Alleghany (NYSE:Y) gets an outperform rating from analysts at Keefe, Bruyette & Woods


Research analysts from Keefe, Bruyette & Woods have launched a hedge on the shares of Alleghany (NYSE:Y – Get a Rating) in a research note published on Sunday, reports The Fly. The company has set an “outperform” rating on the shares of the insurance provider.

Separately, upgraded Alleghany from a “hold” rating to a “buy” rating in a Friday, March 4 research report.

NYSE:Y traded down $0.56 during the midday session on Friday, hitting $676.75. The company’s shares had a trading volume of 83,939 shares, compared to an average volume of 73,209. Alleghany has a 1-year low of $585.10 and a 1-year high of $737.89. The stock has a fifty-day moving average of $667.25 and a 200-day moving average of $662.18. The company has a market capitalization of $9.16 billion, a PE ratio of 9.08 and a beta of 0.62. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt ratio of 0.31.

Alleghany (NYSE:Y – Get Rating) last announced its results on Wednesday, February 23. The insurance provider reported EPS of $18.46 for the quarter. Alleghany had a net margin of 8.62% and a return on equity of 6.90%. The company had revenue of $3.56 billion in the quarter. In the same quarter a year earlier, the company posted earnings per share of $6.77. The company’s revenue for the quarter increased by 33.5% compared to the same quarter last year.

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Several large investors have recently increased or reduced their stake in the company. Moors & Cabot Inc. increased its position in Alleghany shares by 7,704.5% in the third quarter. Moors & Cabot Inc. now owns 217,668 shares of the insurance provider valued at $18,471,000 after acquiring an additional 214,879 shares last quarter. Norges Bank acquired a new position in Alleghany in the fourth quarter worth $83,067,000. Peapack Gladstone Financial Corp increased its holdings of Alleghany shares by 194.0% in Q3. Peapack Gladstone Financial Corp now owns 180,670 shares of the insurance provider worth $112,812,000 after buying an additional 119,228 shares during the period. Marathon Asset Mgmt Ltd bought a new position in Alleghany shares in Q4 for a value of approximately $62,422,000. Finally, Private Advisor Group LLC increased its stake in Alleghany shares by 564.4% in the third quarter. Private Advisor Group LLC now owns 52,604 shares of the insurance provider worth $32,846,000 after purchasing an additional 44,686 shares during the period. 84.44% of the shares are currently held by institutional investors and hedge funds.

Alleghany Company Profile (Get a rating)

Alleghany Corp. provides property and casualty reinsurance, insurance and financial services. It operates through reinsurance and insurance segments. The Reinsurance segment includes property and casualty reinsurance business and other reinsurance business. The Insurance segment includes property and casualty insurance business.

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