JMP Securities Believes Alleghany (Y) Still Has Room to Grow

JMP Securities analyst Matthew Carletti maintained a Buy rating on Alleghany (YResearch Report) today and set a price target of $850.00. The company’s shares closed last Thursday at $844.88, close to its 52-week high of $862.87.

According to, Carletti is a 4-star analyst with an average return of 7.1% and a 66.9% success rate. Carletti covers the Financial sector, focusing on stocks such as Argo Group International Holdings, Heritage Insurance Holdings, and Old Republic International.

Alleghany has an analyst consensus of Moderate Buy, with a price target consensus of $832.50, implying a -1.7% downside from current levels. In a report issued on March 20, KBW also initiated coverage with a Buy rating on the stock with a $815.00 price target.

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Alleghany’s market cap is currently $11.36B and has a P/E ratio of 11.33.

Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of Y in relation to earlier this year. Earlier this month, John Foos, a Director at Y bought 223 shares for a total of $72,863.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Alleghany Corp. engages in the provision of property, casualty reinsurance, insurance and financial services. It operates its through the Reinsurance and Insurance segments. The Reinsurance segment consists of property and casualty and other reinsurance operations. The Insurance segment consists of property and casualty insurance operations. The company was founded by Oris Paxton Van Sweringen and Mantis James Van Sweringen in 1929 and is headquartered in New York, NY.

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