LS Investment Advisors LLC boosted its position in Alleghany Corp. (NYSE:Y) by 45.0% during the second quarter, Holdings Channel reports. The institutional investor owned 2,004 shares of the company’s stock after buying an additional 622 shares during the period. LS Investment Advisors LLC’s holdings in Alleghany Corp. were worth $1,101,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Fund Advisors raised its position in shares of Alleghany Corp. by 3.8% in the first quarter. BlackRock Fund Advisors now owns 617,378 shares of the company’s stock worth $306,343,000 after buying an additional 22,362 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Alleghany Corp. by 40.3% in the first quarter. Renaissance Technologies LLC now owns 54,688 shares of the company’s stock worth $27,136,000 after buying an additional 15,700 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in shares of Alleghany Corp. during the second quarter worth approximately $7,839,000. Jacobs Levy Equity Management Inc. raised its position in shares of Alleghany Corp. by 349.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 16,624 shares of the company’s stock worth $8,249,000 after buying an additional 12,929 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Alleghany Corp. by 2,161.4% in the first quarter. Bessemer Group Inc. now owns 13,003 shares of the company’s stock worth $6,452,000 after buying an additional 12,428 shares in the last quarter. 81.96% of the stock is owned by hedge funds and other institutional investors.
Alleghany Corp. (NYSE:Y) traded up 0.35% during mid-day trading on Monday, reaching $527.22. 36,460 shares of the company were exchanged. The company’s 50 day moving average price is $526.97 and its 200-day moving average price is $526.82. Alleghany Corp. has a 12-month low of $446.50 and a 12-month high of $553.48. The stock has a market capitalization of $8.14 billion, a price-to-earnings ratio of 17.07 and a beta of 0.88.
Alleghany Corp. (NYSE:Y) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $2.96 EPS for the quarter, missing analysts’ consensus estimates of $6.21 by $3.25. Alleghany Corp. had a net margin of 8.64% and a return on equity of 6.07%. The firm earned $1.58 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the business earned $11.40 EPS. The business’s revenue was up 21.7% on a year-over-year basis. On average, equities research analysts forecast that Alleghany Corp. will post $1.37 earnings per share for the current fiscal year.
Y has been the topic of a number of analyst reports. Citigroup Inc. raised shares of Alleghany Corp. from a “neutral” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Thursday, June 16th. Zacks Investment Research cut shares of Alleghany Corp. from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 14th.
About Alleghany Corp.
Alleghany Corporation is an insurance holding company. The Company owns and manages operating subsidiaries and investments, which are involved in the property and casualty reinsurance and insurance. The Company operates through two segments: reinsurance and insurance. The Company’s reinsurance segment consists of property and casualty reinsurance operations conducted by the Company’s subsidiary, Transatlantic Holdings, Inc (TransRe), and its reinsurance operating subsidiaries.
Want to see what other hedge funds are holding Y? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alleghany Corp. (NYSE:Y).
Receive News & Ratings for Alleghany Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alleghany Corp. and related companies with MarketBeat.com's FREE daily email newsletter.