DekaBank Deutsche Girozentrale reduced its position in shares of Alleghany Co. (NYSE:Y) by 85.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,854 shares of the insurance provider’s stock after selling 10,909 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Alleghany were worth $1,178,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in Y. Arizona State Retirement System increased its holdings in Alleghany by 5.0% during the fourth quarter. Arizona State Retirement System now owns 19,152 shares of the insurance provider’s stock worth $11,416,000 after buying an additional 905 shares during the last quarter. BlackRock Inc. increased its holdings in Alleghany by 2.4% during the fourth quarter. BlackRock Inc. now owns 1,457,806 shares of the insurance provider’s stock worth $868,985,000 after buying an additional 34,808 shares during the last quarter. Xact Kapitalforvaltning AB increased its holdings in Alleghany by 10.7% during the fourth quarter. Xact Kapitalforvaltning AB now owns 1,395 shares of the insurance provider’s stock worth $832,000 after buying an additional 135 shares during the last quarter. Flinton Capital Management LLC increased its holdings in Alleghany by 18.5% during the fourth quarter. Flinton Capital Management LLC now owns 1,792 shares of the insurance provider’s stock worth $1,068,000 after buying an additional 280 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Alleghany by 122.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 2,819 shares of the insurance provider’s stock worth $1,681,000 after buying an additional 1,553 shares during the last quarter. 83.54% of the stock is currently owned by institutional investors.
Y has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Alleghany from a “hold” rating to a “strong-buy” rating and set a $683.00 price objective for the company in a report on Sunday, January 21st. JMP Securities restated an “outperform” rating and set a $650.00 price objective (up previously from $625.00) on shares of Alleghany in a report on Thursday, February 22nd. Finally, TheStreet upgraded shares of Alleghany from a “c+” rating to a “b” rating in a report on Monday, February 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $666.50.
Alleghany (NYSE:Y) last posted its earnings results on Thursday, May 3rd. The insurance provider reported $11.24 earnings per share for the quarter, topping the consensus estimate of $8.37 by $2.87. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.45 billion. Alleghany had a net margin of 1.74% and a return on equity of 1.12%. The company’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the company earned $9.67 earnings per share. equities research analysts anticipate that Alleghany Co. will post 36.7 EPS for the current fiscal year.
In other news, Director William K. Lavin sold 530 shares of Alleghany stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $610.38, for a total value of $323,501.40. Following the completion of the transaction, the director now owns 2,735 shares in the company, valued at $1,669,389.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.00% of the stock is owned by company insiders.
Alleghany Corporation provides property and casualty reinsurance and insurance products in the United States and internationally. The company operates in two segments, Reinsurance and Insurance. The Reinsurance segment offers property reinsurance products, including fire, allied lines, auto physical damage, and homeowners multiple peril reinsurance products; and casualty and other reinsurance products, such as liability, medical malpractice, ocean marine and aviation, auto liability, accident and health, surety, and credit reinsurance products.
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