Paloma Partners Management Co acquired a new stake in Alleghany Corporation (NYSE:Y) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 3,776 shares of the insurance provider’s stock, valued at approximately $2,320,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in Y. Russell Investments Group Ltd. acquired a new position in Alleghany Corporation during the fourth quarter valued at about $5,324,000. Cadence Capital Management LLC boosted its position in Alleghany Corporation by 4.5% in the fourth quarter. Cadence Capital Management LLC now owns 419 shares of the insurance provider’s stock valued at $255,000 after buying an additional 18 shares during the last quarter. Aberdeen Asset Management PLC UK boosted its position in Alleghany Corporation by 6.8% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 1,561 shares of the insurance provider’s stock valued at $949,000 after buying an additional 100 shares during the last quarter. Bessemer Group Inc. purchased a new stake in Alleghany Corporation during the fourth quarter valued at $865,000. Finally, Commerzbank Aktiengesellschaft FI raised its stake in Alleghany Corporation by 15.2% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 743 shares of the insurance provider’s stock valued at $452,000 after buying an additional 98 shares during the period. Hedge funds and other institutional investors own 81.41% of the company’s stock.
Shares of Alleghany Corporation (NYSE:Y) opened at 606.99 on Wednesday. Alleghany Corporation has a 12-month low of $510.52 and a 12-month high of $667.19. The firm has a market cap of $9.36 billion, a price-to-earnings ratio of 20.74 and a beta of 0.92. The firm has a 50-day moving average price of $594.35 and a 200 day moving average price of $608.49.
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Several analysts have weighed in on Y shares. BidaskClub raised Alleghany Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Credit Suisse Group reissued a “hold” rating on shares of Alleghany Corporation in a report on Tuesday, July 11th.
In other news, Director William K. Lavin sold 321 shares of the business’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $582.50, for a total value of $186,982.50. Following the sale, the director now owns 2,499 shares of the company’s stock, valued at approximately $1,455,667.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.04% of the stock is currently owned by insiders.
Alleghany Corporation Company Profile
Alleghany Corporation is an insurance holding company. The Company, through its subsidiary Alleghany Insurance Holdings LLC (AIHL) and its subsidiaries, is engaged in the property and casualty insurance business. AIHL’s insurance operations are conducted by its subsidiaries RSUI Group, Inc (RSUI), CapSpecialty, Inc (CapSpecialty) and Pacific Compensation Corporation (PacificComp).
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