State Board of Administration of Florida Retirement System Has $9.76 Million Position in Alleghany Co. (Y)

State Board of Administration of Florida Retirement System increased its position in shares of Alleghany Co. (NYSE:Y) by 1.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,876 shares of the insurance provider’s stock after acquiring an additional 161 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.10% of Alleghany worth $9,755,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Arizona State Retirement System boosted its holdings in shares of Alleghany by 5.0% in the 4th quarter. Arizona State Retirement System now owns 19,152 shares of the insurance provider’s stock valued at $11,416,000 after purchasing an additional 905 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Alleghany by 2.4% in the 4th quarter. BlackRock Inc. now owns 1,457,806 shares of the insurance provider’s stock valued at $868,985,000 after purchasing an additional 34,808 shares during the last quarter. Xact Kapitalforvaltning AB boosted its holdings in shares of Alleghany by 10.7% in the 4th quarter. Xact Kapitalforvaltning AB now owns 1,395 shares of the insurance provider’s stock valued at $832,000 after purchasing an additional 135 shares during the last quarter. Flinton Capital Management LLC boosted its holdings in shares of Alleghany by 18.5% in the 4th quarter. Flinton Capital Management LLC now owns 1,792 shares of the insurance provider’s stock valued at $1,068,000 after purchasing an additional 280 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Alleghany by 122.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 2,819 shares of the insurance provider’s stock valued at $1,681,000 after purchasing an additional 1,553 shares during the last quarter. Hedge funds and other institutional investors own 83.54% of the company’s stock.

In related news, Director William K. Lavin sold 530 shares of Alleghany stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $610.38, for a total transaction of $323,501.40. Following the transaction, the director now owns 2,735 shares in the company, valued at approximately $1,669,389.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.00% of the company’s stock.

A number of brokerages have weighed in on Y. Zacks Investment Research lowered shares of Alleghany from a “strong-buy” rating to a “hold” rating in a report on Monday, April 30th. TheStreet upgraded shares of Alleghany from a “c+” rating to a “b” rating in a report on Monday, February 26th. Finally, JMP Securities restated an “outperform” rating and set a $650.00 target price (up previously from $625.00) on shares of Alleghany in a report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Alleghany currently has a consensus rating of “Hold” and an average target price of $666.50.

Alleghany opened at $578.03 on Monday, Marketbeat reports. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. The firm has a market cap of $8.84 billion, a P/E ratio of 283.35 and a beta of 0.90. Alleghany Co. has a twelve month low of $521.07 and a twelve month high of $639.42.

Alleghany (NYSE:Y) last posted its earnings results on Thursday, May 3rd. The insurance provider reported $11.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $8.37 by $2.87. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.45 billion. Alleghany had a net margin of 1.74% and a return on equity of 1.12%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $9.67 EPS. sell-side analysts forecast that Alleghany Co. will post 36.7 EPS for the current 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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Institutional Ownership by Quarter for Alleghany (NYSE:Y)

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