Renaissance Technologies LLC Has $65.87 Million Holdings in The Allstate Corporation $ALL

Renaissance Technologies LLC grew its position in shares of The Allstate Corporation (NYSE:ALL) by 25.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 317,700 shares of the insurance provider’s stock after acquiring an additional 63,700 shares during the quarter. Renaissance Technologies LLC’s holdings in Allstate were worth $65,872,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the company. MV Capital Management Inc. bought a new stake in Allstate during the 4th quarter valued at $25,000. Navalign LLC bought a new position in shares of Allstate in the fourth quarter valued at $27,000. Dorato Capital Management bought a new position in shares of Allstate in the fourth quarter valued at $27,000. Evolution Wealth Management Inc. grew its holdings in shares of Allstate by 7,000.0% during the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock valued at $29,000 after buying an additional 140 shares during the last quarter. Finally, Palisade Asset Management LLC bought a new stake in shares of Allstate during the third quarter worth about $31,000. 76.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ALL has been the topic of a number of analyst reports. Keefe, Bruyette & Woods upped their target price on shares of Allstate from $242.00 to $255.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Raymond James Financial lifted their price target on Allstate from $260.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Monday, July 6th. Piper Sandler reissued an “overweight” rating on shares of Allstate in a report on Thursday, May 28th. Wells Fargo & Company increased their price objective on Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Finally, UBS Group lowered Allstate from a “buy” rating to a “neutral” rating and raised their target price for the company from $255.00 to $261.00 in a report on Wednesday, July 15th. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $254.80.

Allstate Stock Performance

Shares of ALL stock opened at $260.16 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a 50-day moving average of $231.16 and a 200-day moving average of $216.07. The Allstate Corporation has a one year low of $188.08 and a one year high of $260.65. The company has a market cap of $66.97 billion, a P/E ratio of 5.74, a P/E/G ratio of 0.45 and a beta of 0.16.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping the consensus estimate of $7.31 by $3.34. The business had revenue of $16.94 billion for the quarter, compared to analysts’ expectations of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company earned $3.53 earnings per share. Equities research analysts forecast that The Allstate Corporation will post 30.51 EPS for the current fiscal year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be issued a $1.08 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. Allstate’s dividend payout ratio is currently 9.53%.

Insider Activity

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the transaction, the insider owned 27,558 shares of the company’s stock, valued at approximately $5,959,968.66. The trade was a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrea Redmond sold 2,225 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the transaction, the director owned 2,225 shares of the company’s stock, valued at $451,474.75. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 22,353 shares of company stock valued at $4,851,560 over the last three months. Corporate insiders own 1.55% of the company’s stock.

Allstate Profile

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.