Alleghany Co. (Y) Expected to Announce Earnings of $7.29 Per Share

Equities analysts predict that Alleghany Co. (NYSE:Y) will announce $7.29 earnings per share for the current quarter, Zacks reports. Zero analysts have issued estimates for Alleghany’s earnings. Alleghany posted earnings of $11.24 per share in the same quarter last year, which suggests a negative year over year growth rate of 35.1%. The company is scheduled to issue its next quarterly earnings results after the market closes on Tuesday, May 7th.

On average, analysts expect that Alleghany will report full year earnings of $36.00 per share for the current year. For the next financial year, analysts anticipate that the business will post earnings of $38.85 per share. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Alleghany.

Alleghany (NYSE:Y) last issued its quarterly earnings results on Wednesday, February 20th. The insurance provider reported ($4.35) EPS for the quarter, topping the Zacks’ consensus estimate of ($5.31) by $0.96. The company had revenue of $1.23 billion during the quarter. Alleghany had a return on equity of 2.94% and a net margin of 0.57%. The firm’s quarterly revenue was down 26.6% on a year-over-year basis.

Y has been the subject of several recent analyst reports. Canaccord Genuity upgraded Alleghany to a “buy” rating in a research note on Wednesday, February 13th. JMP Securities lifted their price target on Alleghany from $675.00 to $690.00 and gave the company a “market outperform” rating in a research note on Thursday, February 21st. Zacks Investment Research lowered Alleghany from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Finally, ValuEngine lowered Alleghany from a “buy” rating to a “hold” rating in a research note on Saturday, February 23rd.

NYSE Y opened at $628.80 on Friday. The stock has a market cap of $9.07 billion, a price-to-earnings ratio of 38.98 and a beta of 0.75. Alleghany has a fifty-two week low of $558.50 and a fifty-two week high of $666.00. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.22.

In related news, Director Phillip M. Martineau sold 230 shares of the company’s stock in a transaction that occurred on Friday, March 29th. The stock was sold at an average price of $613.47, for a total value of $141,098.10. Following the transaction, the director now directly owns 3,549 shares in the company, valued at $2,177,205.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William K. Lavin sold 518 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $615.56, for a total value of $318,860.08. Following the completion of the transaction, the director now owns 2,675 shares in the company, valued at $1,646,623. The disclosure for this sale can be found here. Insiders own 3.44% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in Y. Mackenzie Financial Corp raised its position in Alleghany by 5.7% in the fourth quarter. Mackenzie Financial Corp now owns 465 shares of the insurance provider’s stock valued at $290,000 after purchasing an additional 25 shares during the period. Daiwa Securities Group Inc. raised its position in Alleghany by 7.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 548 shares of the insurance provider’s stock valued at $342,000 after purchasing an additional 40 shares during the period. Riverview Trust Co purchased a new stake in Alleghany in the fourth quarter valued at approximately $28,000. Pearl River Capital LLC purchased a new stake in Alleghany in the fourth quarter valued at approximately $30,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Alleghany by 11.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 469 shares of the insurance provider’s stock valued at $292,000 after purchasing an additional 50 shares during the period. Hedge funds and other institutional investors own 82.85% of the company’s stock.

About Alleghany

Alleghany Corporation provides property and casualty reinsurance and insurance products in the United States and internationally. The company operates in three segments: Reinsurance, Insurance, and Alleghany Capital. The Reinsurance segment offers fire, allied lines, auto physical damage, and homeowners multiple peril reinsurance products; and casualty and other reinsurance products, such as medical malpractice, ocean marine and aviation, accident and health, mortgage, surety, and credit reinsurance products, as well as directors' and officers', errors and omissions, general, and auto liability reinsurance.

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Earnings History and Estimates for Alleghany (NYSE:Y)

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