Sumitomo Mitsui Asset Management Company LTD lowered its position in shares of Alleghany Corporation (NYSE:Y) by 11.9% during the second quarter, Holdings Channel reports. The institutional investor owned 1,063 shares of the insurance provider’s stock after selling 144 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Alleghany Corporation were worth $632,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Alleghany Corporation by 5,310.0% in the first quarter. BlackRock Inc. now owns 1,424,386 shares of the insurance provider’s stock worth $875,513,000 after buying an additional 1,398,057 shares in the last quarter. Vanguard Group Inc. boosted its stake in Alleghany Corporation by 4.5% in the first quarter. Vanguard Group Inc. now owns 1,232,888 shares of the insurance provider’s stock worth $757,807,000 after buying an additional 53,639 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Alleghany Corporation during the first quarter worth $24,230,000. Morgan Stanley boosted its stake in Alleghany Corporation by 91.8% in the first quarter. Morgan Stanley now owns 80,197 shares of the insurance provider’s stock worth $49,293,000 after buying an additional 38,378 shares in the last quarter. Finally, Janus Capital Management LLC boosted its stake in Alleghany Corporation by 454.7% in the first quarter. Janus Capital Management LLC now owns 41,600 shares of the insurance provider’s stock worth $25,570,000 after buying an additional 34,100 shares in the last quarter. 81.36% of the stock is owned by hedge funds and other institutional investors.

Shares of Alleghany Corporation (NYSE Y) opened at 597.69 on Wednesday. Alleghany Corporation has a 1-year low of $510.52 and a 1-year high of $667.19. The stock has a 50 day moving average price of $601.20 and a 200 day moving average price of $608.97. The firm has a market capitalization of $9.22 billion, a PE ratio of 20.42 and a beta of 0.92.

Alleghany Corporation (NYSE:Y) last posted its quarterly earnings data on Thursday, August 3rd. The insurance provider reported $6.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $8.10 by $1.73. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.39 billion. Alleghany Corporation had a net margin of 7.74% and a return on equity of 5.70%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.99 earnings per share. Equities research analysts anticipate that Alleghany Corporation will post $29.27 earnings per share for the current fiscal year.

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Y has been the subject of a number of recent analyst reports. BidaskClub raised Alleghany Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Credit Suisse Group reissued a “hold” rating on shares of Alleghany Corporation in a research note on Tuesday, July 11th. Finally, Zacks Investment Research cut Alleghany Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th.

About Alleghany Corporation

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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Institutional Ownership by Quarter for Alleghany Corporation (NYSE:Y)

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