Vanguard Group Inc. increased its position in shares of Alleghany Corp. (NYSE:Y) by 3.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,092,776 shares of the company’s stock after buying an additional 33,865 shares during the period. Vanguard Group Inc. owned approximately 7.08% of Alleghany Corp. worth $600,568,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Financial Architects Inc increased its stake in Alleghany Corp. by 24.7% in the second quarter. Financial Architects Inc now owns 202 shares of the company’s stock worth $111,000 after buying an additional 40 shares in the last quarter. Global X Management Co. LLC purchased a new stake in shares of Alleghany Corp. during the second quarter worth $128,000. Financial Counselors Inc. purchased a new stake in shares of Alleghany Corp. during the second quarter worth $205,000. Sii Investments Inc. WI purchased a new stake in shares of Alleghany Corp. during the second quarter worth $233,000. Finally, Timber Hill LLC purchased a new stake in shares of Alleghany Corp. during the second quarter worth $292,000. Institutional investors and hedge funds own 81.96% of the company’s stock.
Shares of Alleghany Corp. (NYSE:Y) opened at 525.02 on Friday. The stock’s 50 day moving average is $527.66 and its 200-day moving average is $524.93. Alleghany Corp. has a one year low of $446.50 and a one year high of $553.48. The company has a market cap of $8.11 billion, a P/E ratio of 17.00 and a beta of 0.84.
Alleghany Corp. (NYSE:Y) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $2.96 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $6.21 by $3.25. The firm earned $1.58 billion during the quarter, compared to the consensus estimate of $1.16 billion. Alleghany Corp. had a return on equity of 6.07% and a net margin of 8.64%. The business’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $11.40 EPS. Equities research analysts forecast that Alleghany Corp. will post $1.38 earnings per share for the current year.
A number of analysts have recently weighed in on Y shares. Zacks Investment Research raised shares of Alleghany Corp. from a “hold” rating to a “buy” rating and set a $581.00 price target for the company in a report on Wednesday, September 14th. Citigroup Inc. raised shares of Alleghany Corp. from a “neutral” rating to a “buy” rating and set a $43.00 price target for the company in a report on Thursday, June 16th.
Alleghany Corp. Company Profile
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.
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