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

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)

Other analysts also recently issued reports about the company. MKM Partners upped 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. Barclays PLC increased their target price on Allied World Assurance from $35.00 to $40.00 and gave the stock an equal weight rating in a research note on Wednesday, July 20th. JPMorgan Chase & Co. initiated coverage on Allied World Assurance in a research note on Tuesday, June 28th. They set an overweight rating and a $41.00 target price for the company. Finally, BMO Capital Markets increased their target price on Allied World Assurance from $33.00 to $39.00 and gave the stock an underperform rating in a research note on Tuesday, July 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. Allied World Assurance has a consensus rating of Hold and a consensus target price of $41.75.

Allied World Assurance (NYSE:AWH) opened at 41.33 on Tuesday. Allied World Assurance has a 12 month low of $30.29 and a 12 month high of $42.10. The company’s 50-day moving average price is $40.28 and its 200-day moving average price is $37.28. The stock has a market cap of $3.61 billion, a P/E ratio of 21.44 and a beta of 0.46.

Allied World Assurance (NYSE:AWH) last posted its quarterly earnings data on Tuesday, July 19th. The company reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.52. The firm 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 forecast that Allied World Assurance will post $2.78 earnings per share for the current year.

The company 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. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Friday, September 16th. Allied World Assurance’s dividend payout ratio is currently 53.06%.

Several large investors have recently added to or reduced their stakes in the company. J.Safra Asset Management Corp purchased a new stake in Allied World Assurance during the second quarter worth $100,000. Societe Generale purchased a new stake in Allied World Assurance during the second quarter worth $122,000. Pacad Investment Ltd. boosted its stake 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 purchased a new stake in Allied World Assurance during the second quarter worth $249,000. Finally, Steinberg Global Asset Management boosted its stake 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. Institutional investors and hedge funds own 88.85% of the company’s stock.

Allied World Assurance Company Profile

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.

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