Gulf International Bank UK Ltd Trims Position in Alleghany Co. (Y)

Gulf International Bank UK Ltd cut its stake in Alleghany Co. (NYSE:Y) by 1.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,838 shares of the insurance provider’s stock after selling 90 shares during the period. Gulf International Bank UK Ltd’s holdings in Alleghany were worth $2,972,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. State Treasurer State of Michigan lifted its position in Alleghany by 1.8% in the first quarter. State Treasurer State of Michigan now owns 5,600 shares of the insurance provider’s stock valued at $3,441,000 after acquiring an additional 100 shares during the last quarter. Stevens Capital Management LP purchased a new stake in shares of Alleghany in the first quarter valued at about $627,000. Thrivent Financial for Lutherans raised its holdings in shares of Alleghany by 4.4% in the first quarter. Thrivent Financial for Lutherans now owns 3,613 shares of the insurance provider’s stock valued at $2,220,000 after buying an additional 152 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Alleghany by 5.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 59,234 shares of the insurance provider’s stock valued at $36,396,000 after buying an additional 3,309 shares during the last quarter. Finally, Great Lakes Advisors LLC purchased a new stake in shares of Alleghany in the first quarter valued at about $290,000. 81.89% of the stock is owned by hedge funds and other institutional investors.

Shares of Alleghany stock opened at $582.44 on Wednesday. Alleghany Co. has a 52-week low of $521.07 and a 52-week high of $639.42. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. The stock has a market cap of $8.84 billion, a PE ratio of 285.51 and a beta of 0.90.

Alleghany (NYSE:Y) last issued its quarterly earnings results on Thursday, May 3rd. The insurance provider reported $11.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.37 by $2.87. Alleghany had a net margin of 1.74% and a return on equity of 1.12%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the business posted $9.67 earnings per share. The business’s revenue was up 3.4% compared to the same quarter last year. equities analysts anticipate that Alleghany Co. will post 36.7 earnings per share for the current fiscal year.

In other news, Director William K. Lavin sold 530 shares of the business’s 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 transaction, the director now directly owns 2,735 shares in the company, valued at $1,669,389.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William K. Lavin sold 293 shares of the company’s stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $580.61, for a total transaction of $170,118.73. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.

Y has been the subject of a number of research reports. JMP Securities reaffirmed an “outperform” rating and issued a $650.00 target price (up from $625.00) on shares of Alleghany in a report on Thursday, February 22nd. TheStreet raised shares of Alleghany from a “c+” rating to a “b” rating in a report on Monday, February 26th. Finally, Zacks Investment Research cut shares of Alleghany from a “strong-buy” rating to a “hold” rating in a report on Monday, April 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $666.50.

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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Institutional Ownership by Quarter for Alleghany (NYSE:Y)

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