Arrowstreet Capital Limited Partnership Buys 182,977 Shares of The Allstate Corporation $ALL

Arrowstreet Capital Limited Partnership lifted its position in shares of The Allstate Corporation (NYSE:ALL) by 31.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 764,096 shares of the insurance provider’s stock after purchasing an additional 182,977 shares during the period. Arrowstreet Capital Limited Partnership owned 0.30% of Allstate worth $158,428,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Inceptionr LLC bought a new stake in shares of Allstate during the 1st quarter worth approximately $1,139,000. Bank of Nova Scotia raised its position in Allstate by 43.0% during the first quarter. Bank of Nova Scotia now owns 154,333 shares of the insurance provider’s stock valued at $31,999,000 after purchasing an additional 46,371 shares in the last quarter. Sei Investments Co. lifted its stake in Allstate by 4.4% during the first quarter. Sei Investments Co. now owns 293,430 shares of the insurance provider’s stock worth $60,838,000 after purchasing an additional 12,335 shares during the last quarter. Lido Advisors LLC boosted its holdings in shares of Allstate by 2.1% in the 1st quarter. Lido Advisors LLC now owns 36,534 shares of the insurance provider’s stock valued at $7,611,000 after purchasing an additional 760 shares in the last quarter. Finally, State of Wyoming boosted its holdings in shares of Allstate by 10.0% in the 1st quarter. State of Wyoming now owns 3,959 shares of the insurance provider’s stock valued at $821,000 after purchasing an additional 359 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods upped their price objective on Allstate from $242.00 to $255.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 8th. Wall Street Zen raised Allstate from a “hold” rating to a “buy” rating in a research note on Monday, July 20th. Roth Capital reissued a “buy” rating and issued a $275.00 target price on shares of Allstate in a report on Friday, July 17th. Mizuho raised their price target on shares of Allstate from $255.00 to $272.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Finally, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Allstate in a report on Thursday, June 18th. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Allstate has an average rating of “Moderate Buy” and a consensus target price of $254.80.

Insider Activity

In other news, COO Mario Rizzo sold 18,578 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $218.80, for a total value of $4,064,866.40. Following the completion of the sale, the chief operating officer directly owned 82,227 shares in the company, valued at $17,991,267.60. This trade represents a 18.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark Q. Prindiville sold 1,550 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 22,353 shares of company stock worth $4,851,560. Company insiders own 1.55% of the company’s stock.

Allstate Trading Up 2.2%

NYSE ALL opened at $260.16 on Friday. The business’s 50-day moving average price is $231.16 and its two-hundred day moving average price is $216.00. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $260.65. The firm has a market capitalization of $66.97 billion, a PE ratio of 5.74, a price-to-earnings-growth ratio of 0.45 and a beta of 0.16. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. The business 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 business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.53 earnings per share. On average, analysts expect that The Allstate Corporation will post 30.51 EPS for the current year.

Allstate Dividend Announcement

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

Allstate Company Profile

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.