Allied World Assurance Co. (AWH) Sees Unusually-High Trading Volume
Allied World Assurance Co. (NYSE:AWH) saw strong trading volume on Wednesday . 759,949 shares changed hands during trading, an increase of 74% from the previous session’s volume of 436,150 shares.The stock last traded at $40.97 and had previously closed at $40.12.
A number of research analysts have recently weighed in on the company. Zacks Investment Research cut Allied World Assurance from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. BMO Capital Markets lifted their price objective on Allied World Assurance from $33.00 to $39.00 and gave the company an “underperform” rating in a research report on Tuesday, July 26th. Barclays PLC lifted their price objective on Allied World Assurance from $35.00 to $40.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 20th. MKM Partners lifted their price objective on Allied World Assurance from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, July 20th. Finally, JPMorgan Chase & Co. assumed coverage on Allied World Assurance in a research report on Tuesday, June 28th. They set an “overweight” rating and a $41.00 price objective on the stock. One investment 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. The company has a consensus rating of “Hold” and a consensus price target of $41.75.
The company has a 50-day moving average price of $40.26 and a 200-day moving average price of $37.25. The firm has a market cap of $3.58 billion, a P/E ratio of 21.25 and a beta of 0.46.
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Allied World Assurance (NYSE:AWH) last announced its quarterly earnings data on Tuesday, July 19th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.52. The business had revenue of $738.50 million for the quarter, compared to analyst estimates 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 Co. will post $2.78 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders 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 2.54%. The ex-dividend date is Friday, September 16th. Allied World Assurance’s dividend payout ratio is presently 53.06%.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. J.Safra Asset Management Corp purchased a new position in shares of Allied World Assurance during the second quarter worth $100,000. Societe Generale purchased a new position in shares of Allied World Assurance during the second quarter worth $122,000. Pacad Investment Ltd. raised its position 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 worth $241,000 after buying an additional 398 shares in the last quarter. Laurion Capital Management LP purchased a new position in shares of Allied World Assurance during the second quarter worth $249,000. Finally, Steinberg Global Asset Management raised its position 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 worth $250,000 after buying an additional 500 shares in the last quarter. 88.85% of the stock is currently owned by institutional investors and hedge funds.
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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