Great Lakes Advisors LLC purchased a new position in shares of Alleghany Co. (NYSE:Y) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 272 shares of the insurance provider’s stock, valued at approximately $217,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Advisory Services Network LLC lifted its position in shares of Alleghany by 300.0% during the second quarter. Advisory Services Network LLC now owns 44 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 33 shares in the last quarter. SRS Capital Advisors Inc. acquired a new stake in Alleghany in the second quarter valued at approximately $39,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in Alleghany in the third quarter valued at approximately $40,000. Ossiam acquired a new stake in Alleghany in the second quarter valued at approximately $52,000. Finally, Marshall Wace North America L.P. acquired a new stake in Alleghany in the first quarter valued at approximately $61,000. 81.34% of the stock is currently owned by institutional investors and hedge funds.
Y has been the topic of several analyst reports. ValuEngine cut shares of Alleghany from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research cut shares of Alleghany from a “hold” rating to a “sell” rating and set a $824.00 target price on the stock. in a report on Saturday. Deutsche Bank raised shares of Alleghany from a “hold” rating to a “buy” rating and raised their target price for the company from $735.00 to $900.00 in a report on Wednesday, September 4th. JMP Securities raised their target price on shares of Alleghany from $775.00 to $875.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, Credit Suisse Group set a $61.00 target price on shares of Alleghany and gave the company a “hold” rating in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $665.00.
Alleghany (NYSE:Y) last issued its earnings results on Tuesday, November 5th. The insurance provider reported $7.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $6.08 by $1.53. The firm had revenue of $1.53 billion for the quarter. Alleghany had a net margin of 1.43% and a return on equity of 4.36%. During the same period last year, the business earned $7.61 EPS. On average, equities analysts anticipate that Alleghany Co. will post 39.93 EPS for the current year.
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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