Swiss National Bank lowered its position in shares of Alleghany Co. (NYSE:Y) by 13.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,300 shares of the insurance provider’s stock after selling 7,500 shares during the quarter. Swiss National Bank owned about 0.32% of Alleghany worth $30,292,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of Y. BlackRock Inc. boosted its position in shares of Alleghany by 2.4% during the 4th quarter. BlackRock Inc. now owns 1,457,806 shares of the insurance provider’s stock worth $868,985,000 after purchasing an additional 34,808 shares in the last quarter. Boston Partners boosted its position in shares of Alleghany by 3.3% during the 1st quarter. Boston Partners now owns 790,418 shares of the insurance provider’s stock worth $485,664,000 after purchasing an additional 25,441 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Alleghany by 2.3% during the 4th quarter. Franklin Resources Inc. now owns 661,912 shares of the insurance provider’s stock worth $394,559,000 after purchasing an additional 14,701 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Alleghany by 9.0% during the 1st quarter. Victory Capital Management Inc. now owns 508,605 shares of the insurance provider’s stock worth $312,507,000 after purchasing an additional 42,024 shares in the last quarter. Finally, Kiltearn Partners LLP boosted its position in shares of Alleghany by 1.5% during the 4th quarter. Kiltearn Partners LLP now owns 302,380 shares of the insurance provider’s stock worth $180,246,000 after purchasing an additional 4,500 shares in the last quarter. 83.54% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE Y opened at $581.34 on Friday. Alleghany Co. has a fifty-two week low of $579.96 and a fifty-two week high of $585.01. The stock has a market capitalization of $8.94 billion, a P/E ratio of 284.97 and a beta of 0.90. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18.
Alleghany (NYSE:Y) last announced its quarterly earnings results on Thursday, May 3rd. The insurance provider reported $11.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $8.37 by $2.87. Alleghany had a net margin of 1.74% and a return on equity of 1.12%. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter last year, the firm earned $9.67 EPS. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. sell-side analysts expect that Alleghany Co. will post 36.7 earnings per share for the current year.
Y has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Alleghany from a “hold” rating to a “strong-buy” rating and set a $683.00 price objective on the stock in a research report on Sunday, January 21st. JMP Securities reaffirmed an “outperform” rating and issued a $650.00 price target (up previously from $625.00) on shares of Alleghany in a research report on Thursday, February 22nd. Finally, TheStreet raised shares of Alleghany from a “c+” rating to a “b” rating in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Alleghany presently has an average rating of “Hold” and an average price target of $666.50.
In related news, Director William K. Lavin sold 530 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $610.38, for a total value of $323,501.40. Following the transaction, the director now owns 2,735 shares of the company’s stock, valued at approximately $1,669,389.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.00% of the stock is currently owned by company insiders.
Alleghany Company Profile
Alleghany Corporation provides property and casualty reinsurance and insurance products in the United States and internationally. The company operates in two segments, Reinsurance and Insurance. The Reinsurance segment offers property reinsurance products, including fire, allied lines, auto physical damage, and homeowners multiple peril reinsurance products; and casualty and other reinsurance products, such as liability, medical malpractice, ocean marine and aviation, auto liability, accident and health, surety, and credit reinsurance products.
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