Alleghany Corporation (Y) Shares Sold by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan trimmed its holdings in Alleghany Corporation (NYSE:Y) by 21.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,670 shares of the insurance provider’s stock after selling 1,290 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Alleghany Corporation were worth $2,587,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Alleghany Corporation by 14.9% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 4,750 shares of the insurance provider’s stock worth $2,825,000 after buying an additional 616 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Alleghany Corporation by 1.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 345,474 shares of the insurance provider’s stock worth $205,487,000 after buying an additional 5,434 shares during the last quarter. Commonwealth Bank of Australia boosted its stake in Alleghany Corporation by 1,470.6% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,602 shares of the insurance provider’s stock worth $952,000 after buying an additional 1,500 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Alleghany Corporation by 28.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 900 shares of the insurance provider’s stock worth $535,000 after buying an additional 200 shares during the last quarter. Finally, Findlay Park Partners LLP boosted its stake in Alleghany Corporation by 24.1% in the 2nd quarter. Findlay Park Partners LLP now owns 202,142 shares of the insurance provider’s stock worth $120,234,000 after buying an additional 39,234 shares during the last quarter. 81.02% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: “Alleghany Corporation (Y) Shares Sold by Municipal Employees Retirement System of Michigan” was originally posted by Stock Observer and is owned by of Stock Observer. If you are accessing this report on another site, it was illegally stolen and republished in violation of United States & international trademark & copyright law. The legal version of this report can be read at https://www.thestockobserver.com/2017/11/14/alleghany-corporation-y-shares-sold-by-municipal-employees-retirement-system-of-michigan.html.

Y has been the topic of a number of research analyst reports. BidaskClub raised Alleghany Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Zacks Investment Research raised Alleghany Corporation from a “sell” rating to a “hold” rating in a research note on Monday. Finally, JMP Securities raised Alleghany Corporation from a “market perform” rating to an “outperform” rating and set a $625.00 price objective on the stock in a research note on Monday, September 11th.

Alleghany Corporation (NYSE Y) traded down $3.24 during midday trading on Tuesday, hitting $576.37. The stock had a trading volume of 75,300 shares, compared to its average volume of 49,951. Alleghany Corporation has a fifty-two week low of $521.07 and a fifty-two week high of $667.19. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.18.

Alleghany Corporation (NYSE:Y) last released its quarterly earnings data on Thursday, November 2nd. The insurance provider reported ($22.03) earnings per share for the quarter, beating the consensus estimate of ($28.83) by $6.80. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.36 billion. Alleghany Corporation had a negative return on equity of 0.14% and a net margin of 0.10%. During the same period in the previous year, the company posted $10.09 EPS. sell-side analysts expect that Alleghany Corporation will post -0.24 EPS for the current fiscal year.

Alleghany Corporation Company Profile

Alleghany Corporation is an insurance holding company. The Company, through its subsidiary Alleghany Insurance Holdings LLC (AIHL) and its subsidiaries, is engaged in the property and casualty insurance business. AIHL’s insurance operations are conducted by its subsidiaries RSUI Group, Inc (RSUI), CapSpecialty, Inc (CapSpecialty) and Pacific Compensation Corporation (PacificComp).

Institutional Ownership by Quarter for Alleghany Corporation (NYSE:Y)

Receive News & Ratings for Alleghany Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alleghany Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply