Quantitative Investment Management LLC Takes Position in The Allstate Corporation $ALL

Quantitative Investment Management LLC purchased a new position in shares of The Allstate Corporation (NYSE:ALL) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 10,753 shares of the insurance provider’s stock, valued at approximately $2,308,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Guerra Pan Advisors LLC raised its position in Allstate by 1.5% during the second quarter. Guerra Pan Advisors LLC now owns 3,426 shares of the insurance provider’s stock valued at $690,000 after purchasing an additional 49 shares in the last quarter. Focus Financial Network Inc. boosted its holdings in shares of Allstate by 1.1% in the 3rd quarter. Focus Financial Network Inc. now owns 4,693 shares of the insurance provider’s stock valued at $1,012,000 after purchasing an additional 52 shares in the last quarter. L2 Asset Management LLC boosted its holdings in shares of Allstate by 4.8% in the 2nd quarter. L2 Asset Management LLC now owns 1,168 shares of the insurance provider’s stock valued at $235,000 after purchasing an additional 53 shares in the last quarter. Howard Capital Management Inc. increased its stake in shares of Allstate by 3.2% in the 3rd quarter. Howard Capital Management Inc. now owns 1,739 shares of the insurance provider’s stock valued at $373,000 after purchasing an additional 54 shares during the last quarter. Finally, D Orazio & Associates Inc. raised its holdings in shares of Allstate by 5.2% during the 2nd quarter. D Orazio & Associates Inc. now owns 1,115 shares of the insurance provider’s stock worth $224,000 after buying an additional 55 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ALL shares. Zacks Research raised shares of Allstate from a “hold” rating to a “strong-buy” rating in a report on Friday, February 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allstate in a report on Wednesday, January 21st. Morgan Stanley reiterated an “equal weight” rating and set a $215.00 price objective (down from $245.00) on shares of Allstate in a research report on Tuesday, December 16th. Evercore set a $225.00 price objective on shares of Allstate in a research note on Wednesday, January 7th. Finally, Wells Fargo & Company cut their target price on shares of Allstate from $228.00 to $227.00 and set an “equal weight” rating on the stock in a research report on Friday, February 20th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $238.88.

Insider Activity

In other news, insider Suren Gupta sold 19,593 shares of the firm’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the completion of the transaction, the insider owned 100,646 shares of the company’s stock, valued at approximately $21,135,660. This trade represents a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.70% of the company’s stock.

Allstate Stock Performance

Shares of ALL stock opened at $204.84 on Friday. The firm has a market capitalization of $53.16 billion, a price-to-earnings ratio of 5.36, a PEG ratio of 0.43 and a beta of 0.23. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26. The business’s 50-day moving average price is $204.47 and its 200-day moving average price is $204.66. The Allstate Corporation has a 12 month low of $176.00 and a 12 month high of $216.75.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.72 by $5.59. The company had revenue of $17.35 billion during the quarter, compared to the consensus estimate of $17.23 billion. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The firm’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $7.67 earnings per share. Equities research analysts forecast that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be given a $1.08 dividend. This is an increase from Allstate’s previous quarterly dividend of $1.00. The ex-dividend date is Monday, March 2nd. This represents a $4.32 annualized dividend and a yield of 2.1%. Allstate’s dividend payout ratio is currently 11.31%.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.