Rhumbline Advisers trimmed its holdings in shares of Alleghany Co. (NYSE:Y) by 5.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,581 shares of the insurance provider’s stock after selling 2,247 shares during the quarter. Rhumbline Advisers’ holdings in Alleghany were worth $24,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in the stock. Montag A & Associates Inc. raised its holdings in Alleghany by 16.5% in the 1st quarter. Montag A & Associates Inc. now owns 2,157 shares of the insurance provider’s stock worth $1,321,000 after purchasing an additional 305 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Alleghany by 342.9% during the first quarter. Janus Henderson Group PLC now owns 17,713 shares of the insurance provider’s stock valued at $10,851,000 after acquiring an additional 13,714 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Alleghany by 0.6% during the first quarter. Janney Montgomery Scott LLC now owns 3,135 shares of the insurance provider’s stock valued at $1,920,000 after acquiring an additional 19 shares during the last quarter. Dupont Capital Management Corp raised its holdings in shares of Alleghany by 7.0% during the first quarter. Dupont Capital Management Corp now owns 1,114 shares of the insurance provider’s stock valued at $682,000 after acquiring an additional 73 shares during the last quarter. Finally, Royal London Asset Management Ltd. acquired a new position in shares of Alleghany during the first quarter valued at approximately $3,786,000. Hedge funds and other institutional investors own 83.54% of the company’s stock.
A number of equities analysts have commented on the company. JMP Securities increased their target price on Alleghany from $690.00 to $700.00 and gave the company a “market outperform” rating in a report on Wednesday. ValuEngine cut Alleghany from a “buy” rating to a “hold” rating in a report on Saturday, February 23rd. Zacks Investment Research raised Alleghany from a “sell” rating to a “hold” rating in a report on Saturday, January 12th. Finally, Canaccord Genuity raised Alleghany to a “buy” rating in a report on Wednesday, February 13th.
NYSE:Y opened at $672.39 on Friday. Alleghany Co. has a one year low of $558.50 and a one year high of $678.35. The company has a quick ratio of 0.33, a current ratio of 0.34 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $9.80 billion, a P/E ratio of 41.69 and a beta of 0.77.
Alleghany (NYSE:Y) last issued its quarterly earnings data on Tuesday, May 7th. The insurance provider reported $9.66 earnings per share for the quarter, topping the consensus estimate of $9.51 by $0.15. The company had revenue of $2.32 billion during the quarter. Alleghany had a return on equity of 2.53% and a net margin of 4.04%. The company’s revenue was up 46.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $11.24 earnings per share. As a group, equities research analysts anticipate that Alleghany Co. will post 36 earnings per share for the current year.
In related news, Director William K. Lavin sold 518 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $615.56, for a total value of $318,860.08. Following the completion of the transaction, the director now directly owns 2,675 shares in the company, valued at $1,646,623. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William K. Lavin sold 286 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $665.24, for a total value of $190,258.64. Following the completion of the transaction, the director now owns 2,295 shares of the company’s stock, valued at $1,526,725.80. The disclosure for this sale can be found here. Insiders sold 1,034 shares of company stock valued at $650,217 over the last quarter. 3.44% of the stock is currently owned by company insiders.
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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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