Quantinno Capital Management LP Grows Stock Position in The Allstate Corporation $ALL

Quantinno Capital Management LP boosted its holdings in The Allstate Corporation (NYSE:ALL) by 17.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 294,149 shares of the insurance provider’s stock after acquiring an additional 44,146 shares during the period. Quantinno Capital Management LP’s holdings in Allstate were worth $60,989,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of Allstate by 3.7% in the 4th quarter. State Street Corp now owns 12,297,551 shares of the insurance provider’s stock valued at $2,571,600,000 after purchasing an additional 438,034 shares during the last quarter. GQG Partners LLC raised its holdings in Allstate by 36.0% in the 4th quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock valued at $1,142,449,000 after buying an additional 1,452,993 shares during the period. Franklin Resources Inc. lifted its position in Allstate by 29.2% in the fourth quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock valued at $1,042,321,000 after buying an additional 1,131,172 shares during the last quarter. Boston Partners boosted its stake in Allstate by 14.9% during 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 period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Allstate by 5.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,804,615 shares of the insurance provider’s stock valued at $581,515,000 after acquiring an additional 154,259 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Buying and Selling

In related news, COO Mario Rizzo sold 18,578 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the sale, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $17,991,267.60. This represents a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the transaction, the insider owned 27,558 shares of the company’s stock, valued at $5,959,968.66. This represents a 5.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety 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 Stock Up 4.2%

Shares of NYSE ALL opened at $272.26 on Wednesday. The stock has a market cap of $70.09 billion, a P/E ratio of 6.01, a PEG 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. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $272.61. The business’s fifty day simple moving average is $232.92 and its 200-day simple moving average is $216.91.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping the consensus estimate of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The firm had revenue of $16.94 billion during the quarter, compared to analysts’ expectations of $15.24 billion. During the same period in the previous year, the firm posted $3.53 EPS. Allstate’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities analysts predict that The Allstate Corporation will post 30.51 EPS for the current fiscal 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. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.6%. Allstate’s payout ratio is currently 9.53%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Barclays increased their price objective on shares of Allstate from $203.00 to $213.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 7th. Zacks Research downgraded Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. HSBC lowered Allstate from a “buy” rating to a “hold” rating and increased their target price for the stock from $244.00 to $264.00 in a research note on Monday, July 6th. Evercore set a $240.00 target price on Allstate in a research report on Friday, July 10th. Finally, Roth Capital reissued a “buy” rating and set a $275.00 price target on shares of Allstate in a research report on Friday, July 17th. Three investment 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 given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.