Third Avenue Management LLC Sells 8,465 Shares of Alleghany Corporation (Y)

Third Avenue Management LLC lessened its stake in shares of Alleghany Corporation (NYSE:Y) by 10.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 69,217 shares of the insurance provider’s stock after selling 8,465 shares during the quarter. Alleghany Corporation comprises approximately 1.7% of Third Avenue Management LLC’s holdings, making the stock its 16th largest position. Third Avenue Management LLC owned about 0.45% of Alleghany Corporation worth $38,347,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Alleghany Corporation by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 1,265,276 shares of the insurance provider’s stock worth $752,586,000 after acquiring an additional 32,388 shares in the last quarter. Boston Partners boosted its stake in shares of Alleghany Corporation by 4.6% during the 2nd quarter. Boston Partners now owns 697,329 shares of the insurance provider’s stock worth $414,771,000 after acquiring an additional 30,815 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in shares of Alleghany Corporation by 0.4% during the 2nd quarter. First Eagle Investment Management LLC now owns 654,941 shares of the insurance provider’s stock worth $389,559,000 after acquiring an additional 2,756 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Alleghany Corporation by 30.3% during the 2nd quarter. Victory Capital Management Inc. now owns 366,174 shares of the insurance provider’s stock valued at $217,800,000 after purchasing an additional 85,145 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Alleghany Corporation by 1.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 345,474 shares of the insurance provider’s stock valued at $205,487,000 after purchasing an additional 5,434 shares during the period. Institutional investors own 81.02% of the company’s stock.

Shares of Alleghany Corporation (Y) opened at $576.37 on Wednesday. Alleghany Corporation has a 52 week low of $521.07 and a 52 week high of $667.19. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.27 and a quick ratio of 0.27.

Alleghany Corporation (NYSE:Y) last announced its earnings results on Thursday, November 2nd. The insurance provider reported ($22.03) earnings per share for the quarter, beating the consensus estimate of ($28.83) by $6.80. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.36 billion. Alleghany Corporation had a negative return on equity of 0.14% and a net margin of 0.10%. During the same quarter in the prior year, the company earned $10.09 EPS. equities research analysts anticipate that Alleghany Corporation will post -0.24 earnings per share for the current fiscal year.

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Several analysts recently weighed in on Y shares. BidaskClub upgraded Alleghany Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Zacks Investment Research downgraded Alleghany Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, JMP Securities upgraded Alleghany Corporation from a “market perform” rating to an “outperform” rating and set a $625.00 target price for the company in a research note on Monday, September 11th.

About Alleghany Corporation

Alleghany Corporation is an insurance holding company. The Company, through its subsidiary Alleghany Insurance Holdings LLC (AIHL) and its subsidiaries, is engaged in the property and casualty insurance business. AIHL’s insurance operations are conducted by its subsidiaries RSUI Group, Inc (RSUI), CapSpecialty, Inc (CapSpecialty) and Pacific Compensation Corporation (PacificComp).

Institutional Ownership by Quarter for Alleghany Corporation (NYSE:Y)

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