Shares of Alleghany Co. (NYSE:Y) have received an average rating of “Hold” from the seven brokerages that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $661.25.
Y has been the topic of a number of recent research reports. Deutsche Bank raised Alleghany from a “hold” rating to a “buy” rating and lifted their target price for the company from $735.00 to $900.00 in a research report on Wednesday, September 4th. JMP Securities lifted their target price on Alleghany from $775.00 to $875.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Zacks Investment Research downgraded Alleghany from a “buy” rating to a “hold” rating and set a $809.00 target price on the stock. in a research report on Sunday, July 14th. ValuEngine downgraded Alleghany from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Credit Suisse Group set a $61.00 target price on Alleghany and gave the company a “hold” rating in a research report on Friday, August 30th.
Several large investors have recently added to or reduced their stakes in Y. Nuveen Asset Management LLC bought a new position in Alleghany during the second quarter worth about $58,571,000. Prudential Financial Inc. grew its holdings in Alleghany by 453.6% during the second quarter. Prudential Financial Inc. now owns 50,265 shares of the insurance provider’s stock worth $34,236,000 after purchasing an additional 41,185 shares during the period. Nordea Investment Management AB grew its holdings in Alleghany by 143.7% during the first quarter. Nordea Investment Management AB now owns 49,740 shares of the insurance provider’s stock worth $30,460,000 after purchasing an additional 29,329 shares during the period. Renaissance Technologies LLC grew its holdings in Alleghany by 58.2% during the second quarter. Renaissance Technologies LLC now owns 74,788 shares of the insurance provider’s stock worth $50,939,000 after purchasing an additional 27,500 shares during the period. Finally, California Public Employees Retirement System grew its holdings in Alleghany by 20.5% during the second quarter. California Public Employees Retirement System now owns 114,739 shares of the insurance provider’s stock worth $78,150,000 after purchasing an additional 19,522 shares during the period. 81.29% of the stock is currently owned by institutional investors and hedge funds.
Alleghany (NYSE:Y) last released its quarterly earnings results on Tuesday, August 6th. The insurance provider reported $12.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $9.48 by $2.92. Alleghany had a return on equity of 2.88% and a net margin of 3.86%. The firm had revenue of $2.10 billion for the quarter. During the same period in the prior year, the business earned $9.78 EPS. Sell-side analysts anticipate that Alleghany will post 42.25 earnings per share for the current fiscal year.
Alleghany Corporation provides property and casualty reinsurance and insurance products in the United States and internationally. The company operates in three segments: Reinsurance, Insurance, and Alleghany Capital. The Reinsurance segment offers fire, allied lines, auto physical damage, and homeowners multiple peril reinsurance products; and casualty and other reinsurance products, such as medical malpractice, ocean marine and aviation, accident and health, mortgage, surety, and credit reinsurance products, as well as directors' and officers', errors and omissions, general, and auto liability reinsurance.
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