Langen Mcalenn Brokers Reduce Earnings Estimates for Alleghany Co. (Y)

Alleghany Co. (NYSE:Y) – Stock analysts at Langen Mcalenn decreased their FY2018 EPS estimates for Alleghany in a report released on Tuesday, November 6th. Langen Mcalenn analyst L. Greenberg now expects that the insurance provider will post earnings per share of $27.95 for the year, down from their previous forecast of $33.85. Langen Mcalenn also issued estimates for Alleghany’s Q4 2018 earnings at $7.74 EPS.

Alleghany (NYSE:Y) last posted its quarterly earnings data on Thursday, November 1st. The insurance provider reported ($1.07) EPS for the quarter, missing the consensus estimate of $3.50 by ($4.57). The company had revenue of $1.35 billion during the quarter. Alleghany had a net margin of 12.34% and a return on equity of 5.42%.

Several other equities research analysts have also recently commented on Y. ValuEngine raised shares of Alleghany from a “hold” rating to a “buy” rating in a research report on Thursday, July 26th. Zacks Investment Research raised shares of Alleghany from a “hold” rating to a “strong-buy” rating and set a $734.00 price objective on the stock in a research report on Wednesday, August 8th.

Y opened at $628.99 on Friday. The firm has a market capitalization of $9.43 billion, a P/E ratio of 308.33 and a beta of 0.94. Alleghany has a 12 month low of $549.00 and a 12 month high of $659.88. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.18.

Large investors have recently modified their holdings of the business. Baird Financial Group Inc. increased its stake in shares of Alleghany by 6.8% during the 2nd quarter. Baird Financial Group Inc. now owns 19,252 shares of the insurance provider’s stock worth $11,076,000 after purchasing an additional 1,220 shares during the last quarter. Standard Life Aberdeen plc increased its stake in shares of Alleghany by 23.2% during the 2nd quarter. Standard Life Aberdeen plc now owns 5,284 shares of the insurance provider’s stock worth $3,038,000 after purchasing an additional 995 shares during the last quarter. Toronto Dominion Bank increased its stake in shares of Alleghany by 45.7% during the 2nd quarter. Toronto Dominion Bank now owns 1,534 shares of the insurance provider’s stock worth $881,000 after purchasing an additional 481 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Alleghany by 5.1% during the 2nd quarter. Wells Fargo & Company MN now owns 41,816 shares of the insurance provider’s stock worth $24,042,000 after purchasing an additional 2,046 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Alleghany by 11.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,029 shares of the insurance provider’s stock worth $4,041,000 after purchasing an additional 702 shares during the last quarter. 82.07% of the stock is currently owned by hedge funds and other institutional investors.

About Alleghany

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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Earnings History and Estimates for Alleghany (NYSE:Y)

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