SG Americas Securities LLC Increases Stock Position in Alleghany Co. (NYSE:Y)

SG Americas Securities LLC grew its stake in Alleghany Co. (NYSE:Y) by 43.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,972 shares of the insurance provider’s stock after buying an additional 1,495 shares during the period. SG Americas Securities LLC’s holdings in Alleghany were worth $2,432,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Magnetar Financial LLC purchased a new position in shares of Alleghany in the 1st quarter worth about $431,000. AQR Capital Management LLC boosted its stake in Alleghany by 4.0% in the first quarter. AQR Capital Management LLC now owns 105,950 shares of the insurance provider’s stock worth $58,521,000 after buying an additional 4,054 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in Alleghany by 67.2% in the first quarter. Treasurer of the State of North Carolina now owns 5,996 shares of the insurance provider’s stock worth $3,312,000 after buying an additional 2,409 shares in the last quarter. Rhumbline Advisers grew its position in Alleghany by 6.4% during the first quarter. Rhumbline Advisers now owns 44,272 shares of the insurance provider’s stock valued at $24,454,000 after acquiring an additional 2,652 shares during the last quarter. Finally, Xact Kapitalforvaltning AB raised its stake in shares of Alleghany by 14.3% during the first quarter. Xact Kapitalforvaltning AB now owns 2,826 shares of the insurance provider’s stock worth $1,561,000 after acquiring an additional 353 shares in the last quarter. 81.84% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently issued reports on Y shares. Deutsche Bank cut their target price on shares of Alleghany from $800.00 to $700.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. ValuEngine raised shares of Alleghany from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Finally, JMP Securities cut their target price on Alleghany from $900.00 to $850.00 and set a “market outperform” rating on the stock in a research note on Thursday, April 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $608.75.

NYSE:Y opened at $537.00 on Friday. The firm has a market capitalization of $7.63 billion, a P/E ratio of 160.78 and a beta of 0.62. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.33 and a quick ratio of 0.33. Alleghany Co. has a one year low of $426.87 and a one year high of $847.95. The company’s 50-day simple moving average is $506.97 and its 200 day simple moving average is $605.40.

Alleghany (NYSE:Y) last posted its quarterly earnings data on Tuesday, May 5th. The insurance provider reported $4.99 earnings per share for the quarter, missing the Zacks’ consensus estimate of $7.95 by ($2.96). Alleghany had a net margin of 0.69% and a return on equity of 3.26%. The company had revenue of $2.02 billion for the quarter. On average, equities research analysts expect that Alleghany Co. will post 5.8 earnings per share for the current fiscal year.

Alleghany Company Profile

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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Institutional Ownership by Quarter for Alleghany (NYSE:Y)

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