Westpac Banking Corp held its stake in shares of Alleghany Corporation (NYSE:Y) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 954 shares of the insurance provider’s stock at the close of the second quarter. Westpac Banking Corp’s holdings in Alleghany Corporation were worth $567,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Financial Architects Inc grew its position in Alleghany Corporation by 2.9% during the 2nd quarter. Financial Architects Inc now owns 175 shares of the insurance provider’s stock worth $104,000 after purchasing an additional 5 shares during the last quarter. Cadence Capital Management LLC grew its position in Alleghany Corporation by 1.0% during the 2nd quarter. Cadence Capital Management LLC now owns 491 shares of the insurance provider’s stock worth $292,000 after purchasing an additional 5 shares during the last quarter. IHT Wealth Management LLC grew its position in Alleghany Corporation by 9.3% during the 1st quarter. IHT Wealth Management LLC now owns 165 shares of the insurance provider’s stock worth $101,000 after purchasing an additional 14 shares during the last quarter. World Asset Management Inc grew its position in Alleghany Corporation by 1.9% during the 2nd quarter. World Asset Management Inc now owns 1,025 shares of the insurance provider’s stock worth $610,000 after purchasing an additional 19 shares during the last quarter. Finally, Creative Planning grew its position in Alleghany Corporation by 1.2% during the 2nd quarter. Creative Planning now owns 2,351 shares of the insurance provider’s stock worth $1,398,000 after purchasing an additional 28 shares during the last quarter. 81.82% of the stock is currently owned by institutional investors.

Shares of Alleghany Corporation (NYSE:Y) opened at 567.58 on Friday. The stock has a 50 day moving average of $580.23 and a 200 day moving average of $599.41. Alleghany Corporation has a 1-year low of $510.52 and a 1-year high of $667.19. The firm has a market cap of $8.75 billion, a PE ratio of 18.39 and a beta of 0.95.

Alleghany Corporation (NYSE:Y) last released its earnings results on Thursday, August 3rd. The insurance provider reported $6.37 earnings per share for the quarter, missing the consensus estimate of $8.10 by ($1.73). Alleghany Corporation had a net margin of 7.74% and a return on equity of 5.70%. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the previous year, the firm earned $4.99 EPS. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. Equities research analysts anticipate that Alleghany Corporation will post $12.60 earnings per share for the current fiscal year.

WARNING: This report was originally posted by Daily Political and is owned by of Daily Political. If you are reading this report on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright law. The original version of this report can be viewed at https://www.dailypolitical.com/2017/09/15/westpac-banking-corp-has-567000-holdings-in-alleghany-corporation-y.html.

Several research analysts have issued reports on the stock. JMP Securities raised shares of Alleghany Corporation from a “market perform” rating to an “outperform” rating and set a $625.00 price objective on the stock in a research report on Monday. BidaskClub downgraded shares of Alleghany Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Zacks Investment Research cut shares of Alleghany Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Credit Suisse Group restated a “hold” rating on shares of Alleghany Corporation in a research note on Tuesday, July 11th.

Alleghany Corporation Company Profile

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).

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

Receive News & Ratings for Alleghany Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alleghany Corporation and related companies with MarketBeat.com's FREE daily email newsletter.