Findlay Park Partners LLP Acquires 39,234 Shares of Alleghany Corporation (Y)
Findlay Park Partners LLP increased its holdings in Alleghany Corporation (NYSE:Y) by 24.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 202,142 shares of the insurance provider’s stock after purchasing an additional 39,234 shares during the period. Findlay Park Partners LLP owned approximately 1.31% of Alleghany Corporation worth $120,234,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of Y. Russell Investments Group Ltd. raised its position in Alleghany Corporation by 36.6% in the first quarter. Russell Investments Group Ltd. now owns 11,941 shares of the insurance provider’s stock worth $7,340,000 after purchasing an additional 3,198 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Alleghany Corporation by 40.0% in the first quarter. Canada Pension Plan Investment Board now owns 700 shares of the insurance provider’s stock worth $430,000 after purchasing an additional 200 shares in the last quarter. Capital Fund Management S.A. acquired a new position in Alleghany Corporation in the first quarter worth about $738,000. Suntrust Banks Inc. raised its position in Alleghany Corporation by 41.6% in the first quarter. Suntrust Banks Inc. now owns 1,475 shares of the insurance provider’s stock worth $905,000 after purchasing an additional 433 shares in the last quarter. Finally, Xact Kapitalforvaltning AB raised its position in Alleghany Corporation by 22.4% in the first quarter. Xact Kapitalforvaltning AB now owns 1,345 shares of the insurance provider’s stock worth $827,000 after purchasing an additional 246 shares in the last quarter. 81.82% of the stock is owned by hedge funds and other institutional investors.
Alleghany Corporation (NYSE:Y) traded down 0.7198% during mid-day trading on Thursday, hitting $565.5100. 10,975 shares of the stock traded hands. Alleghany Corporation has a 52 week low of $510.52 and a 52 week high of $667.19. The firm has a market cap of $8.72 billion, a P/E ratio of 18.3197 and a beta of 0.95. The firm’s 50-day moving average price is $583.23 and its 200-day moving average price is $599.86.
Alleghany Corporation (NYSE:Y) last posted its quarterly earnings data on Thursday, August 3rd. The insurance provider reported $6.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $8.10 by ($1.73). The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the firm earned $4.99 EPS. On average, equities analysts forecast that Alleghany Corporation will post $12.60 earnings per share for the current fiscal year.
Several research analysts recently issued reports on the stock. BidaskClub raised shares of Alleghany Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Credit Suisse Group reissued a “hold” rating on shares of Alleghany Corporation in a research report on Tuesday, July 11th. JMP Securities raised shares of Alleghany Corporation from a “market perform” rating to an “outperform” rating and set a $625.00 price objective for the company in a report on Monday. Finally, Zacks Investment Research lowered shares of Alleghany Corporation from a “hold” rating to a “sell” rating in a report 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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