Arrowstreet Capital Limited Partnership Grows Holdings in The Allstate Corporation $ALL

Arrowstreet Capital Limited Partnership grew its stake in The Allstate Corporation (NYSE:ALL) by 21.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 581,119 shares of the insurance provider’s stock after acquiring an additional 102,085 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Allstate were worth $120,960,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in ALL. Dorato Capital Management purchased a new stake in Allstate during the 4th quarter worth approximately $27,000. Navalign LLC acquired a new position in Allstate during the 4th quarter worth approximately $27,000. Princeton Global Asset Management LLC boosted its holdings in shares of Allstate by 101.3% in the 4th quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock valued at $31,000 after buying an additional 76 shares in the last quarter. Palisade Asset Management LLC acquired a new position in shares of Allstate in the 3rd quarter valued at $31,000. Finally, South Plains Financial Inc. boosted its stake in Allstate by 41.5% during the 3rd quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 49 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Allstate news, Director Andrea Redmond sold 2,225 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the sale, the director directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Mario Rizzo sold 18,578 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the sale, the chief operating officer directly owned 82,227 shares in the company, valued at $17,991,267.60. This represents a 18.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 22,353 shares of company stock valued at $4,851,560 in the last ninety days. Insiders own 1.55% of the company’s stock.

Allstate Stock Down 0.0%

Shares of Allstate stock opened at $221.54 on Tuesday. The firm has a fifty day moving average of $214.97 and a two-hundred day moving average of $208.98. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market cap of $57.03 billion, a P/E ratio of 4.89, a PEG ratio of 0.40 and a beta of 0.19. The Allstate Corporation has a one year low of $188.08 and a one year high of $227.62.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. The business had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $3.53 EPS. On average, analysts forecast that The Allstate Corporation will post 29.43 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, June 1st. Allstate’s dividend payout ratio (DPR) is currently 9.53%.

Analyst Upgrades and Downgrades

ALL has been the subject of a number of recent research reports. Citigroup increased their price target on shares of Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Wells Fargo & Company increased their price target on shares of Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Weiss Ratings upgraded shares of Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, March 23rd. The Goldman Sachs Group restated a “neutral” rating and set a $231.00 price objective on shares of Allstate in a research report on Thursday, March 5th. Finally, Barclays upped their price objective on shares of Allstate from $207.00 to $208.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 8th. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and a consensus price target of $240.33.

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.