Shufro Rose & Co. LLC reduced its holdings in shares of Alleghany Co. (NYSE:Y) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,292 shares of the insurance provider’s stock after selling 288 shares during the quarter. Alleghany accounts for about 1.9% of Shufro Rose & Co. LLC’s investment portfolio, making the stock its 13th largest holding. Shufro Rose & Co. LLC owned about 0.20% of Alleghany worth $19,270,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in the company. Barrett Asset Management LLC lifted its stake in Alleghany by 50.0% during the first quarter. Barrett Asset Management LLC now owns 75 shares of the insurance provider’s stock worth $46,000 after purchasing an additional 25 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new position in Alleghany during the first quarter worth $59,000. Marshall Wace North America L.P. bought a new position in Alleghany during the first quarter worth $61,000. Quadrant Capital Group LLC lifted its stake in Alleghany by 730.8% during the first quarter. Quadrant Capital Group LLC now owns 108 shares of the insurance provider’s stock worth $64,000 after purchasing an additional 95 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in Alleghany during the first quarter worth $102,000. Institutional investors own 81.29% of the company’s stock.
Several brokerages recently issued reports on Y. ValuEngine upgraded Alleghany from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. Deutsche Bank started coverage on Alleghany in a research report on Thursday, May 23rd. They issued a “hold” rating and a $700.00 target price on the stock. Royal Bank of Canada reaffirmed an “average” rating on shares of Alleghany in a research report on Thursday, May 16th. JMP Securities increased their target price on Alleghany from $690.00 to $700.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 8th. Finally, Zacks Investment Research lowered Alleghany from a “buy” rating to a “hold” rating and set a $809.00 target price on the stock. in a research report on Sunday, July 14th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $736.33.
Alleghany (NYSE:Y) last issued its earnings results on Tuesday, May 7th. The insurance provider reported $9.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $9.51 by $0.15. Alleghany had a return on equity of 2.53% and a net margin of 4.04%. The firm had revenue of $2.32 billion for the quarter. During the same period in the prior year, the business earned $11.24 earnings per share. Alleghany’s quarterly revenue was up 46.4% on a year-over-year basis. On average, equities research analysts expect that Alleghany Co. will post 37.33 earnings per share for the current fiscal year.
In other news, Director William K. Lavin sold 286 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $665.24, for a total transaction of $190,258.64. Following the transaction, the director now directly owns 2,295 shares of the company’s stock, valued at $1,526,725.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Phillip M. Martineau sold 559 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $684.53, for a total value of $382,652.27. Following the transaction, the director now directly owns 3,214 shares in the company, valued at $2,200,079.42. The disclosure for this sale can be found here. 3.44% of the stock is owned by company insiders.
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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