Alleghany (Y) Raised to Buy at ValuEngine

Alleghany (NYSE:Y) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a report released on Friday, ValuEngine reports.

Other equities analysts have also issued research reports about the company. Canaccord Genuity upgraded Alleghany to a “buy” rating in a research note on Wednesday, February 13th. Zacks Investment Research upgraded Alleghany from a “sell” rating to a “hold” rating in a research note on Saturday, January 12th. Finally, JMP Securities raised their price objective on Alleghany from $675.00 to $690.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 21st.

Shares of NYSE Y opened at $646.92 on Friday. The company has a market cap of $9.35 billion, a PE ratio of 40.11 and a beta of 0.75. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.33 and a current ratio of 0.33. Alleghany has a 1-year low of $558.50 and a 1-year high of $666.00.

Alleghany (NYSE:Y) last posted its quarterly earnings data on Wednesday, February 20th. The insurance provider reported ($4.35) EPS for the quarter, topping the Zacks’ consensus estimate of ($5.31) by $0.96. Alleghany had a return on equity of 2.94% and a net margin of 0.57%. The firm had revenue of $1.23 billion for the quarter. The business’s revenue was down 26.6% on a year-over-year basis. Equities research analysts predict that Alleghany will post 36 earnings per share for the current year.

In other Alleghany news, Director Phillip M. Martineau sold 230 shares of the firm’s stock in a transaction on Friday, March 29th. The stock was sold at an average price of $613.47, for a total value of $141,098.10. Following the sale, the director now owns 3,549 shares of the company’s stock, valued at approximately $2,177,205.03. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William K. Lavin sold 518 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $615.56, for a total value of $318,860.08. Following the completion of the sale, the director now directly owns 2,675 shares in the company, valued at approximately $1,646,623. The disclosure for this sale can be found here. 3.44% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of Y. Riverview Trust Co acquired a new stake in shares of Alleghany in the 4th quarter valued at $28,000. Pearl River Capital LLC acquired a new stake in shares of Alleghany in the 4th quarter valued at $30,000. Doyle Wealth Management acquired a new stake in shares of Alleghany in the 4th quarter valued at $100,000. Meeder Asset Management Inc. acquired a new stake in shares of Alleghany in the 1st quarter valued at $102,000. Finally, Quantamental Technologies LLC acquired a new stake in shares of Alleghany in the 4th quarter valued at $183,000. 82.81% of the stock is currently owned by hedge funds and other institutional investors.

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.

Featured Story: Penny Stocks, Risk and Reward Factors

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

Receive News & Ratings for Alleghany Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alleghany and related companies with MarketBeat.com's FREE daily email newsletter.