Bank of America Corp DE Sells 4,224 Shares of Alleghany Co. (NYSE:Y)

Bank of America Corp DE reduced its holdings in shares of Alleghany Co. (NYSE:Y) by 6.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,230 shares of the insurance provider’s stock after selling 4,224 shares during the period. Bank of America Corp DE owned about 0.39% of Alleghany worth $36,296,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Mackay Shields LLC bought a new position in shares of Alleghany during the fourth quarter worth $6,022,000. MUFG Securities EMEA plc bought a new position in shares of Alleghany during the fourth quarter worth $3,553,000. GoodHaven Capital Management LLC boosted its position in shares of Alleghany by 3.0% during the fourth quarter. GoodHaven Capital Management LLC now owns 6,630 shares of the insurance provider’s stock worth $4,133,000 after acquiring an additional 195 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Alleghany by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 148,165 shares of the insurance provider’s stock worth $92,294,000 after acquiring an additional 7,997 shares during the last quarter. Finally, Neuburgh Advisers LLC boosted its position in shares of Alleghany by 16.2% during the fourth quarter. Neuburgh Advisers LLC now owns 2,924 shares of the insurance provider’s stock worth $1,823,000 after acquiring an additional 408 shares during the last quarter. 82.81% of the stock is owned by institutional investors and hedge funds.

In other Alleghany news, Director William K. Lavin sold 518 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $615.56, for a total transaction of $318,860.08. Following the transaction, the director now owns 2,675 shares of the company’s stock, valued at approximately $1,646,623. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Phillip M. Martineau sold 230 shares of the firm’s stock in a transaction dated Friday, March 29th. The shares were sold at an average price of $613.47, for a total transaction of $141,098.10. Following the transaction, the director now directly owns 3,549 shares in the company, valued at approximately $2,177,205.03. The disclosure for this sale can be found here. Company insiders own 3.44% of the company’s stock.

Y has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Alleghany from a “sell” rating to a “hold” rating in a research report on Saturday, January 12th. Canaccord Genuity upgraded shares of Alleghany to a “buy” rating in a research report on Wednesday, February 13th. JMP Securities increased their price objective on shares of Alleghany from $675.00 to $690.00 and gave the company a “market outperform” rating in a research report on Thursday, February 21st. Finally, ValuEngine lowered shares of Alleghany from a “buy” rating to a “hold” rating in a research report on Saturday, February 23rd.

Y stock traded up $9.38 during trading on Friday, hitting $646.92. The company had a trading volume of 148,364 shares, compared to its average volume of 83,217. The company has a market capitalization of $9.35 billion, a PE ratio of 40.11 and a beta of 0.75. Alleghany Co. has a 52-week low of $558.50 and a 52-week high of $666.00. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.33 and a quick ratio of 0.33.

Alleghany (NYSE:Y) last posted its quarterly earnings results 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 company had revenue of $1.23 billion for the quarter. Alleghany had a net margin of 0.57% and a return on equity of 2.94%. The firm’s revenue was down 26.6% on a year-over-year basis. Sell-side analysts forecast that Alleghany Co. will post 36 EPS for the current fiscal year.

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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 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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