Stock Worth Watching: Could Alleghany Corporation Lose its Strength? The Stock Reaches All Time High

Stock Worth Watching: Could Alleghany Corporation Lose its Strength? The Stock Reaches All Time High

The stock of Alleghany Corporation (NYSE:Y) reached all time high today, Nov, 24 and still has $626.43 target or 9.00% above today’s $574.71 share price. This indicates more upside for the $9.00 billion company. This technical setup was reported by Barchart.com. If the $626.43 PT is reached, the company will be worth $810.00M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock increased 1.70% or $9.6 on November 23, hitting $574.71. About 43,631 shares traded hands. Alleghany Corporation (NYSE:Y) has risen 12.12% since April 22, 2016 and is uptrending. It has outperformed by 6.71% the S&P500.

Analysts await Alleghany Corporation (NYSE:Y) to report earnings on February, 28. They expect $5.78 earnings per share, down 31.52% or $2.66 from last year’s $8.44 per share. Y’s profit will be $90.52M for 24.86 P/E if the $5.78 EPS becomes a reality. After $9.44 actual earnings per share reported by Alleghany Corporation for the previous quarter, Wall Street now forecasts -38.77% negative EPS growth.

According to Zacks Investment Research, “ALLEGHANY CORP. is engaged, through its subsidiaries Chicago Title and Trust Company (CT&T), Chicago Title Insurance Company (CTI), Security Union Title Insurance Company (Security Union) and Ticor Title Insurance Company (Ticor Title) and their subsidiaries, in the sale and underwriting of title insurance and in other real estate-related services businesses, and through CT&T’s subsidiary, Alleghany Asset Management, Inc. (Alleghany Asset Management) and its subsidiaries, in certain other financial services businesses.”

Insitutional Activity: The institutional sentiment decreased to 0.94 in 2016 Q2. Its down 0.14, from 1.08 in 2016Q1. The ratio dropped, as 21 funds sold all Alleghany Corporation shares owned while 108 reduced positions. 21 funds bought stakes while 118 increased positions. They now own 12.39 million shares or 36.94% less from 19.65 million shares in 2016Q1.
Moreover, Schwartz Investment Counsel has 0.43% invested in Alleghany Corporation (NYSE:Y) for 10,886 shares. Messner And Smith Theme Value Inv Management Ca has invested 0.71% of its portfolio in Alleghany Corporation (NYSE:Y). Central Secs Corp reported 21,000 shares or 2.68% of all its holdings. Systematic Fincl Mngmt L P holds 0.01% of its portfolio in Alleghany Corporation (NYSE:Y) for 895 shares. Jpmorgan Chase And reported 357,577 shares or 0.05% of all its holdings. Thrivent Fincl For Lutherans accumulated 0.01% or 2,220 shares. Blackrock accumulated 27,526 shares or 0.02% of the stock. Meeder Asset Mngmt accumulated 1,403 shares or 0.07% of the stock. Cannell Peter B & last reported 0.13% of its portfolio in the stock. Sii Invs Wi has 0.02% invested in the company for 427 shares. The Colorado-based Brc Inv Management Ltd Liability has invested 0.13% in Alleghany Corporation (NYSE:Y). Moreover, Montag A Associate has 0.08% invested in Alleghany Corporation (NYSE:Y) for 1,130 shares. Bluecrest Management has 616 shares for 0.01% of their US portfolio. Amg National Trust Bancorp reported 1,250 shares or 0.06% of all its holdings. Brandywine Mngmt Ltd Limited Liability Company has 0.06% invested in the company for 15,678 shares.

More important recent Alleghany Corporation (NYSE:Y) news were published by: Prnewswire.com which released: “Alleghany Corporation Announces Preliminary Hurricane Matthew Loss Estimate” on November 17, 2016, also Prnewswire.com published article titled: “Alleghany Corporation Reports 2016 Third Quarter Results — Notice”, Reuters.com published: “BRIEF-Alleghany corporation announces preliminary hurricane Matthew loss e…” on November 17, 2016. More interesting news about Alleghany Corporation (NYSE:Y) was released by: Zacks.com and their article: “Alleghany Corporation Unit Expands Mobile Medical Services” with publication date: November 17, 2016.

Y Company Profile

Alleghany Corporation, incorporated on November 16, 1984, is an insurance holding company. The Firm owns and manages operating subsidiaries and investments, which are involved in the property and casualty reinsurance and insurance. The Firm operates through two divisions: reinsurance and insurance. The Company’s reinsurance segment consists of property and casualty reinsurance activities conducted by the Company’s subsidiary, Transatlantic Holdings, Inc. (TransRe), and its reinsurance operating subsidiaries. The Company’s insurance segment consists of property and casualty insurance activities conducted by Alleghany Insurance Holdings LLC (AIHL) through its insurance operating subsidiaries, RSUI Group, Inc. (RSUI), CapSpecialty, Inc. (CapSpecialty) and Pacific Compensation Corporation (PacificComp). The Firm owns and manages properties in the Sacramento, California region through its subsidiary, Alleghany Properties Holdings LLC (Alleghany Properties).

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