State Board of Administration of Florida Retirement System Grows Stake in Alleghany Co. (Y)

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State Board of Administration of Florida Retirement System lifted its stake in shares of Alleghany Co. (NYSE:Y) by 0.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,190 shares of the insurance provider’s stock after purchasing an additional 18 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Alleghany were worth $9,915,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Riverview Trust Co purchased a new stake in Alleghany during the 4th quarter valued at about $28,000. Pearl River Capital LLC purchased a new stake in Alleghany during the 4th quarter valued at about $30,000. Quadrant Capital Group LLC grew its stake in Alleghany by 730.8% during the 1st quarter. Quadrant Capital Group LLC now owns 108 shares of the insurance provider’s stock valued at $64,000 after acquiring an additional 95 shares in the last quarter. Doyle Wealth Management purchased a new stake in Alleghany during the 4th quarter valued at about $100,000. Finally, Meeder Asset Management Inc. purchased a new stake in Alleghany during the 1st quarter valued at about $102,000. 82.31% of the stock is owned by institutional investors and hedge funds.

NYSE:Y opened at $679.94 on Friday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $9.82 billion, a price-to-earnings ratio of 48.50 and a beta of 0.77. Alleghany Co. has a 1-year low of $558.50 and a 1-year high of $689.29.

Alleghany (NYSE:Y) last posted its earnings results on Tuesday, May 7th. The insurance provider reported $9.66 earnings per share for the quarter, beating the consensus estimate of $9.51 by $0.15. The company had revenue of $2.32 billion for the quarter. Alleghany had a net margin of 4.04% and a return on equity of 2.53%. The business’s revenue for the quarter was up 46.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $11.24 earnings per share. Equities analysts expect that Alleghany Co. will post 38 EPS for the current fiscal year.

In other Alleghany news, Director William K. Lavin sold 518 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $615.56, for a total value of $318,860.08. Following the transaction, the director now directly owns 2,675 shares in the company, valued at approximately $1,646,623. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William K. Lavin sold 286 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $665.24, for a total transaction of $190,258.64. Following the completion of the transaction, the director now owns 2,295 shares in the company, valued at $1,526,725.80. The disclosure for this sale can be found here. Insiders sold a total of 1,034 shares of company stock worth $650,217 over the last quarter. 3.44% of the stock is currently owned by company insiders.

Y has been the subject of several research reports. Royal Bank of Canada reaffirmed an “average” rating on shares of Alleghany in a research note on Thursday. Canaccord Genuity raised shares of Alleghany to a “buy” rating in a research note on Wednesday, February 13th. Zacks Investment Research cut shares of Alleghany from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. ValuEngine raised shares of Alleghany from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. Finally, JMP Securities upped their price objective on shares of Alleghany from $675.00 to $690.00 and gave the company a “market outperform” rating in a research note on Thursday, February 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $717.00.

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About Alleghany

Alleghany Corporation provides property and casualty reinsurance and insurance products in the United States and internationally. The company operates in three segments: Reinsurance, Insurance, and Alleghany Capital. The Reinsurance segment offers fire, allied lines, auto physical damage, and homeowners multiple peril reinsurance products; and casualty and other reinsurance products, such as medical malpractice, ocean marine and aviation, accident and health, mortgage, surety, and credit reinsurance products, as well as directors' and officers', errors and omissions, general, and auto liability reinsurance.

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Institutional Ownership by Quarter for Alleghany (NYSE:Y)

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