Alleghany (Y) Sets New 1-Year High at $678.38

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Alleghany Co. (NYSE:Y) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $678.38 and last traded at $678.04, with a volume of 4858 shares. The stock had previously closed at $674.69.

Y has been the topic of a number of research analyst reports. Royal Bank of Canada reiterated an “average” rating on shares of Alleghany in a report on Thursday. Canaccord Genuity upgraded Alleghany to a “buy” rating in a report on Wednesday, February 13th. Zacks Investment Research cut Alleghany from a “buy” rating to a “hold” rating in a report on Monday, March 4th. ValuEngine upgraded Alleghany from a “hold” rating to a “buy” rating in a report on Friday, April 19th. Finally, JMP Securities lifted their target price on Alleghany from $675.00 to $690.00 and gave the company a “market outperform” rating in a report on Thursday, February 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Alleghany has an average rating of “Hold” and an average price target of $717.00.

The firm has a market cap of $9.78 billion, a price-to-earnings ratio of 42.15 and a beta of 0.77. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.34 and a quick ratio of 0.34.

Alleghany (NYSE:Y) last issued its earnings results on Tuesday, May 7th. The insurance provider reported $9.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $9.51 by $0.15. Alleghany had a return on equity of 2.53% and a net margin of 4.04%. The firm had revenue of $2.32 billion for the quarter. During the same quarter in the previous year, the business posted $11.24 EPS. Alleghany’s revenue was up 46.4% compared to the same quarter last year. As a group, research analysts expect that Alleghany Co. will post 38 earnings per share for the current fiscal year.

In other news, Director Phillip M. Martineau sold 230 shares of Alleghany stock in a transaction dated Friday, March 29th. The stock was sold at an average price of $613.47, for a total transaction of $141,098.10. Following the sale, the director now directly owns 3,549 shares of the company’s stock, valued at $2,177,205.03. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director William K. Lavin sold 518 shares of Alleghany stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $615.56, for a total value of $318,860.08. Following the sale, the director now directly owns 2,675 shares in the company, valued at $1,646,623. The disclosure for this sale can be found here. Insiders sold 1,034 shares of company stock worth $650,217 over the last three months. 3.44% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Riverview Trust Co acquired a new position in Alleghany in the fourth quarter worth about $28,000. Pearl River Capital LLC acquired a new position in Alleghany in the fourth quarter worth about $30,000. Barrett Asset Management LLC grew its stake in Alleghany by 50.0% in the first quarter. Barrett Asset Management LLC now owns 75 shares of the insurance provider’s stock worth $46,000 after purchasing an additional 25 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in Alleghany in the first quarter worth about $59,000. Finally, Marshall Wace North America L.P. acquired a new position in Alleghany in the first quarter valued at approximately $61,000. 82.31% of the stock is currently owned by institutional investors and hedge funds.

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Alleghany Company Profile (NYSE:Y)

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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