Mackenzie Financial Corp Sells 283 Shares of Alleghany Co. (NYSE:Y)

Mackenzie Financial Corp reduced its holdings in Alleghany Co. (NYSE:YGet Rating) by 26.6% in the second quarter, HoldingsChannel reports. The firm owned 779 shares of the insurance provider’s stock after selling 283 shares during the period. Mackenzie Financial Corp’s holdings in Alleghany were worth $649,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Kellner Capital LLC bought a new stake in shares of Alleghany during the second quarter valued at approximately $12,592,000. Principal Financial Group Inc. increased its holdings in shares of Alleghany by 13.7% during the second quarter. Principal Financial Group Inc. now owns 53,335 shares of the insurance provider’s stock valued at $44,433,000 after acquiring an additional 6,442 shares in the last quarter. Desjardins Global Asset Management Inc. bought a new stake in shares of Alleghany during the second quarter valued at approximately $859,000. Trek Financial LLC bought a new stake in shares of Alleghany during the second quarter valued at approximately $681,000. Finally, WINTON GROUP Ltd increased its holdings in shares of Alleghany by 181.3% during the second quarter. WINTON GROUP Ltd now owns 7,900 shares of the insurance provider’s stock valued at $6,581,000 after acquiring an additional 5,092 shares in the last quarter. 83.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Alleghany in a report on Tuesday. They set a “hold” rating for the company.

Alleghany Price Performance

Shares of NYSE:Y opened at $847.79 on Friday. The stock has a market cap of $11.41 billion, a price-to-earnings ratio of 32.99 and a beta of 0.53. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.30. Alleghany Co. has a 12-month low of $585.10 and a 12-month high of $862.87. The business’s 50 day moving average is $845.46 and its 200 day moving average is $839.24.

About Alleghany

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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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