QRG Capital Management Inc. Acquires 27,778 Shares of The Allstate Corporation $ALL

QRG Capital Management Inc. boosted its holdings in The Allstate Corporation (NYSE:ALL) by 120.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 50,861 shares of the insurance provider’s stock after acquiring an additional 27,778 shares during the quarter. QRG Capital Management Inc.’s holdings in Allstate were worth $10,587,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. State Street Corp lifted its position in Allstate by 0.7% in the 3rd quarter. State Street Corp now owns 11,859,517 shares of the insurance provider’s stock valued at $2,557,362,000 after acquiring an additional 85,468 shares in the last quarter. Boston Partners lifted its stake in Allstate by 14.9% during the 3rd quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock valued at $654,652,000 after acquiring an additional 395,195 shares in the last quarter. Raymond James Financial Inc. lifted its stake in Allstate by 3.3% during the 2nd quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider’s stock valued at $562,388,000 after acquiring an additional 88,620 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Allstate by 18.2% during 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 in the last quarter. Finally, Legal & General Group Plc lifted its stake in Allstate by 6.7% during the 3rd quarter. Legal & General Group Plc now owns 2,011,214 shares of the insurance provider’s stock valued at $431,707,000 after acquiring an additional 126,401 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

Insider Activity at Allstate

In related news, COO Mario Rizzo sold 18,578 shares of Allstate stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $218.80, for a total value of $4,064,866.40. Following the sale, the chief operating officer owned 82,227 shares of the company’s stock, valued at approximately $17,991,267.60. The trade was a 18.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. TD Cowen cut Allstate from a “buy” rating to a “hold” rating in a research note on Monday, January 12th. Weiss Ratings upgraded Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, March 23rd. Mizuho dropped their target price on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, March 20th. Raymond James Financial reissued a “strong-buy” rating and set a $260.00 target price on shares of Allstate in a research report on Tuesday, March 3rd. Finally, Citigroup lifted their target price on shares of Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $240.56.

Allstate Trading Down 0.6%

NYSE ALL opened at $218.55 on Wednesday. The stock has a market capitalization of $56.26 billion, a price-to-earnings ratio of 4.82, a PEG ratio of 0.43 and a beta of 0.21. The Allstate Corporation has a one year low of $188.08 and a one year high of $222.23. 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 business’s fifty day moving average is $210.59 and its 200-day moving average is $205.97.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. The company 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%. Allstate’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.53 EPS. Equities research analysts predict that The Allstate Corporation will post 27.15 EPS for the current year.

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.