Alleghany Corporation (NYSE:Y) Given “Hold” Rating at Credit Suisse Group
Alleghany Corporation (NYSE:Y)‘s stock had its “hold” rating reaffirmed by investment analysts at Credit Suisse Group in a research note issued on Tuesday, July 11th.
The analysts wrote, “We see figures as positive for the sector, Vivo, & TIM and negative for Claro & Oi.””
Separately, BidaskClub downgraded Alleghany Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 23rd.
Alleghany Corporation (NYSE:Y) traded down 1.11% during trading on Tuesday, reaching $600.41. The company’s stock had a trading volume of 33,391 shares. The company’s 50-day moving average is $601.20 and its 200-day moving average is $608.97. The company has a market capitalization of $9.26 billion, a P/E ratio of 20.51 and a beta of 0.92. Alleghany Corporation has a 1-year low of $510.52 and a 1-year high of $667.19.
Alleghany Corporation (NYSE:Y) last issued its quarterly earnings results on Thursday, August 3rd. The insurance provider reported $6.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.10 by $1.73. Alleghany Corporation had a net margin of 7.74% and a return on equity of 5.70%. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the prior year, the firm earned $4.99 earnings per share. The company’s revenue was down 1.8% on a year-over-year basis. Equities analysts anticipate that Alleghany Corporation will post $29.27 EPS for the current year.
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In other news, Director William K. Lavin sold 321 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $582.50, for a total value of $186,982.50. Following the transaction, the director now directly owns 2,499 shares of the company’s stock, valued at approximately $1,455,667.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.04% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in Alleghany Corporation by 5,310.0% in the first quarter. BlackRock Inc. now owns 1,424,386 shares of the insurance provider’s stock worth $875,513,000 after buying an additional 1,398,057 shares during the period. Victory Capital Management Inc. increased its position in Alleghany Corporation by 30.3% in the second quarter. Victory Capital Management Inc. now owns 366,174 shares of the insurance provider’s stock worth $217,800,000 after buying an additional 85,145 shares during the period. Vanguard Group Inc. increased its position in Alleghany Corporation by 4.5% in the first quarter. Vanguard Group Inc. now owns 1,232,888 shares of the insurance provider’s stock worth $757,807,000 after buying an additional 53,639 shares during the period. Assenagon Asset Management S.A. bought a new position in Alleghany Corporation during the first quarter worth $24,230,000. Finally, Morgan Stanley increased its position in Alleghany Corporation by 91.8% in the first quarter. Morgan Stanley now owns 80,197 shares of the insurance provider’s stock worth $49,293,000 after buying an additional 38,378 shares during the period. 81.36% of the stock is currently 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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