Balyasny Asset Management LLC Buys 4,484 Shares of Alleghany Corporation (Y)
Balyasny Asset Management LLC raised its stake in shares of Alleghany Corporation (NYSE:Y) by 69.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,946 shares of the insurance provider’s stock after purchasing an additional 4,484 shares during the quarter. Balyasny Asset Management LLC owned 0.07% of Alleghany Corporation worth $6,511,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in Y. IHT Wealth Management LLC boosted its holdings in Alleghany Corporation by 9.3% during the first quarter. IHT Wealth Management LLC now owns 165 shares of the insurance provider’s stock valued at $101,000 after purchasing an additional 14 shares in the last quarter. Financial Architects Inc boosted its holdings in shares of Alleghany Corporation by 2.9% in the 2nd quarter. Financial Architects Inc now owns 175 shares of the insurance provider’s stock worth $104,000 after acquiring an additional 5 shares in the last quarter. Point72 Asia Hong Kong Ltd boosted its holdings in shares of Alleghany Corporation by 2,150.0% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 180 shares of the insurance provider’s stock worth $111,000 after acquiring an additional 172 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in shares of Alleghany Corporation by 117.0% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 217 shares of the insurance provider’s stock worth $133,000 after acquiring an additional 117 shares in the last quarter. Finally, Liberty Capital Management Inc. acquired a new position in shares of Alleghany Corporation in the 2nd quarter worth approximately $141,000. 81.76% of the stock is currently owned by institutional investors.
Several research analysts have recently commented on the company. BidaskClub downgraded Alleghany Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. Credit Suisse Group reissued a “hold” rating on shares of Alleghany Corporation in a report on Tuesday, July 11th. JMP Securities raised Alleghany Corporation from a “market perform” rating to an “outperform” rating and set a $625.00 target price on the stock in a report on Monday, September 11th. Finally, Zacks Investment Research downgraded Alleghany Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th.
Alleghany Corporation (Y) opened at 548.25 on Friday. The stock has a 50 day moving average price of $560.29 and a 200 day moving average price of $589.86. Alleghany Corporation has a one year low of $510.52 and a one year high of $667.19. The firm has a market capitalization of $8.45 billion, a P/E ratio of 17.76 and a beta of 0.94.
Alleghany Corporation (NYSE:Y) last announced its quarterly earnings data on Thursday, August 3rd. The insurance provider reported $6.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.10 by ($1.73). The firm 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 was down 1.8% compared to the same quarter last year. During the same period last year, the business earned $4.99 earnings per share. On average, equities analysts predict that Alleghany Corporation will post ($2.38) EPS for the current fiscal year.
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).
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