Alleghany Co. (Y) to Post Q1 2019 Earnings of $8.58 Per Share, Langen Mcalenn Forecasts

Alleghany Co. (NYSE:Y) – Research analysts at Langen Mcalenn dropped their Q1 2019 earnings per share (EPS) estimates for Alleghany in a research report issued on Tuesday, November 6th. Langen Mcalenn analyst L. Greenberg now expects that the insurance provider will post earnings per share of $8.58 for the quarter, down from their prior forecast of $9.03. Langen Mcalenn also issued estimates for Alleghany’s Q2 2019 earnings at $9.19 EPS, Q3 2019 earnings at $8.49 EPS, Q4 2019 earnings at $9.74 EPS and FY2019 earnings at $36.00 EPS.

Y has been the subject of several other reports. ValuEngine raised Alleghany from a “hold” rating to a “buy” rating in a research note on Thursday, July 26th. Zacks Investment Research downgraded Alleghany from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 8th.

NYSE Y opened at $628.99 on Thursday. Alleghany has a 1-year low of $549.00 and a 1-year high of $659.88. The company has a market capitalization of $9.35 billion, a P/E ratio of 308.33 and a beta of 0.94. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.18.

Alleghany (NYSE:Y) last released its quarterly earnings data on Thursday, November 1st. The insurance provider reported ($1.07) earnings per share for the quarter, missing the consensus estimate of $3.50 by ($4.57). Alleghany had a net margin of 12.34% and a return on equity of 5.42%. The firm had revenue of $1.35 billion during the quarter.

Institutional investors have recently added to or reduced their stakes in the business. Baird Financial Group Inc. increased its position in Alleghany by 6.8% during the second quarter. Baird Financial Group Inc. now owns 19,252 shares of the insurance provider’s stock worth $11,076,000 after buying an additional 1,220 shares in the last quarter. Standard Life Aberdeen plc boosted its holdings in shares of Alleghany by 23.2% during the second quarter. Standard Life Aberdeen plc now owns 5,284 shares of the insurance provider’s stock worth $3,038,000 after purchasing an additional 995 shares during the last quarter. Toronto Dominion Bank boosted its holdings in shares of Alleghany by 45.7% during the second quarter. Toronto Dominion Bank now owns 1,534 shares of the insurance provider’s stock worth $881,000 after purchasing an additional 481 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Alleghany by 5.1% during the second quarter. Wells Fargo & Company MN now owns 41,816 shares of the insurance provider’s stock worth $24,042,000 after purchasing an additional 2,046 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of Alleghany by 11.1% during the second quarter. Public Employees Retirement System of Ohio now owns 7,029 shares of the insurance provider’s stock worth $4,041,000 after purchasing an additional 702 shares during the last quarter. 82.07% of the stock is owned by institutional investors.

About Alleghany

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.

Further Reading: Cost of Capital

Earnings History and Estimates for Alleghany (NYSE:Y)

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