BidaskClub Lowers Alleghany Corporation (Y) to Strong Sell

Alleghany Corporation (NYSE:Y) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Thursday.

A number of other research firms also recently weighed in on Y. Zacks Investment Research downgraded Alleghany Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Credit Suisse Group reiterated a “hold” rating on shares of Alleghany Corporation in a research report on Tuesday, July 11th.

Shares of Alleghany Corporation (NYSE Y) traded down 1.053% on Thursday, reaching $591.565. The company had a trading volume of 2,216 shares. The company’s 50-day moving average price is $602.58 and its 200-day moving average price is $608.91. Alleghany Corporation has a 52-week low of $510.52 and a 52-week high of $667.19. The firm has a market capitalization of $9.12 billion, a price-to-earnings ratio of 19.164 and a beta of 0.92.

Alleghany Corporation (NYSE:Y) last released its earnings results on Thursday, August 3rd. The insurance provider reported $6.37 earnings per share for the quarter, missing analysts’ consensus estimates of $8.10 by $1.73. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.39 billion. Alleghany Corporation had a net margin of 7.74% and a return on equity of 5.70%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.99 earnings per share. On average, analysts predict that Alleghany Corporation will post $28.68 earnings per share for the current year.

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Institutional investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System boosted its position in Alleghany Corporation by 2.6% in the first quarter. Louisiana State Employees Retirement System now owns 3,900 shares of the insurance provider’s stock worth $2,397,000 after buying an additional 100 shares during the period. Ameriprise Financial Inc. boosted its position in Alleghany Corporation by 1.7% in the first quarter. Ameriprise Financial Inc. now owns 64,170 shares of the insurance provider’s stock worth $39,443,000 after buying an additional 1,047 shares during the period. American International Group Inc. boosted its position in Alleghany Corporation by 3.7% in the first quarter. American International Group Inc. now owns 31,248 shares of the insurance provider’s stock worth $19,207,000 after buying an additional 1,110 shares during the period. Jane Street Group LLC acquired a new position in Alleghany Corporation during the first quarter worth approximately $349,000. Finally, Huntington National Bank boosted its position in Alleghany Corporation by 1.0% in the first quarter. Huntington National Bank now owns 401 shares of the insurance provider’s stock worth $246,000 after buying an additional 4 shares during the period. 81.36% of the stock is owned by institutional investors.

About Alleghany Corporation

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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