The Allstate Corporation $ALL Stock Position Lowered by AQR Capital Management LLC

AQR Capital Management LLC decreased its holdings in shares of The Allstate Corporation (NYSE:ALL) by 18.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,644,644 shares of the insurance provider’s stock after selling 373,759 shares during the period. AQR Capital Management LLC’s holdings in Allstate were worth $325,376,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Arlington Trust Co LLC raised its holdings in shares of Allstate by 261.8% during the second quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 89 shares during the period. Clearstead Trust LLC lifted its stake in Allstate by 3,800.0% in the 2nd quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 152 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Allstate by 315.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 126 shares during the period. Hilltop National Bank acquired a new stake in Allstate during the 2nd quarter worth about $34,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in Allstate during the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analysts Set New Price Targets

ALL has been the subject of several recent research reports. Roth Capital increased their price objective on Allstate from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. JPMorgan Chase & Co. boosted their target price on shares of Allstate from $254.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Keefe, Bruyette & Woods increased their price target on Allstate from $246.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, November 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Allstate in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Allstate from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and an average target price of $237.92.

Insider Buying and Selling at Allstate

In other news, insider Suren Gupta sold 3,786 shares of the company’s stock in a transaction on Friday, November 28th. The stock was sold at an average price of $215.13, for a total transaction of $814,482.18. Following the transaction, the insider owned 100,646 shares of the company’s stock, valued at $21,651,973.98. This represents a 3.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 28,807 shares of company stock worth $6,198,726 in the last ninety days. Insiders own 1.70% of the company’s stock.

Allstate Stock Up 0.1%

Shares of NYSE:ALL opened at $206.98 on Friday. The company’s fifty day moving average is $203.66 and its 200-day moving average is $202.45. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.43 and a current ratio of 0.43. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $215.89. The company has a market capitalization of $54.16 billion, a PE ratio of 6.70, a P/E/G ratio of 0.39 and a beta of 0.25.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.48 by $5.69. Allstate had a net margin of 12.53% and a return on equity of 35.42%. The company had revenue of $17.26 billion during the quarter, compared to analysts’ expectations of $16.59 billion. During the same quarter in the previous year, the company posted $3.91 earnings per share. Allstate’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities research analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be issued a $1.00 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.9%. Allstate’s dividend payout ratio (DPR) is currently 12.95%.

Allstate Company Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.