Alleghany Corp. (Y) Downgraded by Zacks Investment Research to “Hold”
Alleghany Corp. (NYSE:Y) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.
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. “
Shares of Alleghany Corp. (NYSE:Y) opened at 537.87 on Thursday. The firm has a market capitalization of $8.29 billion, a PE ratio of 15.39 and a beta of 0.87. The stock has a 50 day moving average of $523.03 and a 200-day moving average of $529.90. Alleghany Corp. has a 12 month low of $446.50 and a 12 month high of $553.48.
Alleghany Corp. (NYSE:Y) last announced its earnings results on Tuesday, November 1st. The company reported $10.09 EPS for the quarter, beating analysts’ consensus estimates of $7.74 by $2.35. The business had revenue of $1.61 million for the quarter, compared to analysts’ expectations of $218.43 million. Alleghany Corp. had a net margin of 9.02% and a return on equity of 6.36%. The company’s quarterly revenue was up 35.3% on a year-over-year basis. During the same period in the previous year, the company posted $6.07 EPS. On average, equities research analysts anticipate that Alleghany Corp. will post $26.67 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the stock. Mizuho Asset Management Co. Ltd. boosted its position 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 in the last quarter. Financial Architects Inc boosted 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 in the last quarter. Global X Management Co. LLC purchased a new position in shares of Alleghany Corp. during the second quarter valued at about $128,000. Financial Counselors Inc. purchased a new position in shares of Alleghany Corp. during the second quarter valued at about $205,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Alleghany Corp. during the third quarter valued at about $210,000. 81.88% of the stock is currently owned by institutional investors.
About Alleghany Corp.
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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