Royce & Associates LP Reduces Position in Alleghany Corporation (Y)
Royce & Associates LP lowered its stake in Alleghany Corporation (NYSE:Y) by 2.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 157,266 shares of the insurance provider’s stock after selling 4,357 shares during the quarter. Alleghany accounts for 0.6% of Royce & Associates LP’s portfolio, making the stock its 25th largest position. Royce & Associates LP owned about 1.02% of Alleghany worth $87,127,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently modified their holdings of Y. Victory Capital Management Inc. boosted its stake in shares of Alleghany by 30.3% during the 2nd quarter. Victory Capital Management Inc. now owns 366,174 shares of the insurance provider’s stock worth $217,800,000 after acquiring an additional 85,145 shares during the last quarter. Davis Selected Advisers purchased a new position in shares of Alleghany during the 2nd quarter worth $46,379,000. Janus Henderson Group PLC boosted its stake in shares of Alleghany by 2,214.9% during the 2nd quarter. Janus Henderson Group PLC now owns 49,956 shares of the insurance provider’s stock worth $29,713,000 after acquiring an additional 47,798 shares during the last quarter. Findlay Park Partners LLP boosted its stake in shares of Alleghany by 24.1% during the 2nd quarter. Findlay Park Partners LLP now owns 202,142 shares of the insurance provider’s stock worth $120,234,000 after acquiring an additional 39,234 shares during the last quarter. Finally, Eaton Vance Management boosted its stake in shares of Alleghany by 32.8% during the 2nd quarter. Eaton Vance Management now owns 155,705 shares of the insurance provider’s stock worth $92,613,000 after acquiring an additional 38,419 shares during the last quarter. Institutional investors own 82.16% of the company’s stock.
Several research analysts have recently weighed in on Y shares. Zacks Investment Research upgraded shares of Alleghany from a “sell” rating to a “hold” rating in a research note on Monday, November 13th. JMP Securities upgraded shares of Alleghany from a “market perform” rating to an “outperform” rating and set a $625.00 price target on the stock in a research note on Monday, September 11th. Finally, BidaskClub cut shares of Alleghany from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th.
Shares of Alleghany Corporation (NYSE Y) traded down $6.64 during mid-day trading on Wednesday, hitting $578.36. 81,700 shares of the stock traded hands, compared to its average volume of 51,194. Alleghany Corporation has a 12-month low of $521.07 and a 12-month high of $667.19. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.27 and a current ratio of 0.27.
Alleghany (NYSE:Y) last announced its quarterly earnings data on Thursday, November 2nd. The insurance provider reported ($22.03) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($28.83) by $6.80. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.36 billion. Alleghany had a net margin of 0.10% and a negative return on equity of 0.14%. During the same period last year, the firm earned $10.09 EPS. equities analysts forecast that Alleghany Corporation will post -0.24 EPS for the current fiscal year.
Alleghany Company Profile
Alleghany Corporation is an insurance holding company. The Company, through its subsidiary Alleghany Insurance Holdings LLC (AIHL) and its subsidiaries, is engaged in the property and casualty insurance business. AIHL’s insurance operations are conducted by its subsidiaries RSUI Group, Inc (RSUI), CapSpecialty, Inc (CapSpecialty) and Pacific Compensation Corporation (PacificComp).
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