Dynamic Technology Lab Private Ltd Invests $1.67 Million in Allstate Corp (ALL) Stock

Dynamic Technology Lab Private Ltd purchased a new stake in shares of Allstate Corp (NYSE:ALL) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 16,903 shares of the insurance provider’s stock, valued at approximately $1,669,000.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Allstate by 10.6% during the third quarter. BlackRock Inc. now owns 27,138,023 shares of the insurance provider’s stock worth $2,678,525,000 after purchasing an additional 2,608,827 shares in the last quarter. Macquarie Group Ltd. lifted its position in shares of Allstate by 4.3% during the second quarter. Macquarie Group Ltd. now owns 7,478,697 shares of the insurance provider’s stock worth $682,581,000 after purchasing an additional 305,110 shares in the last quarter. Northern Trust Corp lifted its position in shares of Allstate by 0.4% during the second quarter. Northern Trust Corp now owns 6,831,977 shares of the insurance provider’s stock worth $623,554,000 after purchasing an additional 24,814 shares in the last quarter. LSV Asset Management lifted its position in shares of Allstate by 2.1% during the third quarter. LSV Asset Management now owns 5,520,094 shares of the insurance provider’s stock worth $544,833,000 after purchasing an additional 111,013 shares in the last quarter. Finally, FMR LLC raised its holdings in Allstate by 24.7% in the second quarter. FMR LLC now owns 4,096,814 shares of the insurance provider’s stock valued at $373,917,000 after acquiring an additional 811,694 shares in the last quarter. 77.15% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have weighed in on ALL shares. Zacks Investment Research lowered shares of Allstate from a “buy” rating to a “hold” rating in a research note on Monday, September 24th. Bank of America lowered their target price on shares of Allstate from $113.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, November 2nd. Wells Fargo & Co set a $100.00 target price on shares of Allstate and gave the company a “hold” rating in a research note on Wednesday, October 31st. Credit Suisse Group set a $112.00 target price on shares of Allstate and gave the company a “buy” rating in a research note on Wednesday, November 14th. Finally, Morgan Stanley lowered their target price on shares of Allstate from $105.00 to $102.00 and set a “hold” rating for the company in a research note on Wednesday, November 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $102.82.

Allstate stock opened at $83.81 on Friday. The stock has a market cap of $29.31 billion, a PE ratio of 12.49, a PEG ratio of 1.14 and a beta of 0.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.26 and a quick ratio of 0.26. Allstate Corp has a one year low of $83.33 and a one year high of $105.36.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, October 31st. The insurance provider reported $1.93 EPS for the quarter, missing the consensus estimate of $2.21 by ($0.28). The firm had revenue of $8.60 billion for the quarter, compared to the consensus estimate of $8.51 billion. Allstate had a return on equity of 15.48% and a net margin of 9.38%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.60 EPS. Equities research analysts predict that Allstate Corp will post 8.92 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, November 30th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.84 annualized dividend and a dividend yield of 2.20%. Allstate’s dividend payout ratio is currently 27.42%.

In related news, EVP Harriet K. Harty sold 10,515 shares of the stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $98.87, for a total value of $1,039,618.05. Following the completion of the transaction, the executive vice president now owns 14,606 shares in the company, valued at approximately $1,444,095.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jesse E. Merten sold 696 shares of the stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $92.12, for a total transaction of $64,115.52. Following the completion of the transaction, the executive vice president now owns 2,102 shares of the company’s stock, valued at approximately $193,636.24. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

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About Allstate

The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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