Alleghany (NYSE:Y) Shares Up 0.6%

Shares of Alleghany Co. (NYSE:Y) shot up 0.6% on Thursday . The company traded as high as $742.51 and last traded at $742.17, 4,088 shares were traded during trading. A decline of 94% from the average session volume of 63,533 shares. The stock had previously closed at $737.69.

A number of research firms have weighed in on Y. JMP Securities upped their target price on Alleghany from $690.00 to $700.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 8th. Zacks Investment Research cut Alleghany from a “buy” rating to a “hold” rating and set a $809.00 price target on the stock. in a research report on Sunday, July 14th. Deutsche Bank began coverage on Alleghany in a research report on Thursday, May 23rd. They issued a “hold” rating and a $700.00 price target on the stock. ValuEngine raised Alleghany from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. Finally, Royal Bank of Canada reissued an “average” rating on shares of Alleghany in a research report on Thursday, May 16th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $736.33.

The company has a quick ratio of 0.34, a current ratio of 0.33 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average of $697.23. The company has a market capitalization of $10.65 billion, a PE ratio of 46.52 and a beta of 0.66.

Alleghany (NYSE:Y) last issued its quarterly earnings results on Tuesday, August 6th. The insurance provider reported $12.40 EPS for the quarter, topping analysts’ consensus estimates of $9.48 by $2.92. Alleghany had a return on equity of 2.88% and a net margin of 3.86%. The firm had revenue of $2.10 billion for the quarter. During the same period in the prior year, the firm earned $9.78 earnings per share. On average, equities analysts predict that Alleghany Co. will post 40.03 earnings per share for the current year.

In other news, Director Phillip M. Martineau sold 559 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $684.53, for a total value of $382,652.27. Following the sale, the director now directly owns 3,214 shares of the company’s stock, valued at approximately $2,200,079.42. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.44% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Aperio Group LLC lifted its holdings in shares of Alleghany by 0.4% during the 2nd quarter. Aperio Group LLC now owns 4,735 shares of the insurance provider’s stock valued at $3,225,000 after buying an additional 17 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Alleghany by 0.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 3,135 shares of the insurance provider’s stock valued at $1,920,000 after buying an additional 19 shares during the period. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Alleghany by 0.8% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 2,670 shares of the insurance provider’s stock valued at $1,819,000 after buying an additional 20 shares during the period. Sumitomo Mitsui Asset Management Company LTD lifted its holdings in shares of Alleghany by 2.8% during the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 909 shares of the insurance provider’s stock valued at $556,000 after buying an additional 25 shares during the period. Finally, Barrett Asset Management LLC lifted its holdings in shares of Alleghany by 50.0% during the 1st quarter. Barrett Asset Management LLC now owns 75 shares of the insurance provider’s stock valued at $46,000 after buying an additional 25 shares during the period. 81.33% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Story: Asset Allocation Models, Which is Right For You?

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.