Janney Montgomery Scott LLC Raises Position in Alleghany Corporation (Y)
Janney Montgomery Scott LLC boosted its stake in shares of Alleghany Corporation (NYSE:Y) by 6.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,489 shares of the insurance provider’s stock after buying an additional 94 shares during the period. Janney Montgomery Scott LLC’s holdings in Alleghany Corporation were worth $886,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Huntington National Bank raised its position in Alleghany Corporation by 1.0% in the first quarter. Huntington National Bank now owns 401 shares of the insurance provider’s stock worth $246,000 after buying an additional 4 shares during the last quarter. Trust Co. of Vermont raised its position in Alleghany Corporation by 0.7% in the first quarter. Trust Co. of Vermont now owns 680 shares of the insurance provider’s stock worth $418,000 after buying an additional 5 shares during the last quarter. Financial Architects Inc raised its position in Alleghany Corporation by 2.9% in the second quarter. Financial Architects Inc now owns 175 shares of the insurance provider’s stock worth $104,000 after buying an additional 5 shares during the last quarter. IHT Wealth Management LLC raised its position in Alleghany Corporation by 9.3% in the first quarter. IHT Wealth Management LLC now owns 165 shares of the insurance provider’s stock worth $101,000 after buying an additional 14 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its position in Alleghany Corporation by 3.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 411 shares of the insurance provider’s stock worth $236,000 after buying an additional 15 shares during the last quarter. 81.69% of the stock is owned by institutional investors and hedge funds.
Alleghany Corporation (NYSE Y) opened at 592.44 on Tuesday. The company has a market capitalization of $9.13 billion, a price-to-earnings ratio of 19.19 and a beta of 0.92. The stock has a 50 day moving average price of $603.30 and a 200-day moving average price of $608.54. Alleghany Corporation has a 12-month low of $510.52 and a 12-month high of $667.19.
Alleghany Corporation (NYSE:Y) last issued its quarterly earnings data on Thursday, August 3rd. The insurance provider reported $6.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the previous year, the firm earned $4.99 EPS. The company’s revenue was down 1.8% on a year-over-year basis. Equities analysts predict that Alleghany Corporation will post $28.17 EPS for the current fiscal year.
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A number of equities analysts have recently commented on Y shares. BidaskClub raised Alleghany Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Credit Suisse Group reaffirmed a “hold” rating on shares of Alleghany Corporation in a report on Tuesday, July 11th. Finally, Zacks Investment Research lowered Alleghany Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th.
About Alleghany Corporation
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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