Hermes Investment Management Ltd. Cuts Stake in Alleghany Corporation (NYSE:Y)

Hermes Investment Management Ltd. decreased its stake in Alleghany Corporation (NYSE:Y) by 6.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 62,196 shares of the insurance provider’s stock after selling 3,962 shares during the period. Hermes Investment Management Ltd. owned 0.40% of Alleghany Corporation worth $36,994,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of Y. Huntington National Bank boosted its position in shares of Alleghany Corporation by 1.0% in the first quarter. Huntington National Bank now owns 401 shares of the insurance provider’s stock valued at $246,000 after buying an additional 4 shares during the last quarter. Trust Co. of Vermont boosted its position in shares of Alleghany Corporation by 0.7% in the first quarter. Trust Co. of Vermont now owns 680 shares of the insurance provider’s stock worth $418,000 after buying an additional 5 shares in the last quarter. Financial Architects Inc boosted its position in shares of Alleghany Corporation by 2.9% in the second quarter. Financial Architects Inc now owns 175 shares of the insurance provider’s stock worth $104,000 after buying an additional 5 shares in the last quarter. IHT Wealth Management LLC boosted its position in shares of Alleghany Corporation by 9.3% in the first quarter. IHT Wealth Management LLC now owns 165 shares of the insurance provider’s stock worth $101,000 after buying an additional 14 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. boosted its position in shares of Alleghany Corporation by 3.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 411 shares of the insurance provider’s stock worth $236,000 after buying an additional 15 shares in the last quarter. 81.69% of the stock is currently owned by institutional investors and hedge funds.

Shares of Alleghany Corporation (Y) traded down 0.08% during midday trading on Friday, hitting $578.98. 65,350 shares of the company’s stock traded hands. The company has a 50 day moving average price of $602.47 and a 200 day moving average price of $607.81. The firm has a market capitalization of $8.93 billion, a price-to-earnings ratio of 18.76 and a beta of 0.92. Alleghany Corporation has a 1-year low of $510.52 and a 1-year high of $667.19.

Alleghany Corporation (NYSE:Y) last released its quarterly earnings results on Thursday, August 3rd. The insurance provider reported $6.37 EPS for the quarter, missing the Zacks’ consensus estimate of $8.10 by $1.73. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.39 billion. Alleghany Corporation had a net margin of 7.74% and a return on equity of 5.70%. Alleghany Corporation’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $4.99 earnings per share. Equities analysts anticipate that Alleghany Corporation will post $28.17 earnings per share for the current year.

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A number of brokerages have issued reports on Y. BidaskClub cut shares of Alleghany Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. Credit Suisse Group reissued a “hold” rating on shares of Alleghany Corporation in a report on Tuesday, July 11th. Finally, Zacks Investment Research lowered shares of Alleghany Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th.

About Alleghany Corporation

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).

Institutional Ownership by Quarter for Alleghany Corporation (NYSE:Y)

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