Caisse DE Depot ET Placement DU Quebec Raises Position in Alleghany Co. (Y)
Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Alleghany Co. (NYSE:Y) by 400.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,500 shares of the insurance provider’s stock after purchasing an additional 2,800 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Alleghany were worth $2,012,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Schroder Investment Management Group purchased a new stake in Alleghany in the 1st quarter worth approximately $191,000. IBM Retirement Fund purchased a new stake in Alleghany in the 1st quarter worth approximately $200,000. Hartford Investment Management Co. purchased a new stake in Alleghany in the 2nd quarter worth approximately $217,000. Gideon Capital Advisors Inc. purchased a new stake in Alleghany in the 2nd quarter worth approximately $221,000. Finally, IFM Investors Pty Ltd purchased a new stake in Alleghany in the 2nd quarter worth approximately $266,000. Hedge funds and other institutional investors own 82.25% of the company’s stock.
Y has been the subject of several recent analyst reports. ValuEngine raised shares of Alleghany from a “hold” rating to a “buy” rating in a research note on Thursday, July 26th. Zacks Investment Research cut shares of Alleghany from a “strong-buy” rating to a “hold” rating in a research note on Sunday, July 8th.
Alleghany (NYSE:Y) last announced its quarterly earnings data on Thursday, August 2nd. The insurance provider reported $9.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $8.41 by $1.37. Alleghany had a net margin of 4.48% and a return on equity of 3.51%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the company earned $6.37 EPS. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. sell-side analysts expect that Alleghany Co. will post 38 EPS for the current fiscal year.
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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