First Trust Advisors LP Sells 4,132 Shares of Alleghany Corp. (Y)
First Trust Advisors LP lowered its stake in Alleghany Corp. (NYSE:Y) by 13.1% during the third quarter, Holdings Channel reports. The fund owned 27,327 shares of the company’s stock after selling 4,132 shares during the period. First Trust Advisors LP’s holdings in Alleghany Corp. were worth $14,347,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of Y. Speece Thorson Capital Group Inc. boosted its stake in Alleghany Corp. by 1.4% in the second quarter. Speece Thorson Capital Group Inc. now owns 36,103 shares of the company’s stock worth $19,841,000 after buying an additional 484 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Alleghany Corp. by 26.8% in the second quarter. Victory Capital Management Inc. now owns 203,041 shares of the company’s stock valued at $111,587,000 after buying an additional 42,954 shares during the last quarter. Invictus RG bought a new position in shares of Alleghany Corp. during the second quarter valued at approximately $227,000. Capital One National Association raised its position in shares of Alleghany Corp. by 6.5% in the second quarter. Capital One National Association now owns 1,179 shares of the company’s stock valued at $648,000 after buying an additional 72 shares during the last quarter. Finally, Suntrust Banks Inc. raised its position in shares of Alleghany Corp. by 18.1% in the second quarter. Suntrust Banks Inc. now owns 3,302 shares of the company’s stock valued at $1,814,000 after buying an additional 505 shares during the last quarter. Institutional investors own 81.22% of the company’s stock.
Shares of Alleghany Corp. (NYSE:Y) traded up 0.455% during trading on Tuesday, hitting $573.015. 15,345 shares of the company traded hands. Alleghany Corp. has a 52-week low of $446.50 and a 52-week high of $581.84. The company has a 50-day moving average of $536.17 and a 200-day moving average of $533.95. The stock has a market capitalization of $8.84 billion, a PE ratio of 16.400 and a beta of 0.87.
Alleghany Corp. (NYSE:Y) last announced its quarterly earnings data on Tuesday, November 1st. The company reported $10.09 EPS for the quarter, topping the Zacks’ consensus estimate of $7.74 by $2.35. Alleghany Corp. had a return on equity of 6.36% and a net margin of 9.02%. The business earned $1.61 million during the quarter, compared to the consensus estimate of $218.43 million. During the same period in the previous year, the company posted $6.07 earnings per share. The business’s revenue for the quarter was up 35.3% on a year-over-year basis. Equities analysts expect that Alleghany Corp. will post $27.50 EPS for the current year.
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Separately, Zacks Investment Research lowered shares of Alleghany Corp. from a “buy” rating to a “sell” rating in a research report on Wednesday, September 21st.
About Alleghany Corp.
Alleghany Corporation is an insurance holding company. The Company owns and manages operating subsidiaries and investments, which are involved in the property and casualty reinsurance and insurance. The Company operates through two segments: reinsurance and insurance. The Company’s reinsurance segment consists of property and casualty reinsurance operations conducted by the Company’s subsidiary, Transatlantic Holdings, Inc (TransRe), and its reinsurance operating subsidiaries.
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