Point72 Asia Hong Kong Ltd increased its position in shares of Alleghany Co. (NYSE:Y) by 981.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 692 shares of the insurance provider’s stock after acquiring an additional 628 shares during the quarter. Point72 Asia Hong Kong Ltd’s holdings in Alleghany were worth $425,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of Y. Advisor Group Inc. increased its stake in Alleghany by 64.5% during the 4th quarter. Advisor Group Inc. now owns 227 shares of the insurance provider’s stock valued at $136,000 after purchasing an additional 89 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in Alleghany during the 4th quarter valued at approximately $179,000. Schroder Investment Management Group acquired a new position in Alleghany during the 1st quarter valued at approximately $191,000. IBM Retirement Fund acquired a new position in Alleghany during the 1st quarter valued at approximately $200,000. Finally, Texas Yale Capital Corp. purchased a new stake in shares of Alleghany in the 4th quarter valued at $209,000. Hedge funds and other institutional investors own 82.05% of the company’s stock.
In related news, Director William K. Lavin sold 293 shares of the firm’s stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $580.61, for a total transaction of $170,118.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.00% of the stock is currently owned by company insiders.
A number of analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Alleghany from a “strong-buy” rating to a “hold” rating in a report on Monday, April 30th. TheStreet raised shares of Alleghany from a “c+” rating to a “b” rating in a report on Monday, February 26th. Finally, JMP Securities reissued an “outperform” rating and set a $650.00 price target (up from $625.00) on shares of Alleghany in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $666.50.
Alleghany opened at $584.44 on Thursday, according to MarketBeat Ratings. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. The firm has a market cap of $9.07 billion, a price-to-earnings ratio of 286.49 and a beta of 0.90. Alleghany Co. has a 52-week low of $521.07 and a 52-week high of $639.42.
Alleghany (NYSE:Y) last issued its earnings results on Thursday, May 3rd. The insurance provider reported $11.24 EPS for the quarter, beating the Zacks’ consensus estimate of $8.37 by $2.87. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Alleghany had a net margin of 1.74% and a return on equity of 1.12%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business earned $9.67 earnings per share. research analysts anticipate that Alleghany Co. will post 36.7 earnings per share for the current fiscal year.
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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