State Street Corp Decreases Position in Alleghany Co. (NYSE:Y)

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State Street Corp lessened its holdings in shares of Alleghany Co. (NYSE:Y) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 549,756 shares of the insurance provider’s stock after selling 11,184 shares during the period. State Street Corp owned approximately 3.82% of Alleghany worth $438,573,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Voya Financial Advisors Inc. acquired a new stake in Alleghany during the 3rd quarter worth about $209,000. Great Lakes Advisors LLC acquired a new stake in Alleghany during the 3rd quarter worth about $217,000. Systematic Financial Management LP grew its position in Alleghany by 33.4% during the 3rd quarter. Systematic Financial Management LP now owns 1,614 shares of the insurance provider’s stock worth $1,288,000 after purchasing an additional 404 shares during the period. AMG National Trust Bank grew its position in Alleghany by 4.6% during the 3rd quarter. AMG National Trust Bank now owns 1,263 shares of the insurance provider’s stock worth $1,008,000 after purchasing an additional 56 shares during the period. Finally, First Trust Advisors LP grew its position in Alleghany by 692.4% during the 3rd quarter. First Trust Advisors LP now owns 23,431 shares of the insurance provider’s stock worth $18,692,000 after purchasing an additional 20,474 shares during the period. Hedge funds and other institutional investors own 81.09% of the company’s stock.

Y opened at $780.04 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.32 and a quick ratio of 0.32. The company’s 50 day simple moving average is $774.34 and its two-hundred day simple moving average is $734.31. Alleghany Co. has a 1-year low of $577.59 and a 1-year high of $808.50. The firm has a market capitalization of $11.23 billion, a price-to-earnings ratio of 48.36 and a beta of 0.59.

Alleghany (NYSE:Y) last released its earnings results on Tuesday, November 5th. The insurance provider reported $7.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $6.08 by $1.53. Alleghany had a net margin of 1.43% and a return on equity of 4.36%. The business had revenue of $1.53 billion for the quarter. During the same period last year, the business earned $7.61 earnings per share. On average, equities analysts anticipate that Alleghany Co. will post 39.93 earnings per share for the current fiscal year.

A number of equities research analysts have recently commented on Y shares. Deutsche Bank upgraded 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 research report on Wednesday, September 4th. ValuEngine lowered shares of Alleghany from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Credit Suisse Group set a $61.00 price target on shares of Alleghany and gave the company a “hold” rating in a research note on Friday, August 30th. Zacks Investment Research lowered shares of Alleghany from a “hold” rating to a “sell” rating and set a $824.00 price target on the stock. in a research note on Saturday, November 16th. Finally, JMP Securities raised their price target on shares of Alleghany from $775.00 to $875.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $665.00.

Alleghany Profile

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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