Victory Capital Management Inc. cut its stake in Alleghany Co. (NYSE:Y) by 2.9% in the 4th quarter, HoldingsChannel reports. The firm owned 498,180 shares of the insurance provider’s stock after selling 14,629 shares during the quarter. Alleghany makes up about 0.8% of Victory Capital Management Inc.’s portfolio, making the stock its largest position. Victory Capital Management Inc.’s holdings in Alleghany were worth $310,525,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Simplex Trading LLC bought a new stake in Alleghany during the third quarter worth about $190,000. Quantamental Technologies LLC purchased a new position in Alleghany during the 4th quarter valued at about $183,000. Gardner Russo & Gardner LLC purchased a new position in Alleghany during the 3rd quarter valued at about $211,000. Miracle Mile Advisors LLC purchased a new position in Alleghany during the 3rd quarter valued at about $222,000. Finally, Advisor Partners LLC purchased a new position in Alleghany during the 4th quarter valued at about $220,000. Institutional investors own 81.40% of the company’s stock.
Separately, Zacks Investment Research upgraded Alleghany from a “sell” rating to a “hold” rating in a report on Saturday, January 12th.
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Alleghany Company Profile
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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