Wells Fargo & Company MN Sells 1,629 Shares of Alleghany Corp. (Y)
Wells Fargo & Company MN decreased its stake in Alleghany Corp. (NYSE:Y) by 6.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 22,020 shares of the company’s stock after selling 1,629 shares during the period. Wells Fargo & Company MN owned about 0.14% of Alleghany Corp. worth $11,561,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the company. Calvert Investment Management Inc. raised its stake in shares of Alleghany Corp. by 0.3% in the second quarter. Calvert Investment Management Inc. now owns 1,192 shares of the company’s stock worth $655,000 after buying an additional 4 shares during the period. Checchi Capital Advisers LLC raised its stake in shares of Alleghany Corp. by 1.0% in the second quarter. Checchi Capital Advisers LLC now owns 592 shares of the company’s stock worth $325,000 after buying an additional 6 shares during the period. Creative Planning raised its stake in shares of Alleghany Corp. by 0.8% in the second quarter. Creative Planning now owns 1,317 shares of the company’s stock worth $724,000 after buying an additional 10 shares during the period. Hancock Holding Co. raised its stake in shares of Alleghany Corp. by 0.6% in the second quarter. Hancock Holding Co. now owns 1,820 shares of the company’s stock worth $1,000,000 after buying an additional 10 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Alleghany Corp. by 1.0% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,105 shares of the company’s stock worth $607,000 after buying an additional 11 shares during the period. Hedge funds and other institutional investors own 81.22% of the company’s stock.
Alleghany Corp. (NYSE:Y) traded up 0.14% during midday trading on Wednesday, hitting $569.71. 28,481 shares of the company traded hands. Alleghany Corp. has a 12-month low of $446.50 and a 12-month high of $581.84. The stock’s 50-day moving average is $536.17 and its 200-day moving average is $533.95. The firm has a market capitalization of $8.78 billion, a PE ratio of 16.30 and a beta of 0.87.
Alleghany Corp. (NYSE:Y) last issued its earnings results on Tuesday, November 1st. The company reported $10.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $7.74 by $2.35. Alleghany Corp. had a net margin of 9.02% and a return on equity of 6.39%. The firm earned $1.61 million during the quarter, compared to the consensus estimate of $218.43 million. During the same quarter in the prior year, the firm earned $6.07 earnings per share. The business’s quarterly revenue was up 35.3% on a year-over-year basis. Analysts anticipate that Alleghany Corp. will post $27.50 EPS for the current fiscal year.
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Separately, Zacks Investment Research raised shares of Alleghany Corp. from a “hold” rating to a “strong-buy” rating and set a $648.00 target price for the company in a research note on Wednesday, November 16th.
About Alleghany Corp.
Alleghany Corporation is an insurance holding company. The Company owns and manages operating subsidiaries and investments, which are involved in the property and casualty reinsurance and insurance. The Company operates through two segments: reinsurance and insurance. The Company’s reinsurance segment consists of property and casualty reinsurance operations conducted by the Company’s subsidiary, Transatlantic Holdings, Inc (TransRe), and its reinsurance operating subsidiaries.
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