Zacks: Analysts Set $650.00 Price Target for Alleghany Co. (Y)

Shares of Alleghany Co. (NYSE:Y) have been given an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy rating.

Analysts have set a one year consensus target price of $650.00 for the company and are expecting that the company will post $8.16 EPS for the current quarter, according to Zacks. Zacks has also given Alleghany an industry rank of 215 out of 265 based on the ratings given to its competitors.

Y has been the topic of several research reports. TheStreet upgraded shares of Alleghany from a “c+” rating to a “b” rating in a report on Monday, February 26th. Zacks Investment Research lowered shares of Alleghany from a “strong-buy” rating to a “hold” rating in a report on Saturday, January 6th. Finally, JMP Securities restated an “outperform” rating and issued a $650.00 price target (up previously from $625.00) on shares of Alleghany in a report on Thursday, February 22nd.

Shares of Y traded up $0.06 during mid-day trading on Wednesday, hitting $585.06. The company had a trading volume of 61,533 shares, compared to its average volume of 73,728. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.29 and a current ratio of 0.29. Alleghany has a 1-year low of $521.07 and a 1-year high of $639.42. The stock has a market capitalization of $9,052.46, a PE ratio of 386.94 and a beta of 0.88.

Alleghany (NYSE:Y) last released its earnings results on Wednesday, February 21st. The insurance provider reported $9.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $6.39 by $3.50. Alleghany had a net margin of 1.40% and a return on equity of 0.38%. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period last year, the company earned $7.02 earnings per share. sell-side analysts expect that Alleghany will post 32.3 earnings per share for the current fiscal year.

In related news, Director William K. Lavin sold 530 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $610.38, for a total value of $323,501.40. Following the transaction, the director now owns 2,735 shares in the company, valued at $1,669,389.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.00% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Arizona State Retirement System raised its stake in shares of Alleghany by 5.0% during the fourth quarter. Arizona State Retirement System now owns 19,152 shares of the insurance provider’s stock valued at $11,416,000 after purchasing an additional 905 shares during the period. BlackRock Inc. raised its stake in shares of Alleghany by 2.4% during the fourth quarter. BlackRock Inc. now owns 1,457,806 shares of the insurance provider’s stock valued at $868,985,000 after purchasing an additional 34,808 shares during the period. Flinton Capital Management LLC raised its stake in shares of Alleghany by 18.5% during the fourth quarter. Flinton Capital Management LLC now owns 1,792 shares of the insurance provider’s stock valued at $1,068,000 after purchasing an additional 280 shares during the period. Xact Kapitalforvaltning AB raised its stake in shares of Alleghany by 10.7% during the fourth quarter. Xact Kapitalforvaltning AB now owns 1,395 shares of the insurance provider’s stock valued at $832,000 after purchasing an additional 135 shares during the period. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Alleghany during the fourth quarter valued at approximately $179,000. Institutional investors own 83.01% of the company’s stock.

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Alleghany Company Profile

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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