Cubist Systematic Strategies LLC lifted its position in shares of Alleghany Co. (NYSE:Y) by 150.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,344 shares of the insurance provider’s stock after buying an additional 3,809 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Alleghany were worth $3,103,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. First Mercantile Trust Co. boosted its stake in Alleghany by 3.6% during the second quarter. First Mercantile Trust Co. now owns 521 shares of the insurance provider’s stock worth $255,000 after acquiring an additional 18 shares in the last quarter. Piedmont Investment Advisors Inc. boosted its stake in Alleghany by 1.9% during the first quarter. Piedmont Investment Advisors Inc. now owns 1,218 shares of the insurance provider’s stock worth $673,000 after acquiring an additional 23 shares in the last quarter. Schroder Investment Management Group boosted its stake in Alleghany by 1.0% during the first quarter. Schroder Investment Management Group now owns 2,788 shares of the insurance provider’s stock worth $1,503,000 after acquiring an additional 27 shares in the last quarter. Roosevelt Investment Group Inc. boosted its stake in Alleghany by 0.9% during the first quarter. Roosevelt Investment Group Inc. now owns 3,909 shares of the insurance provider’s stock worth $2,159,000 after acquiring an additional 36 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in shares of Alleghany by 11.4% in the first quarter. Mackenzie Financial Corp now owns 382 shares of the insurance provider’s stock valued at $211,000 after buying an additional 39 shares in the last quarter. Institutional investors own 86.70% of the company’s stock.
Shares of Alleghany stock opened at $523.04 on Wednesday. Alleghany Co. has a 1 year low of $426.87 and a 1 year high of $847.95. The firm has a market cap of $7.49 billion, a PE ratio of -110.58 and a beta of 0.65. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.37 and a quick ratio of 0.37. The company has a 50 day simple moving average of $542.88 and a two-hundred day simple moving average of $535.43.
Alleghany (NYSE:Y) last announced its earnings results on Tuesday, August 4th. The insurance provider reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.36 by ($3.50). Alleghany had a negative net margin of 0.76% and a positive return on equity of 1.32%. The company had revenue of $2.01 billion for the quarter. As a group, research analysts anticipate that Alleghany Co. will post 7.65 earnings per share for the current year.
A number of research analysts recently weighed in on the stock. Deutsche Bank raised their price target on shares of Alleghany from $760.00 to $785.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. ValuEngine upgraded shares of Alleghany from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th.
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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