Alleghany (Y) Downgraded to “Hold” at ValuEngine

Alleghany (NYSE:Y) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Saturday.

A number of other analysts also recently issued reports on Y. Zacks Investment Research restated a “sell” rating on shares of Alleghany in a research report on Saturday, November 17th. JMP Securities raised their price target on Alleghany from $675.00 to $690.00 and gave the stock a “market outperform” rating in a research report on Thursday. Finally, Canaccord Genuity upgraded Alleghany to a “buy” rating in a research report on Wednesday, February 13th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $712.00.

NYSE Y opened at $630.41 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.18. The company has a market cap of $9.66 billion, a PE ratio of 39.08 and a beta of 0.76. Alleghany has a one year low of $558.50 and a one year high of $666.00.

Alleghany (NYSE:Y) last issued its quarterly earnings results on Wednesday, February 20th. The insurance provider reported ($4.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($5.31) by $0.96. The company had revenue of $1.23 billion during the quarter. Alleghany had a return on equity of 2.87% and a net margin of 0.57%. The business’s revenue was down 26.6% compared to the same quarter last year. On average, sell-side analysts expect that Alleghany will post 36 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC increased its stake in shares of Alleghany by 86.2% during the second quarter. Millennium Management LLC now owns 1,838 shares of the insurance provider’s stock valued at $1,057,000 after buying an additional 851 shares during the period. Strs Ohio increased its stake in shares of Alleghany by 3.1% during the third quarter. Strs Ohio now owns 3,071 shares of the insurance provider’s stock valued at $2,003,000 after buying an additional 93 shares during the period. IFM Investors Pty Ltd increased its stake in shares of Alleghany by 28.1% during the third quarter. IFM Investors Pty Ltd now owns 592 shares of the insurance provider’s stock valued at $386,000 after buying an additional 130 shares during the period. Robeco Institutional Asset Management B.V. purchased a new position in shares of Alleghany during the third quarter valued at $5,641,000. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Alleghany during the third quarter valued at $12,007,000. Institutional investors and hedge funds own 79.97% of the company’s stock.

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.

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