BidaskClub Downgrades Alleghany Corporation (Y) to Strong Sell
Alleghany Corporation (NYSE:Y) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Thursday.
Several other equities research analysts have also issued reports on Y. Zacks Investment Research lowered Alleghany Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Credit Suisse Group reissued a “hold” rating on shares of Alleghany Corporation in a research note on Tuesday, July 11th.
Alleghany Corporation (Y) traded down 1.053% during trading on Thursday, hitting $591.565. The stock had a trading volume of 2,216 shares. Alleghany Corporation has a 52 week low of $510.52 and a 52 week high of $667.19. The stock has a market capitalization of $9.12 billion, a P/E ratio of 19.164 and a beta of 0.92. The company has a 50-day moving average of $602.58 and a 200-day moving average of $608.91.
Alleghany Corporation (NYSE:Y) last posted its quarterly earnings data on Thursday, August 3rd. The insurance provider reported $6.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $8.10 by $1.73. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.39 billion. Alleghany Corporation had a net margin of 7.74% and a return on equity of 5.70%. Alleghany Corporation’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $4.99 EPS. On average, equities analysts expect that Alleghany Corporation will post $28.68 earnings per share for the current fiscal year.
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A number of large investors have recently modified their holdings of the company. Mn Services Vermogensbeheer B.V. raised its stake in shares of Alleghany Corporation by 3.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 411 shares of the insurance provider’s stock valued at $236,000 after buying an additional 15 shares during the period. Retirement Systems of Alabama raised its stake in shares of Alleghany Corporation by 48.3% in the first quarter. Retirement Systems of Alabama now owns 29,532 shares of the insurance provider’s stock valued at $18,152,000 after buying an additional 9,622 shares during the period. Hermes Investment Management Ltd. raised its stake in shares of Alleghany Corporation by 2.9% in the first quarter. Hermes Investment Management Ltd. now owns 66,158 shares of the insurance provider’s stock valued at $40,665,000 after buying an additional 1,873 shares during the period. State of Alaska Department of Revenue purchased a new stake in shares of Alleghany Corporation during the first quarter valued at about $649,000. Finally, Huntington National Bank raised its stake in shares of Alleghany Corporation by 1.0% in the first quarter. Huntington National Bank now owns 401 shares of the insurance provider’s stock valued at $246,000 after buying an additional 4 shares during the period. 81.36% of the stock is owned by hedge funds and other institutional investors.
Alleghany Corporation Company Profile
Alleghany Corporation is an insurance holding company. The Company, through its subsidiary Alleghany Insurance Holdings LLC (AIHL) and its subsidiaries, is engaged in the property and casualty insurance business. AIHL’s insurance operations are conducted by its subsidiaries RSUI Group, Inc (RSUI), CapSpecialty, Inc (CapSpecialty) and Pacific Compensation Corporation (PacificComp).
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