Nisa Investment Advisors LLC decreased its holdings in shares of Alleghany Co. (NYSE:Y) by 6.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,569 shares of the insurance provider’s stock after selling 302 shares during the period. Nisa Investment Advisors LLC’s holdings in Alleghany were worth $3,112,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Alleghany by 1.4% in the first quarter. BlackRock Inc. now owns 1,542,038 shares of the insurance provider’s stock valued at $944,345,000 after acquiring an additional 21,642 shares during the period. Thompson Siegel & Walmsley LLC raised its stake in shares of Alleghany by 7.4% in the first quarter. Thompson Siegel & Walmsley LLC now owns 181,023 shares of the insurance provider’s stock valued at $110,858,000 after purchasing an additional 12,504 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Alleghany by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 148,165 shares of the insurance provider’s stock valued at $92,294,000 after purchasing an additional 7,997 shares in the last quarter. Northern Trust Corp raised its stake in shares of Alleghany by 0.5% in the first quarter. Northern Trust Corp now owns 148,022 shares of the insurance provider’s stock valued at $90,648,000 after purchasing an additional 671 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Alleghany in the fourth quarter valued at $85,587,000. Hedge funds and other institutional investors own 80.04% of the company’s stock.
Several research analysts have issued reports on Y shares. Deutsche Bank started coverage on Alleghany in a research note on Thursday, May 23rd. They set a “hold” rating and a $700.00 price objective for the company. Royal Bank of Canada reiterated an “average” rating on shares of Alleghany in a research note on Thursday, May 16th. Zacks Investment Research lowered Alleghany from a “buy” rating to a “hold” rating and set a $809.00 price objective for the company. in a research note on Sunday, July 14th. Finally, JMP Securities raised their target price on Alleghany from $690.00 to $700.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 8th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $736.33.
Alleghany (NYSE:Y) last posted its quarterly earnings results on Tuesday, August 6th. The insurance provider reported $12.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.48 by $2.92. The business had revenue of $2.10 billion for the quarter. Alleghany had a return on equity of 2.88% and a net margin of 3.86%. During the same quarter in the prior year, the business earned $9.78 EPS. On average, analysts anticipate that Alleghany Co. will post 42.15 EPS for the current fiscal 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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