BNP Paribas Arbitrage SA Sells 10,942 Shares of Alleghany Co. (NYSE:Y)

BNP Paribas Arbitrage SA trimmed its holdings in Alleghany Co. (NYSE:Y) by 62.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,619 shares of the insurance provider’s stock after selling 10,942 shares during the period. BNP Paribas Arbitrage SA’s holdings in Alleghany were worth $4,415,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Citigroup Inc. lifted its stake in shares of Alleghany by 19.6% in the second quarter. Citigroup Inc. now owns 14,389 shares of the insurance provider’s stock worth $9,599,000 after buying an additional 2,362 shares during the last quarter. Rafferty Asset Management LLC lifted its stake in shares of Alleghany by 11.5% in the second quarter. Rafferty Asset Management LLC now owns 7,711 shares of the insurance provider’s stock worth $5,144,000 after buying an additional 796 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Alleghany in the second quarter worth $724,000. Nuance Investments LLC lifted its stake in shares of Alleghany by 13,008.3% in the second quarter. Nuance Investments LLC now owns 116,533 shares of the insurance provider’s stock worth $77,736,000 after buying an additional 115,644 shares during the last quarter. Finally, Alaska Permanent Fund Corp acquired a new stake in shares of Alleghany in the second quarter worth $2,401,000. 82.28% of the stock is owned by institutional investors.

Shares of Alleghany stock opened at $629.86 on Friday. The firm has a market capitalization of $8.74 billion, a PE ratio of 9.61 and a beta of 0.65. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.27 and a quick ratio of 0.27. The company’s fifty day moving average price is $661.63 and its two-hundred day moving average price is $671.45. Alleghany Co. has a 52-week low of $486.49 and a 52-week high of $737.89.

Alleghany (NYSE:Y) last announced its quarterly earnings results on Thursday, August 5th. The insurance provider reported $17.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $15.89 by $1.50. The firm had revenue of $2.71 billion for the quarter. Alleghany had a net margin of 8.54% and a return on equity of 5.93%.

Several equities analysts recently commented on Y shares. JMP Securities upped their target price on shares of Alleghany from $775.00 to $800.00 and gave the company a “market outperform” rating in a research note on Friday, August 6th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Alleghany from $890.00 to $915.00 and gave the company a “buy” rating in a research note on Friday, August 6th.

Alleghany Profile

Alleghany Corp. engages in the provision of property, casualty reinsurance, insurance and financial services. It operates its through the Reinsurance and Insurance segments. The Reinsurance segment consists of property and casualty and other reinsurance operations. The Insurance segment consists of property and casualty insurance operations.

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Institutional Ownership by Quarter for Alleghany (NYSE:Y)

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