Zacks: Alleghany Co. (Y) Receives Average Rating of “Strong Buy” from Brokerages

Shares of Alleghany Co. (NYSE:Y) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.

Analysts have set a 1 year consensus price objective of $650.00 for the company and are forecasting that the company will post $7.74 earnings per share for the current quarter, according to Zacks. Zacks has also given Alleghany an industry rank of 170 out of 257 based on the ratings given to its competitors.

Y has been the topic of a number of recent analyst reports. ValuEngine raised Alleghany from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. Zacks Investment Research lowered Alleghany from a “strong-buy” rating to a “hold” rating in a report on Monday, October 8th.

In other Alleghany news, Director William K. Lavin sold 528 shares of the business’s stock in a transaction on Tuesday, November 13th. The stock was sold at an average price of $622.84, for a total transaction of $328,859.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.00% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of Y. Strs Ohio lifted its position in shares of Alleghany by 3.1% in the third quarter. Strs Ohio now owns 3,071 shares of the insurance provider’s stock valued at $2,003,000 after acquiring an additional 93 shares in the last quarter. Shufro Rose & Co. LLC lifted its position in shares of Alleghany by 0.9% in the second quarter. Shufro Rose & Co. LLC now owns 10,540 shares of the insurance provider’s stock valued at $6,060,000 after acquiring an additional 97 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Alleghany by 2.5% in the second quarter. Louisiana State Employees Retirement System now owns 4,100 shares of the insurance provider’s stock valued at $2,357,000 after acquiring an additional 100 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Alleghany by 0.6% in the third quarter. State Board of Administration of Florida Retirement System now owns 15,987 shares of the insurance provider’s stock valued at $10,432,000 after acquiring an additional 103 shares in the last quarter. Finally, Jefferies Group LLC lifted its position in shares of Alleghany by 13.0% in the third quarter. Jefferies Group LLC now owns 957 shares of the insurance provider’s stock valued at $624,000 after acquiring an additional 110 shares in the last quarter. Institutional investors own 82.51% of the company’s stock.

Shares of Y stock opened at $612.36 on Thursday. Alleghany has a 1-year low of $549.00 and a 1-year high of $659.88. The firm has a market cap of $9.17 billion, a P/E ratio of 300.18 and a beta of 0.94. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.18.

Alleghany (NYSE:Y) last announced its quarterly earnings data on Thursday, November 1st. The insurance provider reported ($1.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.50 by ($4.57). Alleghany had a return on equity of 5.42% and a net margin of 12.34%. The business had revenue of $1.35 billion for the quarter. Equities analysts predict that Alleghany will post 27.95 EPS for the current fiscal year.

Alleghany Company Profile

Alleghany Corporation provides property and casualty reinsurance and insurance products in the United States and internationally. The company operates in two segments, Reinsurance and Insurance. The Reinsurance segment offers property reinsurance products, including fire, allied lines, auto physical damage, and homeowners multiple peril reinsurance products; and casualty and other reinsurance products, such as liability, medical malpractice, ocean marine and aviation, auto liability, accident and health, surety, and credit reinsurance products.

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