Brandywine Global Investment Management LLC lifted its holdings in Alleghany Co. (NYSE:Y) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,838 shares of the insurance provider’s stock after buying an additional 401 shares during the quarter. Brandywine Global Investment Management LLC owned 0.10% of Alleghany worth $8,845,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the stock. Nationwide Fund Advisors raised its holdings in Alleghany by 1.9% during the third quarter. Nationwide Fund Advisors now owns 39,413 shares of the insurance provider’s stock worth $21,835,000 after purchasing an additional 739 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in Alleghany by 66.7% during the third quarter. Canada Pension Plan Investment Board now owns 1,500 shares of the insurance provider’s stock worth $831,000 after purchasing an additional 600 shares during the last quarter. State of Wisconsin Investment Board raised its holdings in Alleghany by 4.8% during the third quarter. State of Wisconsin Investment Board now owns 13,912 shares of the insurance provider’s stock worth $7,707,000 after purchasing an additional 635 shares during the last quarter. Swiss National Bank raised its holdings in Alleghany by 0.9% during the third quarter. Swiss National Bank now owns 56,800 shares of the insurance provider’s stock worth $31,468,000 after purchasing an additional 500 shares during the last quarter. Finally, Global X MANAGEMENT CO LLC raised its holdings in Alleghany by 20.8% during the third quarter. Global X MANAGEMENT CO LLC now owns 772 shares of the insurance provider’s stock worth $428,000 after purchasing an additional 133 shares during the last quarter. Hedge funds and other institutional investors own 83.16% of the company’s stock.
Several brokerages recently issued reports on Y. TheStreet raised Alleghany from a “c+” rating to a “b” rating in a report on Monday, February 26th. JMP Securities reaffirmed an “outperform” rating and set a $650.00 price objective (up from $625.00) on shares of Alleghany in a report on Thursday, February 22nd. Finally, Zacks Investment Research raised Alleghany from a “hold” rating to a “strong-buy” rating and set a $683.00 price target for the company in a report on Sunday, January 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $666.50.
In related news, Director William K. Lavin sold 530 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $610.38, for a total value of $323,501.40. Following the completion of the transaction, the director now directly owns 2,735 shares in the company, valued at $1,669,389.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.04% of the company’s stock.
Alleghany stock traded down $2.16 during midday trading on Thursday, hitting $609.93. The stock had a trading volume of 2,177 shares, compared to its average volume of 70,170. Alleghany Co. has a 12 month low of $521.07 and a 12 month high of $640.31. The firm has a market capitalization of $9,455.72, a PE ratio of 404.18 and a beta of 0.93. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.29 and a current ratio of 0.29.
Alleghany (NYSE:Y) last released its quarterly earnings results on Wednesday, February 21st. The insurance provider reported $9.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $6.39 by $3.50. Alleghany had a return on equity of 0.38% and a net margin of 1.40%. The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the previous year, the firm posted $7.02 earnings per share. analysts forecast that Alleghany Co. will post 32.3 EPS for the current fiscal year.
The business also recently declared a special dividend, which was paid on Thursday, March 15th. Stockholders of record on Monday, March 5th were issued a $10.00 dividend. The ex-dividend date was Friday, March 2nd.
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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).
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