Quantitative Systematic Strategies LLC purchased a new position in Alleghany Co. (NYSE:Y) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,436 shares of the insurance provider’s stock, valued at approximately $1,659,000.
Other institutional investors have also modified their holdings of the company. Cleararc Capital Inc. bought a new position in shares of Alleghany in the 1st quarter worth about $228,000. Pennsylvania Trust Co bought a new stake in Alleghany during the 1st quarter valued at about $8,561,000. Northern Trust Corp increased its stake in Alleghany by 0.5% during the 1st quarter. Northern Trust Corp now owns 148,022 shares of the insurance provider’s stock valued at $90,648,000 after purchasing an additional 671 shares in the last quarter. Toronto Dominion Bank increased its stake in Alleghany by 32.9% during the 1st quarter. Toronto Dominion Bank now owns 2,674 shares of the insurance provider’s stock valued at $1,637,000 after purchasing an additional 662 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Alleghany by 0.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 56,229 shares of the insurance provider’s stock valued at $34,435,000 after purchasing an additional 369 shares in the last quarter. Institutional investors own 81.33% of the company’s stock.
NYSE:Y traded up $7.45 on Tuesday, reaching $682.47. 1,430 shares of the stock traded hands, compared to its average volume of 65,090. The firm has a market capitalization of $9.99 billion, a P/E ratio of 42.10 and a beta of 0.66. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.20. Alleghany Co. has a 12 month low of $574.42 and a 12 month high of $714.60. The stock’s fifty day moving average is $693.72.
A number of analysts have weighed in on Y shares. Royal Bank of Canada restated an “average” rating on shares of Alleghany in a research note on Thursday, May 16th. ValuEngine upgraded shares of Alleghany from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. Zacks Investment Research lowered shares of Alleghany from a “buy” rating to a “hold” rating and set a $809.00 price objective for the company. in a research note on Sunday, July 14th. Deutsche Bank started coverage on shares of Alleghany in a research note on Thursday, May 23rd. They set a “hold” rating and a $700.00 price objective for the company. Finally, JMP Securities raised their price objective on shares of Alleghany from $690.00 to $700.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 8th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $736.33.
In other news, Director William K. Lavin sold 286 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $665.24, for a total transaction of $190,258.64. Following the sale, the director now owns 2,295 shares of the company’s stock, valued at approximately $1,526,725.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Phillip M. Martineau sold 559 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $684.53, for a total transaction of $382,652.27. Following the sale, the director now directly owns 3,214 shares in the company, valued at approximately $2,200,079.42. The disclosure for this sale can be found here. Company insiders own 3.44% of the company’s stock.
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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