Nomura Asset Management Co. Ltd. boosted its stake in Alleghany Co. (NYSE:Y) by 7.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,623 shares of the insurance provider’s stock after acquiring an additional 172 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Alleghany were worth $1,509,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of Y. Schroder Investment Management Group bought a new stake in Alleghany during the 1st quarter worth about $191,000. IBM Retirement Fund bought a new stake in Alleghany during the 1st quarter worth about $200,000. Hartford Investment Management Co. bought a new stake in Alleghany during the 2nd quarter worth about $217,000. IFM Investors Pty Ltd bought a new stake in Alleghany during the 2nd quarter worth about $266,000. Finally, Great Lakes Advisors LLC bought a new stake in Alleghany during the 1st quarter worth about $290,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.
Shares of Y stock opened at $641.46 on Tuesday. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $9.36 billion, a PE ratio of 314.44 and a beta of 0.92. Alleghany Co. has a 52-week low of $521.07 and a 52-week high of $646.55.
Alleghany (NYSE:Y) last issued its earnings results on Thursday, August 2nd. The insurance provider reported $9.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $8.41 by $1.37. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Alleghany had a net margin of 4.48% and a return on equity of 3.51%. Alleghany’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.37 EPS. equities analysts forecast that Alleghany Co. will post 38 earnings per share for the current year.
Y has been the topic of several analyst reports. Zacks Investment Research cut shares of Alleghany from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 30th. ValuEngine raised shares of Alleghany from a “hold” rating to a “buy” rating in a report on Thursday, July 26th.
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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