Zacks: Analysts Set $650.00 Target Price for Alleghany Co. (Y)

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

Brokers have set a 12-month consensus target price of $650.00 for the company and are expecting 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 238 out of 265 based on the ratings given to related companies.

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A number of research analysts recently commented on the company. TheStreet upgraded Alleghany from a “c+” rating to a “b” rating in a research note on Monday, February 26th. JMP Securities restated an “outperform” rating and issued a $650.00 target price (up from $625.00) on shares of Alleghany in a research note on Thursday, February 22nd. Finally, Zacks Investment Research upgraded Alleghany from a “hold” rating to a “strong-buy” rating and set a $683.00 target price for the company in a research note on Sunday, January 21st.

Shares of NYSE Y opened at $587.44 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market capitalization of $9,083.86, a P/E ratio of 388.28 and a beta of 0.88. Alleghany has a one year low of $521.07 and a one year high of $639.42.

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

In other Alleghany news, Director William K. Lavin sold 530 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $610.38, for a total transaction of $323,501.40. Following the completion of the transaction, the director now directly owns 2,735 shares in the company, valued at $1,669,389.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.00% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in Y. Advisor Group Inc. raised its stake in Alleghany by 64.5% during the fourth quarter. Advisor Group Inc. now owns 227 shares of the insurance provider’s stock worth $136,000 after acquiring an additional 89 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Alleghany during the fourth quarter worth $179,000. Fiduciary Trust Co. bought a new stake in shares of Alleghany during the fourth quarter worth $201,000. Texas Yale Capital Corp. bought a new stake in shares of Alleghany during the fourth quarter worth $209,000. Finally, Uncommon Cents Investing LLC bought a new stake in shares of Alleghany during the fourth quarter worth $240,000. Hedge funds and other institutional investors own 83.06% of the company’s stock.

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Alleghany Company Profile

Alleghany Corporation provides property and casualty reinsurance and insurance products in the United States and internationally. The company operates in two segments, Reinsurance and Insurance. The Reinsurance segment offers property reinsurance products, including fire, allied lines, auto physical damage, and homeowners multiple peril reinsurance products; and casualty and other reinsurance products, such as liability, medical malpractice, ocean marine and aviation, auto liability, accident and health, surety, and credit reinsurance products.

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