Shares of Alleghany Co. (NYSE:Y) have been assigned an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.
Brokerages have set a 12-month consensus price objective of $650.00 for the company and are forecasting that the company will post $8.16 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Alleghany an industry rank of 138 out of 265 based on the ratings given to related companies.
Y has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Alleghany from a “hold” rating to a “strong-buy” rating and set a $683.00 target price on the stock in a research report on Sunday, January 21st. JMP Securities reiterated an “outperform” rating and issued a $650.00 target price (up previously from $625.00) on shares of Alleghany in a research report on Thursday, February 22nd. Finally, TheStreet upgraded shares of Alleghany from a “c+” rating to a “b” rating in a research report on Monday, February 26th.
Alleghany (NYSE Y) traded down $6.24 during midday trading on Wednesday, hitting $628.58. 87,685 shares of the stock were exchanged, compared to its average volume of 69,812. Alleghany has a 52 week low of $521.07 and a 52 week high of $646.11. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market cap of $9,670.00, a P/E ratio of 107.27 and a beta of 0.93.
Alleghany (NYSE:Y) last issued its earnings results on Wednesday, February 21st. The insurance provider reported $9.89 EPS for the quarter, topping analysts’ consensus estimates of $6.39 by $3.50. The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Alleghany had a net margin of 1.40% and a return on equity of 0.38%. During the same quarter last year, the company earned $7.02 EPS. sell-side analysts predict that Alleghany will post 32.3 earnings per share for the current fiscal year.
The company also recently disclosed a special dividend, which will be paid on Thursday, March 15th. Shareholders of record on Monday, March 5th will be given a $10.00 dividend. The ex-dividend date is Friday, March 2nd.
In other Alleghany news, Director William K. Lavin sold 530 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $610.38, for a total value of $323,501.40. Following the transaction, the director now owns 2,735 shares in the company, valued at $1,669,389.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.04% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the business. Swiss National Bank boosted its stake in shares of Alleghany by 0.9% during the 3rd quarter. Swiss National Bank now owns 56,800 shares of the insurance provider’s stock valued at $31,468,000 after purchasing an additional 500 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Alleghany by 29.5% during the 3rd quarter. Sei Investments Co. now owns 10,427 shares of the insurance provider’s stock valued at $5,248,000 after purchasing an additional 2,378 shares in the last quarter. Findlay Park Partners LLP boosted its stake in shares of Alleghany by 10.5% during the 3rd quarter. Findlay Park Partners LLP now owns 223,371 shares of the insurance provider’s stock valued at $123,750,000 after purchasing an additional 21,229 shares in the last quarter. Rothschild Asset Management Inc. boosted its stake in shares of Alleghany by 7.9% during the 3rd quarter. Rothschild Asset Management Inc. now owns 51,105 shares of the insurance provider’s stock valued at $28,313,000 after purchasing an additional 3,749 shares in the last quarter. Finally, USS Investment Management Ltd bought a new stake in shares of Alleghany during the 3rd quarter valued at about $6,705,000. Hedge funds and other institutional investors own 82.12% of the company’s stock.
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Alleghany Company Profile
Alleghany Corporation is an insurance holding company. The Company, through its subsidiary Alleghany Insurance Holdings LLC (AIHL) and its subsidiaries, is engaged in the property and casualty insurance business. AIHL’s insurance operations are conducted by its subsidiaries RSUI Group, Inc (RSUI), CapSpecialty, Inc (CapSpecialty) and Pacific Compensation Corporation (PacificComp).
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