BNP Paribas Arbitrage SA Increases Position in Alleghany Corporation (Y)
BNP Paribas Arbitrage SA increased its stake in shares of Alleghany Corporation (NYSE:Y) by 10.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,146 shares of the insurance provider’s stock after buying an additional 1,225 shares during the period. BNP Paribas Arbitrage SA owned 0.09% of Alleghany Corporation worth $7,819,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake 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. boosted its position in shares of Alleghany Corporation by 4.5% in the first quarter. Vanguard Group Inc. now owns 1,232,888 shares of the insurance provider’s stock worth $757,807,000 after buying an additional 53,639 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Alleghany Corporation during the first quarter worth approximately $24,230,000. Morgan Stanley boosted its position in shares of Alleghany Corporation by 91.8% in the first quarter. Morgan Stanley now owns 80,197 shares of the insurance provider’s stock worth $49,293,000 after buying an additional 38,378 shares in the last quarter. Finally, Janus Capital Management LLC boosted its position in shares of Alleghany Corporation by 454.7% in the first quarter. Janus Capital Management LLC now owns 41,600 shares of the insurance provider’s stock worth $25,570,000 after buying an additional 34,100 shares in the last quarter. Institutional investors and hedge funds own 81.69% of the company’s stock.
Alleghany Corporation (Y) opened at 578.73 on Wednesday. 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 $601.89 and its 200-day moving average is $607.44. The company has a market cap of $8.92 billion, a PE ratio of 18.75 and a beta of 0.92.
Alleghany Corporation (NYSE:Y) last posted its earnings results on Thursday, August 3rd. The insurance provider reported $6.37 earnings per share for the quarter, missing the consensus estimate of $8.10 by $1.73. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Alleghany Corporation had a return on equity of 5.70% and a net margin of 7.74%. Alleghany Corporation’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.99 EPS. On average, analysts expect that Alleghany Corporation will post $28.17 EPS for the current fiscal year.
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Y has been the subject of a number of analyst reports. BidaskClub upgraded shares of Alleghany Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Credit Suisse Group restated a “hold” rating on shares of Alleghany Corporation in a research note on Tuesday, July 11th. Finally, Zacks Investment Research cut shares of Alleghany Corporation from a “hold” rating to a “sell” rating in a research note 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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