Swiss National Bank decreased its position in Alleghany Co. (NYSE:Y) by 13.2% in the 1st quarter, Holdings Channel reports. The institutional investor owned 49,300 shares of the insurance provider’s stock after selling 7,500 shares during the period. Swiss National Bank’s holdings in Alleghany were worth $30,292,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the business. Advisor Group Inc. increased its stake in Alleghany by 64.5% in the 4th quarter. Advisor Group Inc. now owns 227 shares of the insurance provider’s stock valued at $136,000 after buying an additional 89 shares during the last quarter. Public Employees Retirement Association of Colorado increased its stake in shares of Alleghany by 3.5% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 2,752 shares of the insurance provider’s stock worth $1,640,000 after purchasing an additional 94 shares during the last quarter. Thrivent Financial For Lutherans increased its stake in shares of Alleghany by 2.9% during the 4th quarter. Thrivent Financial For Lutherans now owns 3,461 shares of the insurance provider’s stock worth $2,063,000 after purchasing an additional 99 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in shares of Alleghany by 1.6% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 8,044 shares of the insurance provider’s stock worth $4,795,000 after purchasing an additional 124 shares during the last quarter. Finally, Pzena Investment Management LLC increased its stake in shares of Alleghany by 32.2% during the 4th quarter. Pzena Investment Management LLC now owns 554 shares of the insurance provider’s stock worth $330,000 after purchasing an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 83.54% of the company’s stock.
In related news, Director William K. Lavin sold 530 shares of Alleghany stock in a transaction that occurred on Tuesday, February 27th. The shares were 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 approximately $1,669,389.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.00% of the stock is currently owned by insiders.
Several equities research analysts have recently issued reports on Y shares. TheStreet upgraded shares of Alleghany from a “c+” rating to a “b” rating in a research note on Monday, February 26th. Zacks Investment Research upgraded shares of Alleghany from a “hold” rating to a “strong-buy” rating and set a $683.00 price target for the company in a research note on Sunday, January 21st. Finally, JMP Securities restated an “outperform” rating and set a $650.00 price target (up previously from $625.00) on shares of Alleghany in a research note on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $666.50.
Shares of Y stock opened at $581.34 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. Alleghany Co. has a 12-month low of $579.96 and a 12-month high of $585.01. The company has a market cap of $8.94 billion, a PE ratio of 284.97 and a beta of 0.90.
Alleghany (NYSE:Y) last issued its quarterly earnings results on Thursday, May 3rd. The insurance provider reported $11.24 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter last year, the business posted $9.67 EPS. Alleghany’s quarterly revenue was up 3.4% compared to the same quarter last year. equities analysts forecast that Alleghany Co. will post 36.7 earnings per share for the current fiscal year.
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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