Allied World Assurance Co. (NYSE:AWH) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued 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. “

AWH has been the subject of several other research reports. BMO Capital Markets increased their target price on shares of Allied World Assurance from $33.00 to $39.00 and gave the stock an “underperform” rating in a research note on Tuesday, July 26th. JPMorgan Chase & Co. began coverage on shares of 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. Barclays PLC increased their target price on shares of 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. Finally, MKM Partners increased their target price on shares of Allied World Assurance from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, July 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $41.75.

Analyst Recommendations for Allied World Assurance (NYSE:AWH)

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Allied World Assurance (NYSE:AWH) traded up 0.33% during mid-day trading on Tuesday, reaching $40.12. 396,448 shares of the company’s stock traded hands. The stock’s 50 day moving average is $40.27 and its 200-day moving average is $37.18. The stock 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 52 week low of $30.29 and a 52 week high of $42.10.

Allied World Assurance (NYSE:AWH) last announced its earnings results on Tuesday, July 19th. The company reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.52. The company earned $738.50 million during the quarter, compared to analyst estimates of $626.95 million. Allied World Assurance had a net margin of 6.81% and a return on equity of 6.65%. On average, equities analysts anticipate that Allied World Assurance will post $2.78 EPS for the current year.

The company also recently announced 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 annualized dividend and a yield of 2.59%. Allied World Assurance’s dividend payout ratio (DPR) is 53.06%.

A number of hedge funds have recently modified their holdings of the stock. J.Safra Asset Management Corp purchased a new stake in shares of Allied World Assurance during the second quarter valued at $100,000. Societe Generale purchased a new stake in shares of Allied World Assurance during the second quarter valued at $122,000. Pacad Investment Ltd. boosted its stake in shares of Allied World Assurance by 6.1% in the first quarter. Pacad Investment Ltd. now owns 6,900 shares of the company’s stock valued at $241,000 after buying an additional 398 shares during the period. Laurion Capital Management LP purchased a new stake in shares of Allied World Assurance during the second quarter valued at $249,000. Finally, Steinberg Global Asset Management boosted its stake in shares of Allied World Assurance by 7.5% in the second quarter. Steinberg Global Asset Management now owns 7,125 shares of the company’s stock valued at $250,000 after buying an additional 500 shares during the period. 88.88% of the stock is currently owned by hedge funds and other 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.

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