Zacks: Alleghany Co. (Y) Given $625.00 Consensus Target Price by Analysts
Alleghany Co. (NYSE:Y) has received a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy recommendation.
Brokers have set a 12 month consensus target price of $625.00 for the company and are predicting that the company will post $7.58 EPS for the current quarter, according to Zacks. Zacks has also assigned Alleghany an industry rank of 50 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research cut shares of Alleghany from a “strong-buy” rating to a “hold” rating in a research report on Saturday, January 6th.
Alleghany (NYSE:Y) last posted its earnings results on Thursday, November 2nd. The insurance provider reported ($22.03) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($28.83) by $6.80. Alleghany had a net margin of 0.10% and a negative return on equity of 0.14%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the company posted $10.09 EPS. equities research analysts expect that Alleghany will post -0.24 earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of Y. Vanguard Group Inc. increased its stake in Alleghany by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 1,265,276 shares of the insurance provider’s stock valued at $752,586,000 after purchasing an additional 32,388 shares in the last quarter. First Eagle Investment Management LLC increased its stake in Alleghany by 1.8% during the 3rd quarter. First Eagle Investment Management LLC now owns 666,629 shares of the insurance provider’s stock valued at $369,319,000 after purchasing an additional 11,688 shares in the last quarter. Victory Capital Management Inc. increased its stake in Alleghany by 16.9% during the 3rd quarter. Victory Capital Management Inc. now owns 428,041 shares of the insurance provider’s stock valued at $237,139,000 after purchasing an additional 61,867 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Alleghany by 2.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 353,987 shares of the insurance provider’s stock valued at $194,434,000 after purchasing an additional 8,513 shares in the last quarter. Finally, Findlay Park Partners LLP increased its stake in 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. Institutional investors own 82.22% 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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