Federated Investors Inc. PA boosted its position in shares of Alleghany Co. (NYSE:Y) by 1,068.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,298 shares of the insurance provider’s stock after purchasing an additional 63,369 shares during the period. Federated Investors Inc. PA’s holdings in Alleghany were worth $45,219,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Alleghany by 0.3% during the 3rd quarter. BlackRock Inc. now owns 1,502,960 shares of the insurance provider’s stock valued at $980,726,000 after acquiring an additional 5,008 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Alleghany by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 119,754 shares of the insurance provider’s stock valued at $68,864,000 after acquiring an additional 2,301 shares during the last quarter. Legal & General Group Plc boosted its stake in Alleghany by 5.0% during the 3rd quarter. Legal & General Group Plc now owns 94,091 shares of the insurance provider’s stock valued at $61,366,000 after acquiring an additional 4,481 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Alleghany by 4.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 61,887 shares of the insurance provider’s stock valued at $35,584,000 after acquiring an additional 2,653 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in Alleghany by 2.9% during the 3rd quarter. Bank of Montreal Can now owns 60,786 shares of the insurance provider’s stock valued at $39,665,000 after acquiring an additional 1,697 shares during the last quarter. 81.48% of the stock is owned by institutional investors and hedge funds.
Separately, Zacks Investment Research restated a “sell” rating on shares of Alleghany in a research report on Saturday, November 17th.
In other news, Director William K. Lavin sold 528 shares of the firm’s stock in a transaction dated Tuesday, November 13th. The shares were sold at an average price of $622.84, for a total value of $328,859.52. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 4.00% of the company’s stock.
Alleghany stock opened at $608.03 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.29 and a current ratio of 0.29. Alleghany Co. has a 1 year low of $558.50 and a 1 year high of $659.88. The stock has a market capitalization of $9.13 billion, a PE ratio of 298.05 and a beta of 0.98.
Alleghany (NYSE:Y) last posted its quarterly earnings results on Thursday, November 1st. The insurance provider reported ($1.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.50 by ($4.57). Alleghany had a return on equity of 5.42% and a net margin of 12.34%. The business had revenue of $1.35 billion during the quarter. On average, research analysts expect that Alleghany Co. will post 27.95 earnings per share for the current year.
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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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