Wells Fargo & Company MN lowered its stake in Alleghany Corp. (NYSE:Y) by 6.9% during the third quarter, Holdings Channel reports. The institutional investor owned 22,020 shares of the company’s stock after selling 1,629 shares during the period. Wells Fargo & Company MN’s holdings in Alleghany Corp. were worth $11,561,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Royal Bank of Canada increased its stake in shares of Alleghany Corp. by 1.6% in the first quarter. Royal Bank of Canada now owns 49,220 shares of the company’s stock valued at $24,422,000 after buying an additional 771 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Alleghany Corp. by 37.1% in the second quarter. BNP Paribas Arbitrage SA now owns 8,819 shares of the company’s stock worth $4,847,000 after buying an additional 2,388 shares during the period. Creative Planning increased its position in Alleghany Corp. by 0.8% in the second quarter. Creative Planning now owns 1,317 shares of the company’s stock worth $724,000 after buying an additional 10 shares during the period. Contravisory Investment Management Inc. acquired a new position in Alleghany Corp. during the second quarter worth $7,839,000. Finally, Denali Advisors LLC increased its position in Alleghany Corp. by 533.3% in the second quarter. Denali Advisors LLC now owns 3,800 shares of the company’s stock worth $2,088,000 after buying an additional 3,200 shares during the period. 81.22% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Alleghany Corp. (NYSE:Y)

Alleghany Corp. (NYSE:Y) traded up 0.14% on Wednesday, reaching $569.71. 28,481 shares of the company were exchanged. Alleghany Corp. has a 12-month low of $446.50 and a 12-month high of $581.84. The stock has a market capitalization of $8.78 billion, a P/E ratio of 16.30 and a beta of 0.87. The company’s 50-day moving average price is $536.17 and its 200-day moving average price is $533.95.

Alleghany Corp. (NYSE:Y) last released its earnings results on Tuesday, November 1st. The company reported $10.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $7.74 by $2.35. Alleghany Corp. had a net margin of 9.02% and a return on equity of 6.39%. The company had revenue of $1.61 million for the quarter, compared to the consensus estimate of $218.43 million. During the same quarter in the previous year, the company earned $6.07 EPS. Alleghany Corp.’s quarterly revenue was up 35.3% compared to the same quarter last year. Equities research analysts anticipate that Alleghany Corp. will post $27.50 earnings per share for the current fiscal year.

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Separately, Zacks Investment Research downgraded shares of Alleghany Corp. from a “buy” rating to a “sell” rating in a research report on Wednesday, September 21st.

Alleghany Corp. Company Profile

Alleghany Corporation is an insurance holding company. The Company owns and manages operating subsidiaries and investments, which are involved in the property and casualty reinsurance and insurance. The Company operates through two segments: reinsurance and insurance. The Company’s reinsurance segment consists of property and casualty reinsurance operations conducted by the Company’s subsidiary, Transatlantic Holdings, Inc (TransRe), and its reinsurance operating subsidiaries.

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