Legal & General Group Plc Boosts Stake in Alleghany Corporation (Y)

Legal & General Group Plc boosted its holdings in shares of Alleghany Corporation (NYSE:Y) by 2.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,338 shares of the insurance provider’s stock after buying an additional 2,498 shares during the quarter. Legal & General Group Plc owned approximately 0.64% of Alleghany worth $54,468,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. YorkBridge Wealth Partners LLC grew its holdings in Alleghany by 1.5% in the second quarter. YorkBridge Wealth Partners LLC now owns 206 shares of the insurance provider’s stock worth $124,000 after purchasing an additional 3 shares during the last quarter. Cadence Capital Management LLC grew its holdings in Alleghany by 1.0% in the second quarter. Cadence Capital Management LLC now owns 491 shares of the insurance provider’s stock worth $292,000 after purchasing an additional 5 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its holdings in Alleghany by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 2,671 shares of the insurance provider’s stock worth $1,468,000 after purchasing an additional 10 shares during the last quarter. World Asset Management Inc grew its holdings in Alleghany by 1.9% in the second quarter. World Asset Management Inc now owns 1,025 shares of the insurance provider’s stock worth $610,000 after purchasing an additional 19 shares during the last quarter. Finally, Toronto Dominion Bank grew its holdings in Alleghany by 11.8% in the second quarter. Toronto Dominion Bank now owns 189 shares of the insurance provider’s stock worth $112,000 after purchasing an additional 20 shares during the last quarter. 82.26% of the stock is currently owned by institutional investors.

Alleghany Corporation (Y) traded down $8.76 during midday trading on Friday, reaching $562.64. 58,300 shares of the company’s stock traded hands, compared to its average volume of 53,088. Alleghany Corporation has a fifty-two week low of $521.07 and a fifty-two week high of $667.19. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.27 and a current ratio of 0.27.

Alleghany (NYSE:Y) last posted its quarterly earnings data on Thursday, November 2nd. The insurance provider reported ($22.03) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($28.83) by $6.80. Alleghany had a net margin of 0.10% and a negative return on equity of 0.14%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the firm posted $10.09 earnings per share. sell-side analysts anticipate that Alleghany Corporation will post -0.24 EPS for the current year.

Several equities analysts have issued reports on Y shares. Zacks Investment Research raised shares of Alleghany from a “hold” rating to a “strong-buy” rating and set a $639.00 price target on the stock in a report on Tuesday, November 28th. JMP Securities raised shares of Alleghany from a “market perform” rating to an “outperform” rating and set a $625.00 price target on the stock in a report on Monday, September 11th.

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About Alleghany

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).

Institutional Ownership by Quarter for Alleghany (NYSE:Y)

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