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

Arrowstreet Capital Limited Partnership boosted its position in shares of The Allstate Corporation (NYSE:ALL) by 21.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 581,119 shares of the insurance provider’s stock after acquiring an additional 102,085 shares during the period. Arrowstreet Capital Limited Partnership owned 0.22% of Allstate worth $120,960,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp lifted its position in Allstate by 3.7% during the fourth quarter. State Street Corp now owns 12,297,551 shares of the insurance provider’s stock valued at $2,571,600,000 after acquiring an additional 438,034 shares during the last quarter. GQG Partners LLC raised its holdings in shares of Allstate by 36.0% in the fourth quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock worth $1,142,449,000 after buying an additional 1,452,993 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Allstate by 29.2% in the fourth quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock worth $1,042,321,000 after buying an additional 1,131,172 shares during the last quarter. Boston Partners raised its holdings in shares of Allstate by 14.9% in the third quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock worth $654,652,000 after buying an additional 395,195 shares during the last quarter. Finally, Raymond James Financial Inc. raised its holdings in shares of Allstate by 3.3% in the second quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider’s stock worth $562,388,000 after buying an additional 88,620 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wall Street Zen cut shares of Allstate from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $231.00 price target on shares of Allstate in a report on Thursday, March 5th. Weiss Ratings upgraded shares of Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, March 23rd. Raymond James Financial reiterated a “strong-buy” rating and issued a $260.00 price objective on shares of Allstate in a research note on Tuesday, March 3rd. Finally, Piper Sandler reiterated an “overweight” rating on shares of Allstate in a research note on Thursday, May 28th. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $240.33.

Insiders Place Their Bets

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the transaction, the insider directly owned 27,558 shares of the company’s stock, valued at $5,959,968.66. The trade was a 5.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrea Redmond sold 2,225 shares of Allstate stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following the transaction, the director directly owned 2,225 shares in the company, valued at $451,474.75. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 22,353 shares of company stock valued at $4,851,560 over the last ninety days. Company insiders own 1.55% of the company’s stock.

Allstate Stock Down 0.0%

NYSE:ALL opened at $221.54 on Tuesday. The firm has a market capitalization of $57.03 billion, a P/E ratio of 4.89, a PEG ratio of 0.40 and a beta of 0.19. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36. The company’s fifty day moving average price is $214.97 and its 200-day moving average price is $208.98. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $227.62.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, beating the consensus estimate of $7.31 by $3.34. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The company had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same quarter last year, the business earned $3.53 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. As a group, equities research analysts anticipate that The Allstate Corporation will post 29.43 EPS for the current year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $4.32 dividend on an annualized basis and a yield of 2.0%. Allstate’s payout ratio is 9.53%.

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.