Cove Street Capital LLC Decreases Holdings in Alleghany Co. (NYSE:Y)

Cove Street Capital LLC lessened its stake in shares of Alleghany Co. (NYSE:Y) by 6.0% in the first quarter, Holdings Channel reports. The fund owned 17,230 shares of the insurance provider’s stock after selling 1,094 shares during the quarter. Alleghany comprises about 1.3% of Cove Street Capital LLC’s holdings, making the stock its 29th biggest position. Cove Street Capital LLC’s holdings in Alleghany were worth $10,552,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Riverview Trust Co purchased a new stake in shares of Alleghany in the fourth quarter valued at $28,000. Pearl River Capital LLC purchased a new stake in shares of Alleghany in the fourth quarter valued at $30,000. Barrett Asset Management LLC lifted its holdings in shares of Alleghany by 50.0% in the first quarter. Barrett Asset Management LLC now owns 75 shares of the insurance provider’s stock valued at $46,000 after purchasing an additional 25 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in shares of Alleghany in the first quarter valued at $59,000. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Alleghany by 730.8% in the first quarter. Quadrant Capital Group LLC now owns 108 shares of the insurance provider’s stock valued at $64,000 after purchasing an additional 95 shares in the last quarter. Institutional investors own 82.00% of the company’s stock.

Several analysts recently issued reports on Y shares. Canaccord Genuity upgraded Alleghany to a “buy” rating in a report on Wednesday, February 13th. JMP Securities increased their price objective on Alleghany from $675.00 to $690.00 and gave the stock a “market outperform” rating in a report on Thursday, February 21st. ValuEngine lowered Alleghany from a “buy” rating to a “hold” rating in a report on Saturday, February 23rd. Zacks Investment Research lowered Alleghany from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Finally, Royal Bank of Canada reiterated an “average” rating on shares of Alleghany in a report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $711.33.

In other Alleghany news, Director Phillip M. Martineau sold 230 shares of the stock in a transaction on Friday, March 29th. The shares were sold at an average price of $613.47, for a total transaction of $141,098.10. Following the transaction, the director now directly owns 3,549 shares of the company’s stock, valued at $2,177,205.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Phillip M. Martineau sold 559 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $684.53, for a total value of $382,652.27. Following the completion of the sale, the director now directly owns 3,214 shares in the company, valued at $2,200,079.42. The disclosure for this sale can be found here. Insiders have sold 1,593 shares of company stock worth $1,032,869 over the last three months. Company insiders own 3.44% of the company’s stock.

Alleghany stock opened at $684.51 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.34 and a current ratio of 0.34. The firm has a market cap of $9.98 billion, a price-to-earnings ratio of 42.44 and a beta of 0.70. Alleghany Co. has a one year low of $570.41 and a one year high of $697.33.

Alleghany (NYSE:Y) last posted its earnings results on Tuesday, May 7th. The insurance provider reported $9.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $9.51 by $0.15. The firm 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 company’s quarterly revenue was up 46.4% compared to the same quarter last year. During the same period in the previous year, the company earned $11.24 earnings per share. On average, sell-side analysts predict that Alleghany Co. will post 37.38 EPS for the current fiscal year.

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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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