Swiss National Bank decreased its position in shares of Alleghany Co. (NYSE:Y) by 1.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,322 shares of the insurance provider’s stock after selling 1,100 shares during the quarter. Swiss National Bank owned 0.58% of Alleghany worth $42,844,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Eagle Investment Management LLC lifted its position in shares of Alleghany by 1.6% during the 2nd quarter. First Eagle Investment Management LLC now owns 615,213 shares of the insurance provider’s stock valued at $300,925,000 after buying an additional 9,400 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Alleghany by 20.0% during the 2nd quarter. Victory Capital Management Inc. now owns 598,696 shares of the insurance provider’s stock valued at $292,846,000 after buying an additional 99,834 shares in the last quarter. London Co. of Virginia lifted its position in shares of Alleghany by 20.3% during the 2nd quarter. London Co. of Virginia now owns 243,521 shares of the insurance provider’s stock valued at $119,116,000 after buying an additional 41,167 shares in the last quarter. Sound Shore Management Inc CT lifted its position in shares of Alleghany by 55.5% during the 2nd quarter. Sound Shore Management Inc CT now owns 198,162 shares of the insurance provider’s stock valued at $96,929,000 after buying an additional 70,710 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its position in shares of Alleghany by 9.4% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 159,046 shares of the insurance provider’s stock valued at $77,795,000 after buying an additional 13,722 shares in the last quarter. 86.70% of the stock is currently owned by institutional investors and hedge funds.
NYSE Y opened at $589.53 on Friday. Alleghany Co. has a 52 week low of $426.87 and a 52 week high of $847.95. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.24. The business’s fifty day simple moving average is $571.50 and its 200-day simple moving average is $531.52. The firm has a market cap of $8.33 billion, a PE ratio of -124.64 and a beta of 0.67.
Alleghany (NYSE:Y) last posted its quarterly earnings results on Sunday, November 8th. The insurance provider reported $3.23 EPS for the quarter, topping the consensus estimate of ($1.76) by $4.99. Alleghany had a positive return on equity of 1.32% and a negative net margin of 0.76%. The business had revenue of $2.52 billion for the quarter. During the same quarter in the prior year, the firm earned $7.61 EPS. The firm’s revenue was up 16.8% on a year-over-year basis. Research analysts expect that Alleghany Co. will post 7.15 EPS for the current year.
Y has been the topic of a number of research reports. TheStreet upgraded Alleghany from a “c” rating to a “b-” rating in a report on Monday, October 26th. Deutsche Bank Aktiengesellschaft raised their price objective on Alleghany from $785.00 to $800.00 and gave the company a “buy” rating in a report on Wednesday, November 4th. ValuEngine lowered Alleghany from a “buy” rating to a “hold” rating in a report on Thursday, October 1st. Finally, Zacks Investment Research upgraded Alleghany from a “sell” rating to a “strong-buy” rating and set a $610.00 price objective on the stock in a report on Saturday, November 7th. One analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $753.33.
In other Alleghany news, CFO Kerry J. Jacobs acquired 50 shares of the business’s stock in a transaction that occurred on Tuesday, November 10th. The stock was purchased at an average cost of $639.74 per share, with a total value of $31,987.00. Following the transaction, the chief financial officer now owns 949 shares of the company’s stock, valued at $607,113.26. The transaction was disclosed in a filing with the SEC, which is available at this link. 3.20% of the stock is owned by insiders.
Alleghany Company Profile
Alleghany Corporation provides property and casualty reinsurance and insurance products in the United States and internationally. The company operates in three segments: Reinsurance, Insurance, and Alleghany Capital. The Reinsurance segment offers fire, allied lines, auto physical damage, and homeowners multiple peril reinsurance products; and casualty and other reinsurance products, such as medical malpractice, ocean marine and aviation, accident and health, mortgage, surety, and credit reinsurance products, as well as directors' and officers', errors and omissions, general, and auto liability reinsurance.
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