Swiss National Bank lessened its stake in Alleghany Co. (NYSE:Y) by 3.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,400 shares of the insurance provider’s stock after selling 2,500 shares during the period. Swiss National Bank owned 0.43% of Alleghany worth $41,820,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Advisory Services Network LLC boosted its position in shares of Alleghany by 300.0% during the 2nd quarter. Advisory Services Network LLC now owns 44 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 33 shares in the last quarter. Barrett Asset Management LLC boosted its position in shares of Alleghany by 50.0% during the 1st quarter. Barrett Asset Management LLC now owns 75 shares of the insurance provider’s stock valued at $46,000 after purchasing an additional 25 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new position in shares of Alleghany during the 1st quarter valued at about $59,000. Marshall Wace North America L.P. bought a new position in shares of Alleghany during the 1st quarter valued at about $61,000. Finally, Quadrant Capital Group LLC boosted its position in shares of Alleghany by 730.8% during the 1st quarter. Quadrant Capital Group LLC now owns 108 shares of the insurance provider’s stock valued at $64,000 after purchasing an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 80.04% of the company’s stock.
Y traded up $4.64 during midday trading on Wednesday, hitting $751.82. 762 shares of the company’s stock traded hands, compared to its average volume of 73,754. The company has a market cap of $10.83 billion, a PE ratio of 46.61 and a beta of 0.66. The stock’s fifty day simple moving average is $712.13 and its 200-day simple moving average is $665.69. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.33 and a quick ratio of 0.33. Alleghany Co. has a one year low of $574.42 and a one year high of $767.01.
Y has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Alleghany from a “buy” rating to a “hold” rating and set a $809.00 target price for the company. in a report on Sunday, July 14th. JMP Securities raised their target price on shares of Alleghany from $690.00 to $700.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 8th. Deutsche Bank initiated coverage on shares of Alleghany in a report on Thursday, May 23rd. They issued a “hold” rating and a $700.00 target price for the company. Finally, Royal Bank of Canada reiterated an “average” rating on shares of Alleghany in a report on Thursday, May 16th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $736.33.
Alleghany Corporation provides property and casualty reinsurance and insurance products in the United States and internationally. The company operates in three segments: Reinsurance, Insurance, and Alleghany Capital. The Reinsurance segment offers fire, allied lines, auto physical damage, and homeowners multiple peril reinsurance products; and casualty and other reinsurance products, such as medical malpractice, ocean marine and aviation, accident and health, mortgage, surety, and credit reinsurance products, as well as directors' and officers', errors and omissions, general, and auto liability reinsurance.
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