Citigroup Upgrades Alleghany Corporation to Buy with Price Target $43.00

Brokerage firm Citigroup Upgrades its rating on Alleghany Corporation(NYSE:Y). In a research note issued to the investors, the brokerage major Raises the price-target to $43.00 per share. The shares have been rated Buy. Previously, the analysts had a Neutral rating on the shares. The rating by Citigroup was issued on Jun 16, 2016.

Alleghany Corporation (Y) made into the market gainers list on Tuesdays trading session with the shares advancing 0.79% or 4.17 points. Due to strong positive momentum, the stock ended at $532.07, which is also near the day’s high of $532.8. The stock began the session at $530.9 and the volume stood at 73,062 shares. The 52-week high of the shares is $547.98 and the 52 week low is $440.24. The company has a current market capitalization of $8,214 M and it has 1,54,38,632 shares in outstanding.

Alleghany Corporation(Y) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $1.22B. Analysts had an estimated revenue of $1.15B. Earnings per share were $9.32. Analysts had estimated an EPS of $7.58.

Several Insider Transactions has been reported to the SEC. On May 11, 2016, William K Lavin (director) sold 336 shares at $520.51 per share price.

Alleghany Corporation owns and manages its subsidiaries and investments in the property and casualty reinsurance and insurance business. The Company operates through two segments: reinsurance and insurance. The Company’s reinsurance segment consists of the reinsurance operations of its subsidiary Transatlantic Holdings Inc. and its reinsurance operating subsidiaries. The Company through its wholly owned subsidiary Alleghany Insurance Holdings LLC (AIHL) and its subsidiaries provides property and casualty insurance services. AIHL’s insurance operations are principally conducted by its subsidiaries RSUI Group Inc. CapSpecialty Inc. and Pacific Compensation Corporation. AIHL Re LLC a wholly owned subsidiary of the Company provides captive reinsurance to its insurance operating subsidiaries and affiliates. The Company manages sources executes and monitors certain private capital investments primarily through its wholly owned subsidiary Alleghany Capital Corporation (ACC).

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