Public Employees Retirement System of Ohio increased its holdings in shares of Alleghany Co. (NYSE:Y) by 32.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,002 shares of the insurance provider’s stock after buying an additional 1,949 shares during the quarter. Public Employees Retirement System of Ohio owned 0.06% of Alleghany worth $6,384,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Qube Research & Technologies Ltd acquired a new stake in shares of Alleghany in the second quarter valued at approximately $386,000. Envestnet Asset Management Inc. boosted its holdings in Alleghany by 24.8% during the second quarter. Envestnet Asset Management Inc. now owns 5,535 shares of the insurance provider’s stock worth $3,770,000 after purchasing an additional 1,101 shares during the last quarter. CENTRAL TRUST Co grew its position in Alleghany by 13.9% in the third quarter. CENTRAL TRUST Co now owns 123 shares of the insurance provider’s stock valued at $98,000 after purchasing an additional 15 shares in the last quarter. Meeder Asset Management Inc. grew its position in Alleghany by 37.1% in the second quarter. Meeder Asset Management Inc. now owns 229 shares of the insurance provider’s stock valued at $156,000 after purchasing an additional 62 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in Alleghany by 46.7% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 24,432 shares of the insurance provider’s stock valued at $16,471,000 after buying an additional 7,782 shares during the last quarter. Hedge funds and other institutional investors own 81.09% of the company’s stock.
A number of equities analysts have recently commented on Y shares. JMP Securities increased their price objective on shares of Alleghany from $775.00 to $875.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Deutsche Bank raised Alleghany from a “hold” rating to a “buy” rating and lifted their target price for the company from $735.00 to $900.00 in a research report on Wednesday, September 4th. Credit Suisse Group set a $61.00 target price on Alleghany and gave the stock a “hold” rating in a report on Friday, August 30th. Zacks Investment Research cut Alleghany from a “hold” rating to a “sell” rating and set a $824.00 price target for the company. in a research report on Saturday, November 16th. Finally, ValuEngine downgraded Alleghany from a “hold” rating to a “sell” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Alleghany currently has an average rating of “Hold” and a consensus price target of $665.00.
Alleghany (NYSE:Y) last posted its quarterly earnings data on Tuesday, November 5th. The insurance provider reported $7.61 earnings per share for the quarter, topping the consensus estimate of $6.08 by $1.53. Alleghany had a return on equity of 4.36% and a net margin of 1.43%. The firm had revenue of $1.53 billion for the quarter. During the same quarter in the previous year, the business earned $7.61 EPS. As a group, research analysts expect 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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