Verition Fund Management LLC purchased a new stake in Alleghany Co. (NYSE:Y) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 426 shares of the insurance provider’s stock, valued at approximately $208,000.
Other large investors have also made changes to their positions in the company. Marshall Wace North America L.P. bought a new position in shares of Alleghany in the 1st quarter valued at about $61,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Alleghany in the first quarter worth about $78,000. US Bancorp DE lifted its stake in Alleghany by 104.8% in the first quarter. US Bancorp DE now owns 170 shares of the insurance provider’s stock worth $94,000 after purchasing an additional 87 shares during the last quarter. CSat Investment Advisory L.P. lifted its stake in Alleghany by 768.9% in the second quarter. CSat Investment Advisory L.P. now owns 391 shares of the insurance provider’s stock worth $191,000 after purchasing an additional 346 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in Alleghany by 11.4% in the first quarter. Mackenzie Financial Corp now owns 382 shares of the insurance provider’s stock worth $211,000 after purchasing an additional 39 shares during the last quarter. 86.70% of the stock is owned by hedge funds and other institutional investors.
Y has been the subject of several analyst reports. ValuEngine raised shares of Alleghany from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Deutsche Bank lifted their price target on shares of Alleghany from $760.00 to $785.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th.
Shares of Y stock opened at $523.04 on Wednesday. The firm has a market cap of $7.49 billion, a price-to-earnings ratio of -110.58 and a beta of 0.65. The company’s 50 day moving average is $542.88 and its 200 day moving average is $535.43. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.24. Alleghany Co. has a 52-week low of $426.87 and a 52-week high of $847.95.
Alleghany (NYSE:Y) last issued its quarterly earnings data on Tuesday, August 4th. The insurance provider reported $0.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.36 by ($3.50). The business had revenue of $2.01 billion for the quarter. Alleghany had a negative net margin of 0.76% and a positive return on equity of 1.32%. Analysts anticipate that Alleghany Co. will post 7.65 EPS for the current fiscal year.
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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