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

Arrowstreet Capital Limited Partnership raised its stake in The Allstate Corporation (NYSE:ALL) by 31.5% during the first quarter, Holdings Channel reports. The fund owned 764,096 shares of the insurance provider’s stock after buying an additional 182,977 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Allstate were worth $158,428,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Allstate by 5.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552,120 shares of the insurance provider’s stock worth $112,533,000 after purchasing an additional 26,586 shares during the period. Mezzasalma Advisors LLC grew its holdings in shares of Allstate by 58.6% during the 4th quarter. Mezzasalma Advisors LLC now owns 23,918 shares of the insurance provider’s stock worth $4,875,000 after acquiring an additional 8,837 shares during the period. Meyer Handelman Co. grew its holdings in shares of Allstate by 4.8% during the 4th quarter. Meyer Handelman Co. now owns 206,787 shares of the insurance provider’s stock worth $43,043,000 after acquiring an additional 9,438 shares during the period. OFI Invest Asset Management bought a new position in shares of Allstate in the 4th quarter worth approximately $23,074,000. Finally, Strategic Global Advisors LLC lifted its stake in shares of Allstate by 19.2% in the 4th quarter. Strategic Global Advisors LLC now owns 48,882 shares of the insurance provider’s stock valued at $10,175,000 after purchasing an additional 7,870 shares during the period. 76.47% of the stock is owned by institutional investors.

Insider Buying and Selling at Allstate

In other Allstate news, Director Andrea Redmond sold 2,225 shares of Allstate stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the transaction, the director owned 2,225 shares of the company’s stock, valued at $451,474.75. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Mario Rizzo sold 18,578 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at $17,991,267.60. This represents a 18.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 22,353 shares of company stock valued at $4,851,560 over the last 90 days. 1.55% of the stock is currently owned by corporate insiders.

Allstate Price Performance

Shares of NYSE:ALL opened at $260.16 on Friday. 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 firm has a market cap of $66.97 billion, a price-to-earnings ratio of 5.74, a price-to-earnings-growth ratio of 0.45 and a beta of 0.16. The business has a 50-day simple moving average of $231.16 and a two-hundred day simple moving average of $216.00. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $260.65.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.31 by $3.34. The company had revenue of $16.94 billion for the quarter, compared to analysts’ expectations of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company posted $3.53 earnings per share. On average, analysts expect that The Allstate Corporation will post 30.51 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, August 31st. Allstate’s payout ratio is presently 9.53%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Evercore set a $240.00 price target on Allstate in a research report on Friday, July 10th. Morgan Stanley raised their price objective on Allstate from $215.00 to $240.00 and gave the company an “equal weight” rating in a research report on Monday, July 6th. Atlantic Securities set a $319.00 target price on shares of Allstate in a report on Wednesday, July 15th. Roth Capital reaffirmed a “buy” rating and issued a $275.00 target price on shares of Allstate in a research report on Friday, July 17th. Finally, Zacks Research lowered shares of Allstate from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $254.80.

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.