The stock of Alleghany Corporation (NYSE:Y) hit a new 52-week high and has $921.15 target or 63.00% above today’s $565.12 share price. The 6 months bullish chart indicates low risk for the $8.70B company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $921.15 price target is reached, the company will be worth $5.48 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 18,815 shares traded hands. Alleghany Corporation (NYSE:Y) has risen 10.42% since April 19, 2016 and is uptrending. It has outperformed by 6.56% the S&P500.
According to Zacks Investment Research, “ALLEGHANY CORP. is engaged, through its subsidiaries Chicago Title and Trust Company (CT&T), Chicago Title Insurance Company (CTI), Security Union Title Insurance Company (Security Union) and Ticor Title Insurance Company (Ticor Title) and their subsidiaries, in the sale and underwriting of title insurance and in other real estate-related services businesses, and through CT&T’s subsidiary, Alleghany Asset Management, Inc. (Alleghany Asset Management) and its subsidiaries, in certain other financial services businesses.”
Insitutional Activity: The institutional sentiment decreased to 0.94 in Q2 2016. Its down 0.14, from 1.08 in 2016Q1. The ratio is negative, as 21 funds sold all Alleghany Corporation shares owned while 108 reduced positions. 21 funds bought stakes while 118 increased positions. They now own 12.39 million shares or 36.94% less from 19.65 million shares in 2016Q1.
Nationwide Fund accumulated 0.09% or 39,334 shares. Millennium Management Limited Liability Com last reported 1,418 shares in the company. Aperio Ltd Llc, a California-based fund reported 5,329 shares. Systematic Financial Mgmt Ltd Partnership has 0.01% invested in the company for 895 shares. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Inv Mngmt owns 9,900 shares or 0.06% of their US portfolio. Regions Fincl Corp, a Alabama-based fund reported 647 shares. Becker Mgmt holds 77,998 shares or 1.75% of its portfolio. Guggenheim Ltd Liability Corp reported 35,524 shares or 0.06% of all its holdings. Profund Advisors Ltd Com holds 0.08% of its portfolio in Alleghany Corporation (NYSE:Y) for 3,101 shares. Fuller Thaler Asset Mgmt Inc accumulated 100 shares or 0% of the stock. Moreover, Meiji Yasuda Asset Management Co Ltd has 0.08% invested in Alleghany Corporation (NYSE:Y) for 1,060 shares. Da Davidson And accumulated 35 shares or 0% of the stock. Thompson Siegel And Walmsley Ltd Limited Liability Company, a Virginia-based fund reported 164,994 shares. Amg Natl Trust Financial Bank holds 0.06% of its portfolio in Alleghany Corporation (NYSE:Y) for 1,250 shares. Apg Asset Mgmt Nv accumulated 139,151 shares or 0.14% of the stock.
More notable recent Alleghany Corporation (NYSE:Y) news were published by: Prnewswire.com which released: “Alleghany Corporation Announces Preliminary Hurricane Matthew Loss Estimate” on November 17, 2016, also Reuters.com with their article: “BRIEF-Alleghany corporation announces preliminary hurricane Matthew loss e…” published on November 17, 2016, Prnewswire.com published: “Alleghany Corporation Reports 2016 Third Quarter Results — Notice” on October 05, 2016. More interesting news about Alleghany Corporation (NYSE:Y) were released by: Businesswire.com and their article: “Fitch Affirms Alleghany Corporation; Outlook Stable” published on November 15, 2016 as well as Zacks.com‘s news article titled: “Alleghany Corporation Unit Expands Mobile Medical Services” with publication date: November 17, 2016.
Y Company Profile
Alleghany Corporation, incorporated on November 16, 1984, is an insurance holding company. The Firm owns and manages operating subsidiaries and investments, which are involved in the property and casualty reinsurance and insurance. The Firm operates through two divisions: reinsurance and insurance. The Company’s reinsurance segment consists of property and casualty reinsurance activities conducted by the Company’s subsidiary, Transatlantic Holdings, Inc. (TransRe), and its reinsurance operating subsidiaries. The Company’s insurance segment consists of property and casualty insurance activities conducted by Alleghany Insurance Holdings LLC (AIHL) through its insurance operating subsidiaries, RSUI Group, Inc. (RSUI), CapSpecialty, Inc. (CapSpecialty) and Pacific Compensation Corporation (PacificComp). The Firm owns and manages properties in the Sacramento, California region through its subsidiary, Alleghany Properties Holdings LLC (Alleghany Properties).
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