Jane Street Group LLC lessened its stake in shares of Alleghany Co. (NYSE:Y) by 34.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 585 shares of the insurance provider’s stock after selling 306 shares during the quarter. Jane Street Group LLC’s holdings in Alleghany were worth $349,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in Y. Zions Bancorporation raised its stake in Alleghany by 3,940.0% in the 3rd quarter. Zions Bancorporation now owns 202 shares of the insurance provider’s stock worth $112,000 after acquiring an additional 197 shares during the last quarter. Advisor Group Inc. raised its stake in shares of Alleghany by 64.5% during the 4th quarter. Advisor Group Inc. now owns 227 shares of the insurance provider’s stock valued at $136,000 after buying an additional 89 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Alleghany during the 4th quarter valued at about $179,000. Fiduciary Trust Co. purchased a new position in shares of Alleghany during the 4th quarter valued at about $201,000. Finally, Texas Yale Capital Corp. purchased a new position in shares of Alleghany during the 4th quarter valued at about $209,000. 83.06% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director William K. Lavin sold 530 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $610.38, for a total transaction of $323,501.40. Following the completion of the transaction, the director now directly owns 2,735 shares of the company’s stock, valued at $1,669,389.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.00% of the company’s stock.
Alleghany (NYSE:Y) last announced its earnings results on Wednesday, February 21st. The insurance provider reported $9.89 EPS for the quarter, beating analysts’ consensus estimates of $6.39 by $3.50. Alleghany had a net margin of 1.40% and a return on equity of 0.38%. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the prior year, the company earned $7.02 earnings per share. sell-side analysts anticipate that Alleghany Co. will post 32.3 EPS for the current fiscal year.
Several equities research analysts recently issued reports on the company. TheStreet upgraded Alleghany from a “c+” rating to a “b” rating in a report on Monday, February 26th. Zacks Investment Research upgraded Alleghany from a “hold” rating to a “strong-buy” rating and set a $683.00 target price on the stock in a report on Sunday, January 21st. Finally, JMP Securities restated an “outperform” rating and set a $650.00 target price (up from $625.00) on shares of Alleghany in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Alleghany presently has a consensus rating of “Buy” and a consensus price target of $666.50.
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Alleghany Company Profile
Alleghany Corporation provides property and casualty reinsurance and insurance products in the United States and internationally. The company operates in two segments, Reinsurance and Insurance. The Reinsurance segment offers property reinsurance products, including fire, allied lines, auto physical damage, and homeowners multiple peril reinsurance products; and casualty and other reinsurance products, such as liability, medical malpractice, ocean marine and aviation, auto liability, accident and health, surety, and credit reinsurance products.
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