Langen Mcalenn Weighs in on Alleghany Co.’s Q3 2018 Earnings (Y)
Alleghany Co. (NYSE:Y) – Equities researchers at Langen Mcalenn decreased their Q3 2018 EPS estimates for shares of Alleghany in a research report issued to clients and investors on Thursday, October 11th. Langen Mcalenn analyst L. Greenberg now anticipates that the insurance provider will earn $3.50 per share for the quarter, down from their prior estimate of $7.68. Langen Mcalenn also issued estimates for Alleghany’s FY2018 earnings at $33.85 EPS.
Alleghany (NYSE:Y) last announced its quarterly earnings data on Thursday, August 2nd. The insurance provider reported $9.78 earnings per share for the quarter, beating analysts’ consensus estimates of $8.41 by $1.37. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Alleghany had a net margin of 4.48% and a return on equity of 3.51%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.37 earnings per share.
Shares of Y stock opened at $604.73 on Monday. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $9.75 billion, a P/E ratio of 295.88 and a beta of 0.88. Alleghany has a fifty-two week low of $547.45 and a fifty-two week high of $659.88.
A number of hedge funds and other institutional investors have recently bought and sold shares of Y. Qube Research & Technologies Ltd acquired a new position in shares of Alleghany in the 2nd quarter valued at $106,000. HPM Partners LLC acquired a new position in shares of Alleghany in the 2nd quarter valued at $215,000. Hartford Investment Management Co. acquired a new position in shares of Alleghany in the 2nd quarter valued at $217,000. Gideon Capital Advisors Inc. acquired a new position in shares of Alleghany in the 2nd quarter valued at $221,000. Finally, TMD & Associates Inc. acquired a new position in shares of Alleghany in the 3rd quarter valued at $223,000. Institutional investors own 82.28% of the company’s stock.
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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