company’s stock worth $241,000 after buying an additional 398 shares in the last quarter. Laurion Capital Management LP acquired a new position in Allied World Assurance during the second quarter worth approximately $249,000. Finally, Steinberg Global Asset Management boosted its position in Allied World Assurance by 7.5% in the second quarter. Steinberg Global Asset Management now owns 7,125 shares of the company’s stock worth $250,000 after buying an additional 500 shares in the last quarter. 88.85% of the stock is currently owned by institutional investors.

About Allied World Assurance

Allied World Assurance Company Holdings Ltd is a holding company. The Company provides property, casualty and specialty insurance and reinsurance solutions to clients around the world. It operates in three segments: North American Insurance, Global Markets Insurance and Reinsurance. It leases space in Australia, Bermuda, Canada, England, Hong Kong, Ireland, Labuan, Singapore and the United States.

5 Day Chart for NYSE:AWH

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