First Citizens Bank & Trust Co. Reduces Stake in Alleghany Co. (Y)
First Citizens Bank & Trust Co. lessened its holdings in shares of Alleghany Co. (NYSE:Y) by 19.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 653 shares of the insurance provider’s stock after selling 158 shares during the period. First Citizens Bank & Trust Co.’s holdings in Alleghany were worth $389,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Alleghany by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 1,265,276 shares of the insurance provider’s stock worth $752,586,000 after purchasing an additional 32,388 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in Alleghany by 1.8% in the 3rd quarter. First Eagle Investment Management LLC now owns 666,629 shares of the insurance provider’s stock worth $369,319,000 after purchasing an additional 11,688 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Alleghany by 16.9% in the 3rd quarter. Victory Capital Management Inc. now owns 428,041 shares of the insurance provider’s stock worth $237,139,000 after purchasing an additional 61,867 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Alleghany by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 353,987 shares of the insurance provider’s stock worth $194,434,000 after purchasing an additional 8,513 shares in the last quarter. Finally, Findlay Park Partners LLP boosted its stake in Alleghany by 10.5% in the 3rd quarter. Findlay Park Partners LLP now owns 223,371 shares of the insurance provider’s stock worth $123,750,000 after purchasing an additional 21,229 shares in the last quarter. Hedge funds and other institutional investors own 82.22% of the company’s stock.
Alleghany Co. (NYSE:Y) opened at $584.92 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.27 and a quick ratio of 0.27. The stock has a market cap of $9,000.00, a PE ratio of 1,426.63 and a beta of 0.96. Alleghany Co. has a one year low of $521.07 and a one year high of $667.19.
Alleghany (NYSE:Y) last posted its earnings results on Thursday, November 2nd. The insurance provider reported ($22.03) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($28.83) by $6.80. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Alleghany had a net margin of 0.10% and a negative return on equity of 0.14%. During the same quarter in the prior year, the business earned $10.09 EPS. analysts expect that Alleghany Co. will post -0.24 earnings per share for the current year.
Separately, Zacks Investment Research cut shares of Alleghany from a “strong-buy” rating to a “hold” rating in a research note on Saturday, January 6th.
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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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