Shares of Alleghany Corporation (NYSE:Y) have been assigned an average broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy rating.
Analysts have set a twelve-month consensus price objective of $625.00 for the company and are expecting that the company will post $7.58 earnings per share for the current quarter, according to Zacks. Zacks has also given Alleghany an industry rank of 180 out of 265 based on the ratings given to its competitors.
A number of equities analysts have recently issued reports on Y shares. Zacks Investment Research upgraded Alleghany from a “sell” rating to a “hold” rating in a report on Monday, November 13th. JMP Securities upgraded Alleghany from a “market perform” rating to an “outperform” rating and set a $625.00 price objective for the company in a report on Monday, September 11th. Finally, BidaskClub cut Alleghany from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th.
Alleghany (NYSE:Y) last posted its quarterly earnings data on Thursday, November 2nd. The insurance provider reported ($22.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($28.83) by $6.80. Alleghany had a negative return on equity of 0.14% and a net margin of 0.10%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the prior year, the business earned $10.09 EPS. sell-side analysts predict that Alleghany will post -0.24 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of the stock. Davis Selected Advisers boosted its holdings in Alleghany by 0.7% during the 3rd quarter. Davis Selected Advisers now owns 78,524 shares of the insurance provider’s stock valued at $43,503,000 after acquiring an additional 550 shares during the period. California Public Employees Retirement System boosted its holdings in Alleghany by 1.9% during the 3rd quarter. California Public Employees Retirement System now owns 40,850 shares of the insurance provider’s stock valued at $22,631,000 after acquiring an additional 750 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Alleghany by 19.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 1,783 shares of the insurance provider’s stock valued at $988,000 after acquiring an additional 294 shares during the period. Zions Bancorporation boosted its holdings in Alleghany by 3,940.0% during the 3rd quarter. Zions Bancorporation now owns 202 shares of the insurance provider’s stock valued at $112,000 after acquiring an additional 197 shares during the period. Finally, Jane Street Group LLC purchased a new stake in Alleghany during the 3rd quarter valued at about $494,000. Institutional investors own 82.10% of the company’s stock.
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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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