Tue. Jul 23rd, 2019

Alleghany Co. (NYSE:Y) Position Decreased by Amalgamated Bank

3 min read

Amalgamated Bank reduced its position in Alleghany Co. (NYSE:Y) by 7.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,802 shares of the insurance provider’s stock after selling 228 shares during the quarter. Amalgamated Bank’s holdings in Alleghany were worth $1,828,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Simplex Trading LLC acquired a new position in Alleghany during the third quarter worth $190,000. Baird Financial Group Inc. increased its stake in shares of Alleghany by 6.8% in the second quarter. Baird Financial Group Inc. now owns 19,252 shares of the insurance provider’s stock valued at $11,076,000 after buying an additional 1,220 shares in the last quarter. Standard Life Aberdeen plc increased its position in Alleghany by 23.2% in the second quarter. Standard Life Aberdeen plc now owns 5,284 shares of the insurance provider’s stock worth $3,038,000 after purchasing an additional 995 shares during the period. Toronto Dominion Bank increased its position in Alleghany by 45.7% in the second quarter. Toronto Dominion Bank now owns 1,534 shares of the insurance provider’s stock worth $881,000 after purchasing an additional 481 shares during the period. Finally, Robeco Institutional Asset Management B.V. bought a new position in Alleghany during the third quarter worth about $5,641,000. 81.46% of the stock is owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research cut Alleghany from a “strong-buy” rating to a “hold” rating in a report on Monday, October 8th.

NYSE:Y opened at $615.50 on Friday. Alleghany Co. has a fifty-two week low of $558.50 and a fifty-two week high of $659.88. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.18. The stock has a market cap of $9.16 billion, a PE ratio of 301.72 and a beta of 0.98.

Alleghany (NYSE:Y) last released its quarterly earnings data on Thursday, November 1st. The insurance provider reported ($1.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.50 by ($4.57). The business had revenue of $1.35 billion for the quarter. Alleghany had a net margin of 12.34% and a return on equity of 5.42%. As a group, equities analysts expect that Alleghany Co. will post 27.95 EPS for the current fiscal year.

In other Alleghany news, Director William K. Lavin sold 528 shares of the business’s stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $622.84, for a total value of $328,859.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.00% of the company’s stock.

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Alleghany 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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