Alleghany Co. to Post FY2018 Earnings of $27.95 Per Share, Langen Mcalenn Forecasts (Y)

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Alleghany Co. (NYSE:Y) – Langen Mcalenn cut their FY2018 earnings per share (EPS) estimates for Alleghany in a research note issued to investors on Tuesday, November 6th. Langen Mcalenn analyst L. Greenberg now forecasts that the insurance provider will post earnings of $27.95 per share for the year, down from their previous estimate of $33.85. Langen Mcalenn also issued estimates for Alleghany’s Q4 2018 earnings at $7.74 EPS.

Alleghany (NYSE:Y) last announced its quarterly earnings data on Thursday, November 1st. The insurance provider reported ($1.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.50 by ($4.57). The company had revenue of $1.35 billion for the quarter. Alleghany had a net margin of 12.34% and a return on equity of 5.42%.

Other research analysts have also recently issued research reports about the company. ValuEngine upgraded Alleghany from a “hold” rating to a “buy” rating in a research note on Thursday, July 26th. Zacks Investment Research upgraded Alleghany from a “hold” rating to a “strong-buy” rating and set a $734.00 price target for the company in a research note on Wednesday, August 8th.

Shares of NYSE:Y opened at $628.99 on Friday. The firm has a market cap of $9.35 billion, a price-to-earnings ratio of 308.33 and a beta of 0.94. Alleghany has a 12-month low of $549.00 and a 12-month high of $659.88. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.29 and a quick ratio of 0.29.

Several hedge funds have recently bought and sold shares of Y. Findlay Park Partners LLP raised its stake in shares of Alleghany by 33.8% in the second quarter. Findlay Park Partners LLP now owns 454,362 shares of the insurance provider’s stock worth $261,245,000 after purchasing an additional 114,691 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Alleghany by 3.9% in the second quarter. BlackRock Inc. now owns 1,497,952 shares of the insurance provider’s stock worth $861,277,000 after acquiring an additional 56,410 shares during the period. FMR LLC grew its holdings in shares of Alleghany by 391.7% in the third quarter. FMR LLC now owns 32,635 shares of the insurance provider’s stock worth $21,295,000 after acquiring an additional 25,998 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Alleghany by 613.7% in the second quarter. Renaissance Technologies LLC now owns 29,888 shares of the insurance provider’s stock worth $17,185,000 after acquiring an additional 25,700 shares during the period. Finally, Boston Partners grew its holdings in shares of Alleghany by 3.1% in the second quarter. Boston Partners now owns 814,564 shares of the insurance provider’s stock worth $468,350,000 after acquiring an additional 24,146 shares during the period. Hedge funds and other institutional investors own 82.07% of the company’s stock.

Alleghany Company Profile

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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Earnings History and Estimates for Alleghany (NYSE:Y)

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