PGGM Investments raised its stake in shares of Alleghany Corp. (NYSE:Y) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,851 shares of the company’s stock after buying an additional 181 shares during the period. PGGM Investments’ holdings in Alleghany Corp. were worth $7,063,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in Y. BlackRock Fund Advisors raised its position in Alleghany Corp. by 3.8% in the first quarter. BlackRock Fund Advisors now owns 617,378 shares of the company’s stock worth $306,343,000 after buying an additional 22,362 shares during the last quarter. State Street Corp raised its position in Alleghany Corp. by 1.9% in the first quarter. State Street Corp now owns 582,843 shares of the company’s stock worth $289,217,000 after buying an additional 10,670 shares during the last quarter. Wellington Management Group LLP raised its position in Alleghany Corp. by 1.9% in the first quarter. Wellington Management Group LLP now owns 561,109 shares of the company’s stock worth $278,422,000 after buying an additional 10,366 shares during the last quarter. Kiltearn Partners LLP raised its position in Alleghany Corp. by 3.3% in the first quarter. Kiltearn Partners LLP now owns 250,480 shares of the company’s stock worth $124,288,000 after buying an additional 7,900 shares during the last quarter. Finally, Findlay Park Partners LLP raised its position in Alleghany Corp. by 2.7% in the first quarter. Findlay Park Partners LLP now owns 249,737 shares of the company’s stock worth $123,919,000 after buying an additional 6,632 shares during the last quarter. Institutional investors and hedge funds own 81.96% of the company’s stock.
Shares of Alleghany Corp. (NYSE:Y) traded up 0.59% during mid-day trading on Friday, hitting $525.02. 97,979 shares of the stock were exchanged. The firm has a 50-day moving average price of $527.66 and a 200 day moving average price of $524.93. The company has a market capitalization of $8.11 billion, a PE ratio of 17.00 and a beta of 0.84. Alleghany Corp. has a 12-month low of $446.50 and a 12-month high of $553.48.
Alleghany Corp. (NYSE:Y) last announced its earnings results on Tuesday, August 2nd. The company reported $2.96 EPS for the quarter, missing the consensus estimate of $6.21 by $3.25. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.16 billion. Alleghany Corp. had a return on equity of 6.07% and a net margin of 8.64%. The business’s quarterly revenue was up 21.7% on a year-over-year basis. During the same quarter last year, the business posted $11.40 earnings per share. On average, equities research analysts expect that Alleghany Corp. will post $1.38 earnings per share for the current year.
A number of analysts have commented on Y shares. Citigroup Inc. upgraded shares of Alleghany Corp. from a “neutral” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Thursday, June 16th. Zacks Investment Research downgraded shares of Alleghany Corp. from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 14th.
Alleghany Corp. Company Profile
Alleghany Corporation is an insurance holding company. The Company owns and manages operating subsidiaries and investments, which are involved in the property and casualty reinsurance and insurance. The Company operates through two segments: reinsurance and insurance. The Company’s reinsurance segment consists of property and casualty reinsurance operations conducted by the Company’s subsidiary, Transatlantic Holdings, Inc (TransRe), and its reinsurance operating subsidiaries.
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