Alleghany Corporation (NYSE:Y) – Analysts at Langen Mcalenn lifted their Q3 2017 earnings estimates for shares of Alleghany Corporation in a report released on Monday. Langen Mcalenn analyst L. Greenberg now forecasts that the insurance provider will post earnings per share of $7.27 for the quarter, up from their prior forecast of $7.16. Langen Mcalenn also issued estimates for Alleghany Corporation’s Q4 2017 earnings at $7.81 EPS, Q2 2018 earnings at $7.76 EPS, Q4 2018 earnings at $7.44 EPS and FY2018 earnings at $29.75 EPS.

Alleghany Corporation (NYSE:Y) last issued its earnings results on Thursday, August 3rd. The insurance provider reported $6.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $8.10 by $1.73. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.39 billion. Alleghany Corporation had a return on equity of 5.70% and a net margin of 7.74%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.99 EPS. ILLEGAL ACTIVITY WARNING: “Alleghany Corporation (Y) to Post Q3 2017 Earnings of $7.27 Per Share, Langen Mcalenn Forecasts” was first posted by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of US and international copyright and trademark law. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2017/08/08/alleghany-corporation-y-to-post-q3-2017-earnings-of-7-27-per-share-langen-mcalenn-forecasts.html.

A number of other analysts also recently issued reports on the company. BidaskClub downgraded Alleghany Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Zacks Investment Research downgraded Alleghany Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, Credit Suisse Group reiterated a “hold” rating on shares of Alleghany Corporation in a research report on Tuesday, July 11th.

Alleghany Corporation (Y) opened at 600.41 on Tuesday. The firm has a market cap of $9.26 billion, a P/E ratio of 20.51 and a beta of 0.92. The firm’s 50-day moving average price is $601.20 and its 200 day moving average price is $608.97. Alleghany Corporation has a 52 week low of $510.52 and a 52 week high of $667.19.

Hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. boosted its position in shares of Alleghany Corporation by 30.3% in the second quarter. Victory Capital Management Inc. now owns 366,174 shares of the insurance provider’s stock worth $217,800,000 after buying an additional 85,145 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Alleghany Corporation by 3.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 53,534 shares of the insurance provider’s stock worth $31,842,000 after buying an additional 1,872 shares in the last quarter. Pzena Investment Management LLC boosted its position in shares of Alleghany Corporation by 42.3% in the second quarter. Pzena Investment Management LLC now owns 602 shares of the insurance provider’s stock worth $358,000 after buying an additional 179 shares in the last quarter. Cadence Capital Management LLC boosted its position in shares of Alleghany Corporation by 1.0% in the second quarter. Cadence Capital Management LLC now owns 491 shares of the insurance provider’s stock worth $292,000 after buying an additional 5 shares in the last quarter. Finally, Montag A & Associates Inc. boosted its position in shares of Alleghany Corporation by 23.4% in the second quarter. Montag A & Associates Inc. now owns 1,283 shares of the insurance provider’s stock worth $763,000 after buying an additional 243 shares in the last quarter. Hedge funds and other institutional investors own 81.36% of the company’s stock.

Alleghany Corporation 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).

Earnings History and Estimates for Alleghany Corporation (NYSE:Y)

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