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

Shares of Alleghany Co. (NYSE:Y) have received an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.

Analysts have set a 1 year consensus price objective of $650.00 for the company and are anticipating that the company will post $9.15 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Alleghany an industry rank of 186 out of 257 based on the ratings given to its competitors.

Several equities research analysts have issued reports on Y shares. ValuEngine raised Alleghany from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. Zacks Investment Research raised Alleghany from a “hold” rating to a “strong-buy” rating and set a $734.00 price target for the company in a report on Wednesday, August 8th.

Shares of Alleghany stock traded up $4.91 during trading hours on Wednesday, reaching $635.39. The company’s stock had a trading volume of 44,124 shares, compared to its average volume of 64,006. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.29 and a current ratio of 0.29. Alleghany has a one year low of $549.00 and a one year high of $659.88. The company has a market cap of $8.93 billion, a P/E ratio of 311.47 and a beta of 0.94.

Alleghany (NYSE:Y) last posted its quarterly earnings results on Thursday, November 1st. The insurance provider reported ($1.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.50 by ($4.57). Alleghany had a return on equity of 5.42% and a net margin of 12.34%. The business had revenue of $1.35 billion during the quarter. As a group, sell-side analysts predict that Alleghany will post 33.85 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of Y. Qube Research & Technologies Ltd purchased a new position in Alleghany in the 2nd quarter valued at about $106,000. Simplex Trading LLC acquired a new position in Alleghany during the 3rd quarter worth about $190,000. HPM Partners LLC acquired a new position in Alleghany during the 2nd quarter worth about $215,000. Hartford Investment Management Co. acquired a new position in Alleghany during the 2nd quarter worth about $217,000. Finally, Gideon Capital Advisors Inc. acquired a new position in Alleghany during the 2nd quarter worth about $221,000. Institutional investors own 82.07% of the company’s stock.

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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