Credit Suisse Group Reiterates Hold Rating for Alleghany Corporation (NYSE:Y)

Credit Suisse Group reiterated their hold rating on shares of Alleghany Corporation (NYSE:Y) in a research note issued to investors on Tuesday morning.

“We see figures as positive for the sector, Vivo, & TIM and negative for Claro & Oi.”,” the firm’s analyst commented.

Separately, BidaskClub raised Alleghany Corporation from a sell rating to a hold rating in a report on Friday, June 30th.

Alleghany Corporation (NYSE Y) opened at 599.73 on Tuesday. Alleghany Corporation has a 12-month low of $510.52 and a 12-month high of $667.19. The stock’s 50 day moving average is $586.06 and its 200 day moving average is $609.37. The stock has a market capitalization of $9.25 billion, a price-to-earnings ratio of 20.49 and a beta of 0.92.

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In related news, Director William K. Lavin sold 321 shares of the stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $582.50, for a total transaction of $186,982.50. Following the completion of the sale, the director now directly owns 2,499 shares of the company’s stock, valued at $1,455,667.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.04% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System boosted its position in Alleghany Corporation by 2.6% in the first quarter. Louisiana State Employees Retirement System now owns 3,900 shares of the insurance provider’s stock valued at $2,397,000 after buying an additional 100 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Alleghany Corporation by 1.7% in the first quarter. Ameriprise Financial Inc. now owns 64,170 shares of the insurance provider’s stock valued at $39,443,000 after buying an additional 1,047 shares during the last quarter. American International Group Inc. boosted its position in Alleghany Corporation by 3.7% in the first quarter. American International Group Inc. now owns 31,248 shares of the insurance provider’s stock valued at $19,207,000 after buying an additional 1,110 shares during the last quarter. Huntington National Bank boosted its position in 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. Finally, Toronto Dominion Bank boosted its position in Alleghany Corporation by 26.1% in the first quarter. Toronto Dominion Bank now owns 169 shares of the insurance provider’s stock valued at $104,000 after buying an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 81.41% of the company’s stock.

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).

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