Alleghany Corp. (NYSE:Y) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “ALLEGHANY CORP. is engaged, through its subsidiaries Chicago Title and Trust Company (CT&T), Chicago Title Insurance Company (CTI), Security Union Title Insurance Company (Security Union) and Ticor Title Insurance Company (Ticor Title) and their subsidiaries, in the sale and underwriting of title insurance and in other real estate-related services businesses, and through CT&T’s subsidiary, Alleghany Asset Management, Inc. (Alleghany Asset Management) and its subsidiaries, in certain other financial services businesses. “

Separately, Citigroup Inc. upgraded Alleghany Corp. from a “neutral” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Thursday, June 16th.

Alleghany Corp. (NYSE:Y) opened at 532.70 on Wednesday. The stock’s 50 day moving average is $529.91 and its 200 day moving average is $523.13. The company has a market capitalization of $8.22 billion, a PE ratio of 17.25 and a beta of 0.84. Alleghany Corp. has a 52 week low of $446.50 and a 52 week high of $553.48.

Alleghany Corp. (NYSE:Y) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $2.96 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $6.21 by $3.25. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.16 billion. Alleghany Corp. had a return on equity of 6.07% and a net margin of 8.64%. The business’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same quarter last year, the firm posted $11.40 earnings per share. Analysts predict that Alleghany Corp. will post $1.38 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Mizuho Asset Management Co. Ltd. boosted its stake in shares of Alleghany Corp. by 48.8% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 186 shares of the company’s stock valued at $102,000 after buying an additional 61 shares during the last quarter. Financial Architects Inc raised its position in shares of Alleghany Corp. by 24.7% in the second quarter. Financial Architects Inc now owns 202 shares of the company’s stock valued at $111,000 after buying an additional 40 shares during the period. Global X Management Co. LLC acquired a new position in shares of Alleghany Corp. during the second quarter valued at about $128,000. Financial Counselors Inc. acquired a new position in shares of Alleghany Corp. during the second quarter valued at about $205,000. Finally, HRT Financial LLC acquired a new position in shares of Alleghany Corp. during the second quarter valued at about $222,000. Institutional investors and hedge funds own 81.96% of the company’s stock.

Alleghany Corp. Company Profile

Alleghany Corporation is an insurance holding company. The Company owns and manages operating subsidiaries and investments, which are involved in the property and casualty reinsurance and insurance. The Company operates through two segments: reinsurance and insurance. The Company’s reinsurance segment consists of property and casualty reinsurance operations conducted by the Company’s subsidiary, Transatlantic Holdings, Inc (TransRe), and its reinsurance operating subsidiaries.

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