Alleghany (NYSE:Y) Lowered to “Sell” at ValuEngine

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ValuEngine cut shares of Alleghany (NYSE:Y) from a hold rating to a sell rating in a research note issued to investors on Tuesday, ValuEngine reports.

Y has been the topic of several other research reports. Deutsche Bank raised shares of Alleghany from a hold rating to a buy rating and boosted their price target for the company from $735.00 to $900.00 in a research report on Wednesday, September 4th. Zacks Investment Research cut shares of Alleghany from a hold rating to a sell rating and set a $824.00 price objective for the company. in a research report on Saturday, November 16th. JMP Securities lifted their target price on shares of Alleghany from $775.00 to $875.00 and gave the stock an outperform rating in a research note on Tuesday, October 1st. Finally, Credit Suisse Group set a $61.00 target price on shares of Alleghany and gave the company a hold rating in a report on Friday, August 30th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $665.00.

Alleghany stock opened at $770.45 on Tuesday. The company has a fifty day simple moving average of $774.87 and a 200-day simple moving average of $736.41. The firm has a market capitalization of $11.23 billion, a price-to-earnings ratio of 47.77 and a beta of 0.59. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.19. Alleghany has a 52-week low of $577.59 and a 52-week high of $808.50.

Alleghany (NYSE:Y) last posted its quarterly earnings results on Tuesday, November 5th. The insurance provider reported $7.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $6.08 by $1.53. The firm had revenue of $1.53 billion for the quarter. Alleghany had a net margin of 1.43% and a return on equity of 4.36%. During the same period in the prior year, the business posted $7.61 earnings per share. On average, research analysts anticipate that Alleghany will post 39.93 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in Y. Advisory Services Network LLC boosted its position in shares of Alleghany by 300.0% during the 2nd quarter. Advisory Services Network LLC now owns 44 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 33 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in Alleghany in the third quarter valued at approximately $40,000. SRS Capital Advisors Inc. acquired a new position in Alleghany in the second quarter valued at approximately $39,000. Ossiam acquired a new position in Alleghany in the second quarter valued at approximately $52,000. Finally, Marshall Wace North America L.P. purchased a new position in Alleghany in the first quarter valued at approximately $61,000. Institutional investors and hedge funds own 81.09% of the company’s stock.

Alleghany Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Alleghany (NYSE:Y)

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