Alleghany (NYSE:Y) Announces Quarterly Earnings Results, Misses Expectations By $0.87 EPS

Alleghany (NYSE:YGet Rating) released its earnings results on Thursday. The insurance provider reported $17.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $18.15 by ($0.87), reports. Alleghany had a return on equity of 8.22% and a net margin of 7.71%. During the same period in the prior year, the business posted $17.39 EPS.

Alleghany Stock Performance

Shares of NYSE Y traded down $0.34 during midday trading on Friday, reaching $837.20. The company’s stock had a trading volume of 42,219 shares, compared to its average volume of 122,533. Alleghany has a 12-month low of $585.10 and a 12-month high of $862.87. The firm has a 50 day moving average price of $834.17 and a 200-day moving average price of $783.58. The stock has a market capitalization of $11.26 billion, a P/E ratio of 12.41 and a beta of 0.57. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.34 and a quick ratio of 0.34.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on Y shares. lowered Alleghany from a “buy” rating to a “hold” rating in a research note on Wednesday, April 13th. JMP Securities downgraded Alleghany from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 19th. Finally, Keefe, Bruyette & Woods downgraded Alleghany from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 20th.

Institutional Investors Weigh In On Alleghany

A number of hedge funds and other institutional investors have recently bought and sold shares of Y. Goldman Sachs Group Inc. raised its stake in shares of Alleghany by 69.7% during the first quarter. Goldman Sachs Group Inc. now owns 79,119 shares of the insurance provider’s stock valued at $67,014,000 after acquiring an additional 32,494 shares during the last quarter. Sculptor Capital LP purchased a new stake in shares of Alleghany during the first quarter valued at approximately $11,219,000. Polar Asset Management Partners Inc. purchased a new stake in Alleghany in the first quarter worth approximately $10,556,000. Verition Fund Management LLC boosted its holdings in Alleghany by 1,032.3% in the first quarter. Verition Fund Management LLC now owns 10,055 shares of the insurance provider’s stock worth $8,517,000 after purchasing an additional 9,167 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Alleghany by 2.0% during the 1st quarter. State Street Corp now owns 467,048 shares of the insurance provider’s stock worth $395,590,000 after acquiring an additional 9,129 shares during the last quarter. Institutional investors own 84.44% of the company’s stock.

About Alleghany

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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 for Alleghany (NYSE:Y)

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