QRG Capital Management Inc. Has $4.96 Million Stock Position in The Allstate Corporation $ALL

QRG Capital Management Inc. cut its stake in shares of The Allstate Corporation (NYSE:ALL) by 74.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,083 shares of the insurance provider’s stock after selling 66,754 shares during the period. QRG Capital Management Inc.’s holdings in Allstate were worth $4,955,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of ALL. Evergreen Capital Management LLC boosted its holdings in shares of Allstate by 10.6% in the 3rd quarter. Evergreen Capital Management LLC now owns 4,667 shares of the insurance provider’s stock valued at $1,006,000 after buying an additional 446 shares during the last quarter. Leavell Investment Management Inc. increased its stake in shares of Allstate by 18.6% during the 3rd quarter. Leavell Investment Management Inc. now owns 2,246 shares of the insurance provider’s stock worth $484,000 after purchasing an additional 353 shares during the last quarter. Confluence Wealth Services Inc. raised its holdings in shares of Allstate by 2.0% in the 3rd quarter. Confluence Wealth Services Inc. now owns 8,116 shares of the insurance provider’s stock valued at $1,742,000 after purchasing an additional 161 shares during the period. Blodgett Wealth Advisors LLC acquired a new stake in Allstate in the 3rd quarter valued at about $204,000. Finally, Klein Pavlis & Peasley Financial Inc. lifted its stake in Allstate by 8.2% in the 3rd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,028 shares of the insurance provider’s stock valued at $865,000 after purchasing an additional 304 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors.

Insider Activity at Allstate

In related news, insider Suren Gupta sold 21,871 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $215.21, for a total transaction of $4,706,857.91. Following the completion of the sale, the insider owned 100,646 shares of the company’s stock, valued at $21,660,025.66. This represents a 17.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 48,400 shares of company stock valued at $10,313,256 in the last quarter. 1.70% of the stock is currently owned by company insiders.

Allstate Price Performance

Shares of Allstate stock opened at $192.03 on Monday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $50.25 billion, a price-to-earnings ratio of 6.22, a price-to-earnings-growth ratio of 0.42 and a beta of 0.24. The Allstate Corporation has a twelve month low of $176.00 and a twelve month high of $215.89. The company has a 50-day simple moving average of $207.51 and a two-hundred day simple moving average of $203.43.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, November 5th. The insurance provider reported $11.17 EPS for the quarter, topping the consensus estimate of $5.48 by $5.69. The company had revenue of $17.26 billion for the quarter, compared to analysts’ expectations of $16.59 billion. Allstate had a net margin of 12.53% and a return on equity of 35.42%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $3.91 earnings per share. Analysts forecast that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, December 1st. Allstate’s dividend payout ratio is 12.95%.

Analyst Ratings Changes

ALL has been the topic of several research analyst reports. Mizuho set a $255.00 price objective on Allstate in a research note on Wednesday. William Blair downgraded Allstate from an “outperform” rating to a “market perform” rating in a report on Thursday, December 18th. Zacks Research cut shares of Allstate from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th. TD Cowen reissued a “hold” rating and issued a $231.00 price objective (up from $224.00) on shares of Allstate in a research report on Monday, January 12th. Finally, JPMorgan Chase & Co. raised their target price on shares of Allstate from $254.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $236.19.

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.