Zacks: Analysts Set $625.00 Target Price for Alleghany Corporation (Y)
Shares of Alleghany Corporation (NYSE:Y) have been given a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.
Brokerages have set a one year consensus price objective of $625.00 for the company and are predicting that the company will post $7.58 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Alleghany Corporation an industry rank of 223 out of 265 based on the ratings given to its competitors.
Several brokerages recently weighed in on Y. BidaskClub raised shares of Alleghany Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Zacks Investment Research cut shares of Alleghany Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, JMP Securities raised shares of Alleghany Corporation from a “market perform” rating to an “outperform” rating and set a $625.00 target price on the stock in a report on Monday, September 11th.
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Shares of Alleghany Corporation (Y) traded down $3.24 on Thursday, hitting $576.37. 75,300 shares of the stock traded hands, compared to its average volume of 49,951. Alleghany Corporation has a 1-year low of $521.07 and a 1-year high of $667.19. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.27 and a current ratio of 0.27.
Alleghany Corporation (NYSE:Y) last issued its quarterly earnings results on Thursday, November 2nd. The insurance provider reported ($22.03) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($28.83) by $6.80. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Alleghany Corporation had a net margin of 0.10% and a negative return on equity of 0.14%. During the same quarter in the prior year, the company earned $10.09 earnings per share. analysts predict that Alleghany Corporation will post -0.24 EPS for the current year.
A number of institutional investors have recently made changes to their positions in Y. FMR LLC increased its stake in Alleghany Corporation by 3.8% in the first quarter. FMR LLC now owns 12,831 shares of the insurance provider’s stock valued at $7,887,000 after purchasing an additional 465 shares during the last quarter. Teachers Advisors LLC increased its stake in Alleghany Corporation by 5.8% in the first quarter. Teachers Advisors LLC now owns 17,830 shares of the insurance provider’s stock valued at $10,959,000 after purchasing an additional 982 shares during the last quarter. Capstone Asset Management Co. increased its stake in Alleghany Corporation by 10.8% in the second quarter. Capstone Asset Management Co. now owns 2,129 shares of the insurance provider’s stock valued at $1,266,000 after purchasing an additional 208 shares during the last quarter. Bank of Montreal Can increased its stake in Alleghany Corporation by 0.7% in the second quarter. Bank of Montreal Can now owns 38,685 shares of the insurance provider’s stock valued at $23,010,000 after purchasing an additional 275 shares during the last quarter. Finally, Creative Planning increased its stake in Alleghany Corporation by 1.2% in the second quarter. Creative Planning now owns 2,351 shares of the insurance provider’s stock valued at $1,398,000 after purchasing an additional 28 shares during the last quarter. Institutional investors own 81.02% of the company’s stock.
Alleghany Corporation Company Profile
Alleghany Corporation is an insurance holding company. The Company, through its subsidiary Alleghany Insurance Holdings LLC (AIHL) and its subsidiaries, is engaged in the property and casualty insurance business. AIHL’s insurance operations are conducted by its subsidiaries RSUI Group, Inc (RSUI), CapSpecialty, Inc (CapSpecialty) and Pacific Compensation Corporation (PacificComp).
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