Comerica Bank Increases Stake in Alleghany Corporation (Y)
Comerica Bank increased its position in Alleghany Corporation (NYSE:Y) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,088 shares of the insurance provider’s stock after buying an additional 92 shares during the period. Comerica Bank owned approximately 0.08% of Alleghany Corporation worth $7,441,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its position in Alleghany Corporation by 5,310.0% in the first quarter. BlackRock Inc. now owns 1,424,386 shares of the insurance provider’s stock valued at $875,513,000 after buying an additional 1,398,057 shares during the last quarter. Vanguard Group Inc. increased its position in Alleghany Corporation by 4.5% in the first quarter. Vanguard Group Inc. now owns 1,232,888 shares of the insurance provider’s stock valued at $757,807,000 after buying an additional 53,639 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Alleghany Corporation during the first quarter valued at approximately $24,230,000. Morgan Stanley increased its position in Alleghany Corporation by 91.8% in the first quarter. Morgan Stanley now owns 80,197 shares of the insurance provider’s stock valued at $49,293,000 after buying an additional 38,378 shares during the last quarter. Finally, Janus Capital Management LLC increased its position in Alleghany Corporation by 454.7% in the first quarter. Janus Capital Management LLC now owns 41,600 shares of the insurance provider’s stock valued at $25,570,000 after buying an additional 34,100 shares during the last quarter. 81.69% of the stock is currently owned by institutional investors and hedge funds.
Alleghany Corporation (Y) opened at 578.98 on Monday. The firm has a market capitalization of $8.93 billion, a P/E ratio of 18.76 and a beta of 0.92. Alleghany Corporation has a 52-week low of $510.52 and a 52-week high of $667.19. The firm’s 50-day moving average is $602.47 and its 200 day moving average is $607.81.
Alleghany Corporation (NYSE:Y) last issued its quarterly earnings results on Thursday, August 3rd. The insurance provider reported $6.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.10 by $1.73. Alleghany Corporation had a net margin of 7.74% and a return on equity of 5.70%. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the previous year, the firm posted $4.99 earnings per share. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. Equities analysts anticipate that Alleghany Corporation will post $28.17 EPS for the current year.
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Several equities analysts have commented on Y shares. BidaskClub raised shares of Alleghany Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Credit Suisse Group reissued a “hold” rating on shares of Alleghany Corporation in a research report on Tuesday, July 11th. Finally, Zacks Investment Research downgraded shares of Alleghany Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th.
Alleghany Corporation Company Profile
Alleghany Corporation is an insurance holding company. The Company, through its subsidiary Alleghany Insurance Holdings LLC (AIHL) and its subsidiaries, is engaged in the property and casualty insurance business. AIHL’s insurance operations are conducted by its subsidiaries RSUI Group, Inc (RSUI), CapSpecialty, Inc (CapSpecialty) and Pacific Compensation Corporation (PacificComp).
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