Point72 Asset Management L.P. increased its stake in shares of Alleghany Co. (NYSE:Y) by 14.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 16,111 shares of the insurance provider’s stock after acquiring an additional 2,049 shares during the period. Point72 Asset Management L.P.’s holdings in Alleghany were worth $12,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. AQR Capital Management LLC boosted its position in shares of Alleghany by 12.1% during the fourth quarter. AQR Capital Management LLC now owns 101,896 shares of the insurance provider’s stock worth $81,473,000 after buying an additional 11,015 shares during the period. Anchor Capital Advisors LLC lifted its holdings in Alleghany by 100.4% in the fourth quarter. Anchor Capital Advisors LLC now owns 76,675 shares of the insurance provider’s stock worth $61,307,000 after purchasing an additional 38,417 shares during the period. Charles Schwab Investment Management Inc. grew its position in Alleghany by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 73,012 shares of the insurance provider’s stock valued at $58,379,000 after buying an additional 818 shares in the last quarter. Swiss National Bank grew its position in Alleghany by 12.4% in the 4th quarter. Swiss National Bank now owns 70,122 shares of the insurance provider’s stock valued at $56,067,000 after buying an additional 7,734 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in Alleghany by 0.9% during the 4th quarter. Prudential Financial Inc. now owns 63,925 shares of the insurance provider’s stock valued at $51,113,000 after buying an additional 585 shares during the period. 82.34% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director William K. Lavin sold 1,016 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $778.34, for a total value of $790,793.44. Following the sale, the director now directly owns 2,603 shares in the company, valued at approximately $2,026,019.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.20% of the stock is currently owned by insiders.

A number of analysts have commented on Y shares. Deutsche Bank boosted their price target on shares of Alleghany from $900.00 to $915.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. ValuEngine upgraded shares of Alleghany from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, JMP Securities raised their price objective on shares of Alleghany from $875.00 to $900.00 and gave the company a “market outperform” rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $675.00.

Shares of Y traded up $44.14 during midday trading on Thursday, reaching $559.97. The stock had a trading volume of 78,933 shares, compared to its average volume of 72,275. Alleghany Co. has a 52 week low of $426.87 and a 52 week high of $847.95. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.33 and a quick ratio of 0.33. The firm’s 50 day moving average price is $688.20 and its 200-day moving average price is $761.94. The company has a market capitalization of $6.98 billion, a P/E ratio of 9.47 and a beta of 0.69.

Alleghany (NYSE:Y) last announced its earnings results on Wednesday, February 19th. The insurance provider reported ($6.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $8.86 by ($14.95). The firm had revenue of $2.30 billion for the quarter. Alleghany had a net margin of 9.49% and a return on equity of 3.99%. The firm’s quarterly revenue was up 87.5% on a year-over-year basis. During the same period in the prior year, the company earned ($4.35) earnings per share. On average, equities analysts forecast that Alleghany Co. will post 40.7 earnings per share for the current year.

About Alleghany

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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Institutional Ownership by Quarter for Alleghany (NYSE:Y)

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