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

Alleghany Co. (NYSE:Y) has been given a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating.

Analysts have set a 12-month consensus price objective of $650.00 for the company and are forecasting that the company will post $8.16 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Alleghany an industry rank of 131 out of 265 based on the ratings given to its competitors.

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Several equities analysts have issued reports on the stock. TheStreet upgraded shares of Alleghany from a “c+” rating to a “b” rating in a research note on Monday, February 26th. Zacks Investment Research cut shares of Alleghany from a “strong-buy” rating to a “hold” rating in a research note on Saturday, January 6th. Finally, JMP Securities restated an “outperform” rating and set a $650.00 target price (up previously from $625.00) on shares of Alleghany in a research note on Thursday, February 22nd.

In other Alleghany news, Director William K. Lavin sold 530 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $610.38, for a total transaction of $323,501.40. Following the transaction, the director now owns 2,735 shares in the company, valued at approximately $1,669,389.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.04% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. lifted its stake in shares of Alleghany by 2.4% in the 4th quarter. BlackRock Inc. now owns 1,457,806 shares of the insurance provider’s stock worth $868,985,000 after purchasing an additional 34,808 shares during the period. Boston Partners lifted its stake in shares of Alleghany by 17.1% in the 4th quarter. Boston Partners now owns 764,977 shares of the insurance provider’s stock worth $455,995,000 after purchasing an additional 111,698 shares during the period. Franklin Resources Inc. lifted its stake in shares of Alleghany by 2.3% in the 4th quarter. Franklin Resources Inc. now owns 661,912 shares of the insurance provider’s stock worth $394,559,000 after purchasing an additional 14,701 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Alleghany by 9.0% in the 4th quarter. Victory Capital Management Inc. now owns 466,581 shares of the insurance provider’s stock worth $278,124,000 after purchasing an additional 38,540 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Alleghany by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 353,987 shares of the insurance provider’s stock worth $194,434,000 after purchasing an additional 8,513 shares during the period. Institutional investors and hedge funds own 83.15% of the company’s stock.

Shares of Alleghany (NYSE Y) traded up $5.12 during mid-day trading on Wednesday, reaching $628.20. 88,456 shares of the company traded hands, compared to its average volume of 56,586. Alleghany has a one year low of $521.07 and a one year high of $640.31. The stock has a market cap of $9,590.09, a P/E ratio of 117.86 and a beta of 0.93. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.17.

Alleghany (NYSE:Y) last announced its quarterly earnings data on Wednesday, February 21st. The insurance provider reported $9.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $6.39 by $3.50. Alleghany had a net margin of 1.40% and a return on equity of 0.38%. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the prior year, the firm posted $7.02 EPS. analysts anticipate that Alleghany will post 32.3 EPS for the current year.

The business also recently announced a special dividend, which was paid on Thursday, March 15th. Shareholders of record on Monday, March 5th were paid a dividend of $10.00 per share. The ex-dividend date of this dividend was Friday, March 2nd.

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About Alleghany

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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