abrdn plc reduced its position in Alleghany Co. (NYSE:Y – Get Rating) by 42.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 1,463 shares of the insurance provider’s stock after selling 1,066 shares during the quarter. abrdn plc’s holdings in Alleghany were worth $1,241,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. National Bank of Canada FI purchased a new position in Alleghany during the fourth quarter valued at approximately $29,000. Allspring Global Investments Holdings LLC purchased a new position in Alleghany during the fourth quarter valued at approximately $5,139,000. Commonwealth Equity Services LLC grew its position in Alleghany by 15.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 1,285 shares of the insurance provider’s stock valued at $858,000 after purchasing an additional 169 shares in the last quarter. Yousif Capital Management LLC purchased a new position in Alleghany during the fourth quarter valued at approximately $4,960,000. Finally, Robeco Institutional Asset Management B.V. grew its position in Alleghany by 0.4% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 5,650 shares of the insurance provider’s stock valued at $3,772,000 after purchasing an additional 23 shares in the last quarter. 84.44% of the stock is owned by hedge funds and other institutional investors.
Alleghany Price Performance
NYSE Y opened at $837.00 on Tuesday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $11.26 billion, a PE ratio of 12.41 and a beta of 0.57. The company has a 50 day moving average price of $833.89 and a two-hundred day moving average price of $781.75. Alleghany Co. has a 12-month low of $585.10 and a 12-month high of $862.87.
Alleghany (NYSE:Y – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The insurance provider reported $18.85 earnings per share for the quarter. Alleghany had a net margin of 7.71% and a return on equity of 8.22%. The business had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same period in the previous year, the company earned $9.81 earnings per share.
Wall Street Analyst Weigh In
Y has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Alleghany from a “buy” rating to a “hold” rating in a research report on Wednesday, April 13th. JMP Securities cut shares of Alleghany from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 19th. Finally, Keefe, Bruyette & Woods cut shares of Alleghany from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 20th.
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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