Quantitative Investment Management LLC Purchases New Stake in The Allstate Corporation $ALL

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

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Allstate in the second quarter valued at about $482,870,000. Swedbank AB boosted its holdings in shares of Allstate by 2,157.8% during the 3rd quarter. Swedbank AB now owns 861,725 shares of the insurance provider’s stock worth $184,969,000 after buying an additional 823,559 shares during the period. Ameriprise Financial Inc. grew its stake in Allstate by 52.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,385,901 shares of the insurance provider’s stock valued at $279,062,000 after buying an additional 478,598 shares during the last quarter. Vanguard Group Inc. raised its holdings in Allstate by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 33,235,231 shares of the insurance provider’s stock valued at $6,690,584,000 after acquiring an additional 435,145 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Allstate by 18.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,606,451 shares of the insurance provider’s stock valued at $559,435,000 after acquiring an additional 401,700 shares during the period. 76.47% of the stock is owned by institutional investors.

Allstate Trading Down 0.4%

Shares of ALL stock opened at $204.84 on Friday. The stock has a market cap of $53.16 billion, a P/E ratio of 5.36, a price-to-earnings-growth ratio of 0.43 and a beta of 0.23. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $216.75. 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 stock has a 50 day simple moving average of $204.47 and a 200 day simple moving average of $204.66.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 EPS for the quarter, topping analysts’ consensus estimates of $8.72 by $5.59. The firm had revenue of $17.35 billion for the quarter, compared to analyst estimates of $17.23 billion. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The company’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the company earned $7.67 EPS. On average, research analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

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

Insider Activity at Allstate

In related news, insider Suren Gupta sold 19,593 shares of the business’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total value of $4,114,530.00. Following the completion of the transaction, the insider owned 100,646 shares of the company’s stock, valued at $21,135,660. The trade was a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ALL shares. Wells Fargo & Company reduced their price objective on Allstate from $228.00 to $227.00 and set an “equal weight” rating for the company in a report on Friday, February 20th. Citigroup increased their target price on Allstate from $216.00 to $221.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 10th. JPMorgan Chase & Co. lifted their price target on Allstate from $260.00 to $263.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Keefe, Bruyette & Woods boosted their price target on Allstate from $254.00 to $260.00 and gave the company an “outperform” rating in a research note on Tuesday, February 10th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $231.00 price objective on shares of Allstate in a report on Thursday, March 5th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $238.88.

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.