Principal Financial Group Inc. lowered its position in Alleghany Co. (NYSE:Y) by 0.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,053 shares of the insurance provider’s stock after selling 178 shares during the period. Principal Financial Group Inc.’s holdings in Alleghany were worth $21,548,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Marshall Wace North America L.P. bought a new stake in shares of Alleghany in the first quarter worth $61,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Alleghany during the first quarter valued at about $78,000. US Bancorp DE grew its holdings in Alleghany by 104.8% during the first quarter. US Bancorp DE now owns 170 shares of the insurance provider’s stock valued at $94,000 after purchasing an additional 87 shares during the period. CSat Investment Advisory L.P. grew its holdings in Alleghany by 768.9% during the second quarter. CSat Investment Advisory L.P. now owns 391 shares of the insurance provider’s stock valued at $191,000 after purchasing an additional 346 shares during the period. Finally, Verition Fund Management LLC bought a new stake in Alleghany during the second quarter valued at about $208,000. 86.70% of the stock is owned by institutional investors.
Shares of Alleghany stock opened at $499.82 on Wednesday. The stock’s 50-day simple moving average is $540.60 and its 200-day simple moving average is $528.72. Alleghany Co. has a 52 week low of $426.87 and a 52 week high of $847.95. The company has a market capitalization of $7.15 billion, a price-to-earnings ratio of -105.67 and a beta of 0.65. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.24.
Several analysts have issued reports on the company. Deutsche Bank boosted their price target on Alleghany from $760.00 to $785.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. ValuEngine upgraded Alleghany from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th.
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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