Commonwealth Bank of Australia lifted its stake in Alleghany Co. (NYSE:Y) by 18.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,999 shares of the insurance provider’s stock after purchasing an additional 309 shares during the quarter. Commonwealth Bank of Australia’s holdings in Alleghany were worth $1,242,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. bought a new position in shares of Alleghany during the 3rd quarter worth approximately $5,641,000. Private Advisor Group LLC increased its stake in Alleghany by 34.7% during the 3rd quarter. Private Advisor Group LLC now owns 1,487 shares of the insurance provider’s stock valued at $970,000 after purchasing an additional 383 shares in the last quarter. SG Americas Securities LLC increased its stake in Alleghany by 67.7% during the 3rd quarter. SG Americas Securities LLC now owns 11,333 shares of the insurance provider’s stock valued at $7,395,000 after purchasing an additional 4,574 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Alleghany by 1.9% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 47,233 shares of the insurance provider’s stock valued at $30,821,000 after purchasing an additional 878 shares in the last quarter. Finally, Toronto Dominion Bank increased its stake in Alleghany by 8.3% during the 3rd quarter. Toronto Dominion Bank now owns 1,662 shares of the insurance provider’s stock valued at $1,084,000 after purchasing an additional 128 shares in the last quarter. Institutional investors and hedge funds own 80.07% of the company’s stock.
A number of brokerages have issued reports on Y. Zacks Investment Research restated a “sell” rating on shares of Alleghany in a research note on Saturday, November 17th. JMP Securities upped their price target on shares of Alleghany from $675.00 to $690.00 and gave the company a “market outperform” rating in a research note on Thursday, February 21st. ValuEngine lowered shares of Alleghany from a “buy” rating to a “hold” rating in a research note on Saturday, February 23rd. Finally, Canaccord Genuity upgraded shares of Alleghany to a “buy” rating in a research note on Wednesday, February 13th.
Alleghany (NYSE:Y) last issued its quarterly earnings results on Wednesday, February 20th. The insurance provider reported ($4.35) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($5.31) by $0.96. Alleghany had a net margin of 0.57% and a return on equity of 2.94%. The business had revenue of $1.23 billion for the quarter. The business’s revenue for the quarter was down 26.6% on a year-over-year basis. Research analysts forecast that Alleghany Co. will post 36 EPS for the current year.
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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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