Alleghany Corp. (NYSE:Y) – Langen Mcalenn upped their Q3 2016 earnings per share (EPS) estimates for shares of Alleghany Corp. in a research report issued to clients and investors on Thursday. Langen Mcalenn analyst L. Greenberg now anticipates that the brokerage will post earnings of $5.66 per share for the quarter, up from their previous forecast of $5.41. Langen Mcalenn also issued estimates for Alleghany Corp.’s Q4 2016 earnings at $8.28 EPS, Q1 2017 earnings at $7.35 EPS and Q2 2017 earnings at $7.51 EPS.

Other equities research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Alleghany Corp. from a “hold” rating to a “buy” rating and set a $581.00 price target for the company in a research note on Wednesday, September 14th. Citigroup Inc. upgraded shares of Alleghany Corp. from a “neutral” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Thursday, June 16th.

Shares of Alleghany Corp. (NYSE:Y) opened at 522.01 on Monday. The firm has a 50 day moving average price of $530.54 and a 200 day moving average price of $523.03. The firm has a market cap of $8.06 billion, a P/E ratio of 16.90 and a beta of 0.84. Alleghany Corp. has a 1-year low of $446.50 and a 1-year high of $553.48.

Alleghany Corp. (NYSE:Y) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $2.96 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $6.21 by $3.25. Alleghany Corp. had a net margin of 8.64% and a return on equity of 6.07%. The firm earned $1.58 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the business earned $11.40 EPS. The business’s revenue for the quarter was up 21.7% compared to the same quarter last year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Calvert Investment Management Inc. increased its position in shares of Alleghany Corp. by 0.3% in the second quarter. Calvert Investment Management Inc. now owns 1,192 shares of the company’s stock valued at $655,000 after buying an additional 4 shares during the last quarter. Checchi Capital Advisers LLC increased its position in shares of Alleghany Corp. by 1.0% in the second quarter. Checchi Capital Advisers LLC now owns 592 shares of the company’s stock valued at $325,000 after buying an additional 6 shares during the last quarter. Creative Planning increased its position in shares of Alleghany Corp. by 0.8% in the second quarter. Creative Planning now owns 1,317 shares of the company’s stock valued at $724,000 after buying an additional 10 shares during the last quarter. Hancock Holding Co. increased its position in shares of Alleghany Corp. by 0.6% in the second quarter. Hancock Holding Co. now owns 1,820 shares of the company’s stock valued at $1,000,000 after buying an additional 10 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Alleghany Corp. by 1.0% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,105 shares of the company’s stock valued at $607,000 after buying an additional 11 shares during the last quarter. 82.04% of the stock is owned by institutional investors.

About Alleghany Corp.

Alleghany Corporation is an insurance holding company. The Company owns and manages operating subsidiaries and investments, which are involved in the property and casualty reinsurance and insurance. The Company operates through two segments: reinsurance and insurance. The Company’s reinsurance segment consists of property and casualty reinsurance operations conducted by the Company’s subsidiary, Transatlantic Holdings, Inc (TransRe), and its reinsurance operating subsidiaries.

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