Zacks Investment Research upgraded shares of Alleghany Corp. (NYSE:Y) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday morning. Zacks Investment Research currently has $648.00 target price on the stock.

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) traded up 0.55% on Wednesday, hitting $567.04. The stock had a trading volume of 8,892 shares. The firm has a 50 day moving average of $527.12 and a 200 day moving average of $531.32. Alleghany Corp. has a 12 month low of $446.50 and a 12 month high of $567.32. The stock has a market cap of $8.74 billion, a P/E ratio of 16.23 and a beta of 0.87.

Alleghany Corp. (NYSE:Y) last released its quarterly earnings results on Tuesday, November 1st. The company reported $10.09 EPS for the quarter, topping the consensus estimate of $7.74 by $2.35. The company had revenue of $1.61 million for the quarter, compared to analyst estimates of $218.43 million. Alleghany Corp. had a return on equity of 6.36% and a net margin of 9.02%. The firm’s revenue was up 35.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.07 earnings per share. On average, equities analysts forecast that Alleghany Corp. will post $27.50 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of Y. Calvert Investment Management Inc. increased its stake in Alleghany Corp. by 0.3% in the second quarter. Calvert Investment Management Inc. now owns 1,192 shares of the company’s stock worth $655,000 after buying an additional 4 shares during the period. Checchi Capital Advisers LLC increased its stake in Alleghany Corp. by 1.0% in the second quarter. Checchi Capital Advisers LLC now owns 592 shares of the company’s stock worth $325,000 after buying an additional 6 shares during the period. Creative Planning increased its stake in Alleghany Corp. by 0.8% in the second quarter. Creative Planning now owns 1,317 shares of the company’s stock worth $724,000 after buying an additional 10 shares during the period. Hancock Holding Co. increased its stake in Alleghany Corp. by 0.6% in the second quarter. Hancock Holding Co. now owns 1,820 shares of the company’s stock worth $1,000,000 after buying an additional 10 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD increased its stake in Alleghany Corp. by 1.0% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,105 shares of the company’s stock worth $607,000 after buying an additional 11 shares during the period. Hedge funds and other institutional investors own 82.00% 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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