Allied World Assurance Company Holdings Ltd (AWH) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Allied World Assurance Company Holdings Ltd (NYSE:AWH) from a buy rating to a hold rating in a research note released on Monday, May 8th.

According to Zacks, “Allied World’s first-quarter earnings missed expectations. However, shares outperformed the Zacks categorized Property and Casualty Insurance industry since the first-quarter earnings release. Allied World is seeking opportunities in North America to further strengthen its Insurance segment. It is witnessing strong momentum in key markets, positioning it well to bolster its Insurance platform. Inorganic story is impressive on prudent buyouts. Solid operational performance supports its sturdy financial position and enables it to engage in significant capital deployments to boost shareholders’ value. Allied World is due to be acquired by Fairfax Financial by the first half of 2017.  However, exposure to cat loss leads to volatility in underwriting results and escalating expenses weigh on margin expansion.”

Allied World Assurance Company Holdings (NYSE:AWH) traded up 0.29% during mid-day trading on Monday, reaching $52.58. The company had a trading volume of 548,914 shares. The firm’s 50-day moving average is $52.97 and its 200-day moving average is $51.27. Allied World Assurance Company Holdings has a one year low of $33.20 and a one year high of $54.46. The firm has a market capitalization of $4.60 billion, a P/E ratio of 17.96 and a beta of 0.58.

Allied World Assurance Company Holdings (NYSE:AWH) last released its earnings results on Wednesday, April 26th. The insurance provider reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.65 by $0.12. The firm had revenue of $676 million during the quarter, compared to analysts’ expectations of $723.40 million. Allied World Assurance Company Holdings had a net margin of 9.91% and a return on equity of 6.69%. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.65 EPS. On average, equities research analysts anticipate that Allied World Assurance Company Holdings will post $2.44 earnings per share for the current fiscal year.

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Hedge funds have recently bought and sold shares of the company. Citadel Advisors LLC acquired a new stake in Allied World Assurance Company Holdings during the third quarter worth approximately $1,798,000. Principal Financial Group Inc. raised its stake in Allied World Assurance Company Holdings by 16.3% in the third quarter. Principal Financial Group Inc. now owns 402,284 shares of the insurance provider’s stock worth $16,260,000 after buying an additional 56,309 shares during the last quarter. Northern Trust Corp raised its stake in Allied World Assurance Company Holdings by 1.8% in the third quarter. Northern Trust Corp now owns 784,220 shares of the insurance provider’s stock worth $31,699,000 after buying an additional 14,143 shares during the last quarter. California State Teachers Retirement System raised its stake in Allied World Assurance Company Holdings by 0.9% in the third quarter. California State Teachers Retirement System now owns 192,087 shares of the insurance provider’s stock worth $7,764,000 after buying an additional 1,700 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in Allied World Assurance Company Holdings by 152.9% in the third quarter. SG Americas Securities LLC now owns 8,772 shares of the insurance provider’s stock worth $355,000 after buying an additional 5,303 shares during the last quarter. 87.16% of the stock is owned by institutional investors and hedge funds.

Allied World Assurance Company Holdings Company Profile

Allied World Assurance Company Holdings, AG is a holding company. The Company provides property, casualty and specialty insurance and reinsurance solutions to clients around the world. The Company operates in three segments: North American Insurance, Global Markets Insurance and Reinsurance. The North American Insurance segment consists of the Company’s direct insurance operations in the United States, Bermuda and Canada.

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