Aspen Insurance (AHL) Downgraded by Zacks Investment Research
Aspen Insurance (NYSE:AHL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
According to Zacks, “Aspen Insurance Holdings is a Bermudian holding company that provides property and casualty reinsurance in the global market, property and liability insurance principally in the United Kingdom and surplus lines insurance in the United States. Aspen’s operations are conducted through its wholly-owned subsidiaries located in London, Bermuda and the United States: Aspen Insurance UK Limited, Aspen Insurance Limited and Aspen Specialty Insurance Company. “
Several other equities research analysts have also weighed in on AHL. Buckingham Research lifted their price target on Aspen Insurance from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, October 5th. UBS Group dropped their price target on Aspen Insurance from $45.00 to $43.00 and set a “neutral” rating on the stock in a research report on Monday, October 2nd. Barclays dropped their price target on Aspen Insurance from $49.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Monday, October 16th. Finally, ValuEngine lowered Aspen Insurance from a “hold” rating to a “sell” rating in a research report on Friday, October 13th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $46.75.
Aspen Insurance (NYSE:AHL) last issued its quarterly earnings data on Wednesday, October 25th. The insurance provider reported ($4.78) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($5.07) by $0.29. Aspen Insurance had a negative return on equity of 5.68% and a negative net margin of 6.00%. The firm had revenue of $652.50 million for the quarter, compared to analyst estimates of $626.56 million. During the same period last year, the company earned $0.97 EPS. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. research analysts forecast that Aspen Insurance will post -3.2 EPS for the current fiscal year.
In related news, CEO Stephen Postlewhite sold 1,200 shares of Aspen Insurance stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $41.62, for a total transaction of $49,944.00. Following the sale, the chief executive officer now directly owns 39,321 shares in the company, valued at $1,636,540.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.34% of the company’s stock.
Large investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Aspen Insurance by 13.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,439 shares of the insurance provider’s stock valued at $122,000 after buying an additional 284 shares during the last quarter. Susquehanna International Group LLP purchased a new position in Aspen Insurance during the second quarter valued at $201,000. TLP Group LLC raised its stake in Aspen Insurance by 13.7% during the second quarter. TLP Group LLC now owns 4,094 shares of the insurance provider’s stock valued at $204,000 after buying an additional 494 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new position in Aspen Insurance during the third quarter valued at $204,000. Finally, PNC Financial Services Group Inc. raised its stake in Aspen Insurance by 17.9% during the second quarter. PNC Financial Services Group Inc. now owns 4,340 shares of the insurance provider’s stock valued at $216,000 after buying an additional 659 shares during the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.
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Aspen Insurance Company Profile
Aspen Insurance Holdings Limited is a holding company. The Company underwrites specialty insurance and reinsurance on a global basis. It manages its business as two business segments: Aspen Insurance and Aspen Reinsurance (Aspen Re). The reinsurance segment consists of property catastrophe reinsurance (including the business written through Aspen Capital Markets), other property reinsurance (risk excess, pro rata and facultative), casualty reinsurance (U.S.
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