Franklin Resources Inc. grew its holdings in Alleghany Co. (NYSE:Y) by 2.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 661,912 shares of the insurance provider’s stock after purchasing an additional 14,701 shares during the quarter. Franklin Resources Inc. owned 4.30% of Alleghany worth $394,559,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Zions Bancorporation lifted its stake in Alleghany by 3,940.0% in the third quarter. Zions Bancorporation now owns 202 shares of the insurance provider’s stock worth $112,000 after acquiring an additional 197 shares during the last quarter. Advisor Group Inc. lifted its stake in Alleghany by 64.5% in the fourth quarter. Advisor Group Inc. now owns 227 shares of the insurance provider’s stock worth $136,000 after acquiring an additional 89 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in Alleghany in the fourth quarter worth approximately $179,000. Fiduciary Trust Co. purchased a new position in Alleghany in the fourth quarter worth approximately $201,000. Finally, Texas Yale Capital Corp. purchased a new position in Alleghany in the fourth quarter worth approximately $209,000. 83.15% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on Y. TheStreet upgraded shares of Alleghany from a “c+” rating to a “b” rating in a research note on Monday, February 26th. JMP Securities reiterated an “outperform” rating and issued a $650.00 price target (up previously from $625.00) on shares of Alleghany in a research note on Thursday, February 22nd. Finally, Zacks Investment Research raised shares of Alleghany from a “hold” rating to a “strong-buy” rating and set a $683.00 price objective on the stock in a report on Sunday, January 21st. One analyst has rated the stock with a sell rating, one has given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Alleghany has an average rating of “Buy” and an average target price of $666.50.
Shares of Alleghany Co. (NYSE Y) opened at $628.20 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.17. Alleghany Co. has a 1-year low of $521.07 and a 1-year high of $640.31. The firm has a market cap of $9,668.63, a P/E ratio of 413.29 and a beta of 0.93.
Alleghany (NYSE:Y) last released its quarterly earnings data on Wednesday, February 21st. The insurance provider reported $9.89 earnings per share for the quarter, topping analysts’ consensus estimates of $6.39 by $3.50. Alleghany had a net margin of 1.40% and a return on equity of 0.38%. The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter last year, the company earned $7.02 earnings per share. sell-side analysts expect that Alleghany Co. will post 32.3 EPS for the current year.
The business also recently disclosed a special dividend, which was paid on Thursday, March 15th. Shareholders of record on Monday, March 5th were issued a dividend of $10.00 per share. The ex-dividend date was Friday, March 2nd.
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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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