Velanne Asset Management Ltd Boosts Position in Alleghany Co. (Y)

Velanne Asset Management Ltd boosted its holdings in shares of Alleghany Co. (NYSE:Y) by 4.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,661 shares of the insurance provider’s stock after buying an additional 654 shares during the period. Alleghany makes up about 7.1% of Velanne Asset Management Ltd’s holdings, making the stock its 2nd largest holding. Velanne Asset Management Ltd owned 0.12% of Alleghany worth $10,203,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of Y. Federated Investors Inc. PA lifted its stake in Alleghany by 1,068.8% during the third quarter. Federated Investors Inc. PA now owns 69,298 shares of the insurance provider’s stock worth $45,219,000 after purchasing an additional 63,369 shares during the last quarter. Pensionfund Sabic bought a new stake in Alleghany during the fourth quarter worth about $1,558,000. Xact Kapitalforvaltning AB lifted its stake in Alleghany by 27.0% during the fourth quarter. Xact Kapitalforvaltning AB now owns 1,881 shares of the insurance provider’s stock worth $1,172,000 after purchasing an additional 400 shares during the last quarter. Mraz Amerine & Associates Inc. lifted its stake in Alleghany by 0.6% during the fourth quarter. Mraz Amerine & Associates Inc. now owns 38,381 shares of the insurance provider’s stock worth $23,924,000 after purchasing an additional 229 shares during the last quarter. Finally, Riverview Trust Co bought a new stake in Alleghany during the fourth quarter worth about $28,000. 82.81% of the stock is owned by institutional investors.

In related news, Director Phillip M. Martineau sold 230 shares of the business’s stock in a transaction dated Friday, March 29th. The stock was sold at an average price of $613.47, for a total transaction of $141,098.10. Following the transaction, the director now owns 3,549 shares in the company, valued at approximately $2,177,205.03. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William K. Lavin sold 518 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $615.56, for a total value of $318,860.08. Following the transaction, the director now owns 2,675 shares in the company, valued at approximately $1,646,623. The disclosure for this sale can be found here. 3.44% of the stock is currently owned by insiders.

Several research analysts have recently commented on the company. Zacks Investment Research upgraded Alleghany from a “sell” rating to a “hold” rating in a report on Saturday, January 12th. Canaccord Genuity upgraded Alleghany to a “buy” rating in a report on Wednesday, February 13th. JMP Securities lifted their price objective on Alleghany from $675.00 to $690.00 and gave the stock a “market outperform” rating in a report on Thursday, February 21st. Finally, ValuEngine downgraded Alleghany from a “buy” rating to a “hold” rating in a report on Saturday, February 23rd.

Shares of Y traded down $4.53 during trading hours on Wednesday, hitting $635.26. The company had a trading volume of 794 shares, compared to its average volume of 80,717. The company has a market cap of $9.25 billion, a P/E ratio of 39.32 and a beta of 0.75. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.22. Alleghany Co. has a 52-week low of $558.50 and a 52-week high of $666.00.

Alleghany (NYSE:Y) last released its quarterly earnings data on Wednesday, February 20th. The insurance provider reported ($4.35) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($5.31) by $0.96. The firm had revenue of $1.23 billion for the quarter. Alleghany had a return on equity of 2.94% and a net margin of 0.57%. The company’s quarterly revenue was down 26.6% compared to the same quarter last year. Equities research analysts forecast that Alleghany Co. will post 36 earnings per share for the current fiscal year.

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Alleghany Profile

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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Institutional Ownership by Quarter for Alleghany (NYSE:Y)

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