Montag A & Associates Inc. reduced its holdings in shares of Alleghany Co. (NYSE:Y) by 28.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,764 shares of the insurance provider’s stock after selling 690 shares during the period. Montag A & Associates Inc.’s holdings in Alleghany were worth $1,407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Nuveen Asset Management LLC purchased a new stake in Alleghany during the 2nd quarter valued at about $58,571,000. Prudential Financial Inc. grew its stake in Alleghany by 453.6% during the 2nd quarter. Prudential Financial Inc. now owns 50,265 shares of the insurance provider’s stock valued at $34,236,000 after purchasing an additional 41,185 shares during the last quarter. Renaissance Technologies LLC grew its stake in Alleghany by 58.2% during the 2nd quarter. Renaissance Technologies LLC now owns 74,788 shares of the insurance provider’s stock valued at $50,939,000 after purchasing an additional 27,500 shares during the last quarter. First Trust Advisors LP grew its stake in Alleghany by 692.4% during the 3rd quarter. First Trust Advisors LP now owns 23,431 shares of the insurance provider’s stock valued at $18,692,000 after purchasing an additional 20,474 shares during the last quarter. Finally, California Public Employees Retirement System grew its stake in Alleghany by 20.5% during the 2nd quarter. California Public Employees Retirement System now owns 114,739 shares of the insurance provider’s stock valued at $78,150,000 after purchasing an additional 19,522 shares during the last quarter. 81.27% of the stock is currently owned by institutional investors.
Shares of Y traded down $1.50 during mid-day trading on Friday, reaching $775.30. The company had a trading volume of 34,801 shares, compared to its average volume of 73,547. Alleghany Co. has a 52-week low of $577.59 and a 52-week high of $808.50. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $10.91 billion, a P/E ratio of 48.07 and a beta of 0.60. The stock has a 50 day moving average of $775.54 and a two-hundred day moving average of $721.66.
Alleghany (NYSE:Y) last issued its earnings results on Tuesday, November 5th. The insurance provider reported $7.61 EPS for the quarter, topping analysts’ consensus estimates of $6.08 by $1.53. Alleghany had a return on equity of 4.45% and a net margin of 1.43%. The firm had revenue of $1.53 billion for the quarter. During the same quarter in the previous year, the company earned $7.61 EPS. On average, sell-side analysts expect that Alleghany Co. will post 37.63 earnings per share for the current year.
Several analysts have weighed in on Y shares. ValuEngine downgraded Alleghany from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research downgraded Alleghany from a “buy” rating to a “hold” rating and set a $809.00 target price on the stock. in a research note on Sunday, July 14th. Credit Suisse Group set a $61.00 target price on Alleghany and gave the stock a “hold” rating in a research note on Friday, August 30th. Deutsche Bank upgraded Alleghany from a “hold” rating to a “buy” rating and upped their target price for the stock from $735.00 to $900.00 in a research note on Wednesday, September 4th. Finally, JMP Securities upped their target price on Alleghany from $775.00 to $875.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $661.25.
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.
Featured Article: Most Volatile Stocks – What Investors Need to Know to Maximize ROI
Want to see what other hedge funds are holding Y? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alleghany Co. (NYSE:Y).
Receive News & Ratings for Alleghany Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alleghany and related companies with MarketBeat.com's FREE daily email newsletter.