Dupont Capital Management Corp trimmed its position in Alleghany Co. (NYSE:Y) by 37.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,240 shares of the insurance provider’s stock after selling 745 shares during the quarter. Dupont Capital Management Corp’s holdings in Alleghany were worth $607,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the business. Strs Ohio lifted its holdings in shares of Alleghany by 28.9% in the 2nd quarter. Strs Ohio now owns 4,737 shares of the insurance provider’s stock worth $2,317,000 after buying an additional 1,062 shares during the period. Mcrae Capital Management Inc. lifted its holdings in shares of Alleghany by 11.0% in the 2nd quarter. Mcrae Capital Management Inc. now owns 7,289 shares of the insurance provider’s stock worth $3,565,000 after buying an additional 725 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Alleghany by 1.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 2,821 shares of the insurance provider’s stock worth $1,380,000 after buying an additional 47 shares during the period. First Trust Advisors LP lifted its holdings in shares of Alleghany by 92.7% in the 2nd quarter. First Trust Advisors LP now owns 13,021 shares of the insurance provider’s stock worth $6,369,000 after buying an additional 6,264 shares during the period. Finally, Highland Capital Management LLC purchased a new stake in shares of Alleghany in the 2nd quarter worth $854,000. Institutional investors and hedge funds own 81.84% of the company’s stock.
Y has been the subject of a number of analyst reports. Deutsche Bank decreased their price objective on Alleghany from $800.00 to $700.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. ValuEngine upgraded Alleghany from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Finally, JMP Securities decreased their price objective on Alleghany from $900.00 to $850.00 and set a “market outperform” rating for the company in a research note on Thursday, April 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $608.75.
Alleghany (NYSE:Y) last announced its earnings results on Tuesday, May 5th. The insurance provider reported $4.99 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 business had revenue of $2.02 billion for the quarter. As a group, equities research analysts anticipate that Alleghany Co. will post 5.8 earnings per share 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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