Granite Investment Advisors Lowers stake in Alleghany Corporation (Y)

Alleghany Corporation (Y) : Granite Investment Advisors reduced its stake in Alleghany Corporation by 1.8% during the most recent quarter end. The investment management company now holds a total of 22,236 shares of Alleghany Corporation which is valued at $11,591,182 after selling 408 shares in Alleghany Corporation , the firm said in a disclosure report filed with the SEC on Apr 26, 2016.Alleghany Corporation makes up approximately 2.32% of Granite Investment Advisors’s portfolio.

Alleghany Corporation opened for trading at $522 and hit $527.57 on the upside on Monday, eventually ending the session at $525.7, with a gain of 0.85% or 4.42 points. The heightened volatility saw the trading volume jump to 66,170 shares. Company has a market cap of $8,119 M.

Other Hedge Funds, Including , Rdl Financial Inc added Y to its portfolio by purchasing 3,563 company shares during the most recent quarter which is valued at $1,857,321. Alleghany Corporation makes up approx 1.39% of Rdl Financial Inc’s portfolio.Lucas Capital Management reduced its stake in Y by selling 160 shares or 13.85% in the most recent quarter. The Hedge Fund company now holds 995 shares of Y which is valued at $510,037. Alleghany Corporation makes up approx 0.35% of Lucas Capital Management’s portfolio.Fjarde Ap-fonden Fourth Swedish National Pension Fund boosted its stake in Y in the latest quarter, The investment management firm added 313 additional shares and now holds a total of 4,785 shares of Alleghany Corporation which is valued at $2,427,718. Alleghany Corporation makes up approx 0.06% of Fjarde Ap-fonden Fourth Swedish National Pension Fund’s portfolio.

On the company’s financial health, Alleghany Corporation reported $8.84 EPS for the quarter, beating the analyst consensus estimate by $ 2.15 according to the earnings call on Feb 23, 2016. Analyst had a consensus of $6.69.During the same quarter in the previous year, the company posted $8.61 EPS.

Alleghany Corporation owns and manages its subsidiaries and investments in the property and casualty reinsurance and insurance business. The Company operates through two segments: reinsurance and insurance. The Company’s reinsurance segment consists of the reinsurance operations of its subsidiary Transatlantic Holdings Inc. and its reinsurance operating subsidiaries. The Company through its wholly owned subsidiary Alleghany Insurance Holdings LLC (AIHL) and its subsidiaries provides property and casualty insurance services. AIHL’s insurance operations are principally conducted by its subsidiaries RSUI Group Inc. CapSpecialty Inc. and Pacific Compensation Corporation. AIHL Re LLC a wholly owned subsidiary of the Company provides captive reinsurance to its insurance operating subsidiaries and affiliates. The Company manages sources executes and monitors certain private capital investments primarily through its wholly owned subsidiary Alleghany Capital Corporation (ACC).

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