Cleararc Capital Inc. Makes New Investment in Alleghany Co. (NYSE:Y)

Cleararc Capital Inc. purchased a new stake in Alleghany Co. (NYSE:Y) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 373 shares of the insurance provider’s stock, valued at approximately $228,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Janney Montgomery Scott LLC grew its position in Alleghany by 0.6% during the first quarter. Janney Montgomery Scott LLC now owns 3,135 shares of the insurance provider’s stock worth $1,920,000 after buying an additional 19 shares during the period. Mackenzie Financial Corp grew its position in Alleghany by 5.7% during the fourth quarter. Mackenzie Financial Corp now owns 465 shares of the insurance provider’s stock worth $290,000 after buying an additional 25 shares during the period. Sumitomo Mitsui Asset Management Company LTD grew its position in Alleghany by 2.8% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 909 shares of the insurance provider’s stock worth $556,000 after buying an additional 25 shares during the period. Barrett Asset Management LLC grew its position in Alleghany by 50.0% during the first quarter. Barrett Asset Management LLC now owns 75 shares of the insurance provider’s stock worth $46,000 after buying an additional 25 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its position in Alleghany by 3.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 903 shares of the insurance provider’s stock worth $615,000 after buying an additional 29 shares during the period. 81.94% of the stock is owned by hedge funds and other institutional investors.

Y has been the topic of several recent analyst reports. Deutsche Bank initiated coverage on shares of Markel in a research note on Thursday, May 23rd. They set a “hold” rating and a $1,000.00 price objective on the stock. ValuEngine raised shares of Alleghany from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. JMP Securities increased their price target on shares of Pegasystems from $72.00 to $81.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 8th. Royal Bank of Canada increased their price target on shares of Victory Capital to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, May 16th. Finally, Zacks Investment Research lowered shares of Guaranty Federal Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $711.33.

Y traded up $1.43 during trading hours on Friday, reaching $704.70. 69,686 shares of the stock traded hands, compared to its average volume of 94,831. Alleghany Co. has a fifty-two week low of $574.42 and a fifty-two week high of $714.60. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.20. The firm has a market cap of $10.16 billion, a P/E ratio of 43.69 and a beta of 0.68. The business’s fifty day moving average price is $686.95.

Alleghany (NYSE:Y) last posted its quarterly earnings data on Tuesday, May 7th. The insurance provider reported $9.66 EPS for the quarter, beating the Zacks’ consensus estimate of $9.51 by $0.15. Alleghany had a net margin of 4.04% and a return on equity of 2.53%. The firm had revenue of $2.32 billion for the quarter. During the same quarter last year, the company earned $11.24 earnings per share. The company’s revenue was up 46.4% compared to the same quarter last year. Analysts predict that Alleghany Co. will post 37.33 EPS for the current year.

In related news, Director Phillip M. Martineau sold 559 shares of Alleghany stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $684.53, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director William K. Lavin sold 286 shares of Alleghany 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 completion of the sale, the director now owns 2,295 shares in the company, valued at $1,526,725.80. The disclosure for this sale can be found here. Company insiders own 3.44% of the company’s stock.

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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