Alleghany (Y) Rating Reiterated by Royal Bank of Canada

Alleghany (NYSE:Y)‘s stock had its “average” rating restated by analysts at Royal Bank of Canada in a report issued on Thursday, AnalystRatings.com reports.

Y has been the topic of a number of other research reports. JMP Securities upped their price target on Alleghany from $690.00 to $700.00 and gave the company a “market outperform” rating in a research report on Wednesday, May 8th. ValuEngine cut Alleghany from a “buy” rating to a “hold” rating in a research report on Saturday, February 23rd. Zacks Investment Research cut Alleghany from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 23rd. Finally, Canaccord Genuity raised Alleghany to a “buy” rating in a research report on Wednesday, February 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Alleghany currently has an average rating of “Hold” and a consensus price target of $717.00.

Shares of NYSE Y opened at $679.94 on Thursday. Alleghany has a one year low of $558.50 and a one year high of $689.29. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.34 and a current ratio of 0.34. The firm has a market cap of $9.78 billion, a PE ratio of 42.15 and a beta of 0.77.

Alleghany (NYSE:Y) last issued its quarterly earnings results on Tuesday, May 7th. The insurance provider reported $9.66 EPS for the quarter, beating analysts’ consensus estimates of $9.51 by $0.15. Alleghany had a return on equity of 2.53% and a net margin of 4.04%. The firm had revenue of $2.32 billion for the quarter. During the same period in the prior year, the company earned $11.24 EPS. The firm’s quarterly revenue was up 46.4% on a year-over-year basis. As a group, research analysts expect that Alleghany will post 38 EPS for the current fiscal year.

In related news, Director Phillip M. Martineau sold 230 shares of the stock in a transaction dated Friday, March 29th. The stock was sold at an average price of $613.47, for a total transaction of $141,098.10. Following the sale, the director now owns 3,549 shares of the company’s stock, valued at approximately $2,177,205.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William K. Lavin sold 286 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $665.24, for a total value of $190,258.64. Following the sale, the director now directly owns 2,295 shares in the company, valued at approximately $1,526,725.80. The disclosure for this sale can be found here. Insiders have sold a total of 1,034 shares of company stock worth $650,217 in the last three months. 3.44% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Cleararc Capital Inc. bought a new position in Alleghany in the 1st quarter worth about $228,000. BlueMountain Capital Management LLC bought a new position in Alleghany in the 1st quarter worth about $771,000. Kore Private Wealth LLC bought a new position in Alleghany in the 1st quarter worth about $298,000. Jane Street Group LLC bought a new position in Alleghany in the 1st quarter worth about $928,000. Finally, BlueCrest Capital Management Ltd bought a new position in Alleghany in the 1st quarter worth about $367,000. 82.31% of the stock is currently owned by institutional investors and hedge funds.

Alleghany Company Profile

Alleghany Corporation provides property and casualty reinsurance and insurance products in the United States and internationally. The company operates in three segments: Reinsurance, Insurance, and Alleghany Capital. The Reinsurance segment offers fire, allied lines, auto physical damage, and homeowners multiple peril reinsurance products; and casualty and other reinsurance products, such as medical malpractice, ocean marine and aviation, accident and health, mortgage, surety, and credit reinsurance products, as well as directors' and officers', errors and omissions, general, and auto liability reinsurance.

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