Marshall Wace North America L.P. Reduces Position in Allstate Corp (ALL)

Marshall Wace North America L.P. cut its position in shares of Allstate Corp (NYSE:ALL) by 47.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 158,403 shares of the insurance provider’s stock after selling 140,760 shares during the quarter. Marshall Wace North America L.P.’s holdings in Allstate were worth $15,635,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALL. Patriot Financial Group Insurance Agency LLC bought a new stake in Allstate in the third quarter worth $110,000. Stelac Advisory Services LLC bought a new stake in Allstate in the third quarter worth $128,000. O Shaughnessy Asset Management LLC boosted its holdings in Allstate by 1,316.0% in the third quarter. O Shaughnessy Asset Management LLC now owns 1,331 shares of the insurance provider’s stock worth $131,000 after acquiring an additional 1,237 shares in the last quarter. Denali Advisors LLC bought a new stake in Allstate in the third quarter worth $158,000. Finally, Belpointe Asset Management LLC bought a new stake in Allstate in the third quarter worth $159,000. Institutional investors own 77.15% of the company’s stock.

Several research firms have commented on ALL. Zacks Investment Research raised Allstate from a “hold” rating to a “buy” rating and set a $112.00 target price on the stock in a report on Tuesday, September 18th. Credit Suisse Group dropped their target price on Allstate from $114.00 to $112.00 and set a “buy” rating on the stock in a report on Tuesday, August 28th. ValuEngine raised Allstate from a “sell” rating to a “hold” rating in a report on Saturday, September 1st. Wells Fargo & Co reissued a “hold” rating on shares of Allstate in a report on Thursday, August 16th. Finally, Citigroup set a $115.00 target price on Allstate and gave the stock a “buy” rating in a report on Friday, October 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. Allstate has a consensus rating of “Hold” and a consensus target price of $102.82.

Shares of NYSE:ALL opened at $83.81 on Friday. The firm has a market cap of $29.31 billion, a PE ratio of 12.49, a price-to-earnings-growth ratio of 1.14 and a beta of 0.85. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.26 and a current ratio of 0.26. Allstate Corp has a 1 year low of $83.33 and a 1 year high of $105.36.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, October 31st. The insurance provider reported $1.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.28). The business had revenue of $8.60 billion for the quarter, compared to the consensus estimate of $8.51 billion. Allstate had a net margin of 9.38% and a return on equity of 15.48%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.60 earnings per share. On average, research analysts predict that Allstate Corp will post 8.92 earnings per share for the current fiscal year.

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

In other news, EVP Harriet K. Harty sold 10,515 shares of the company’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $98.87, for a total transaction of $1,039,618.05. Following the transaction, the executive vice president now directly owns 14,606 shares of the company’s stock, valued at $1,444,095.22. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jesse E. Merten sold 696 shares of the company’s stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $92.12, for a total value of $64,115.52. Following the transaction, the executive vice president now directly owns 2,102 shares in the company, valued at $193,636.24. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

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Allstate Profile

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.

Further Reading: Leveraged Buyout (LBO) Explained

Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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