QRG Capital Management Inc. Grows Stock Holdings in The Allstate Corporation $ALL

QRG Capital Management Inc. boosted its stake in The Allstate Corporation (NYSE:ALL) by 70.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 89,837 shares of the insurance provider’s stock after acquiring an additional 37,123 shares during the period. QRG Capital Management Inc.’s holdings in Allstate were worth $18,085,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Arlington Trust Co LLC raised its position in Allstate by 261.8% during the 2nd quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider’s stock worth $25,000 after buying an additional 89 shares during the last quarter. Hughes Financial Services LLC acquired a new position in shares of Allstate during the first quarter worth about $28,000. Hilltop National Bank purchased a new position in Allstate during the second quarter worth about $34,000. Meeder Asset Management Inc. lifted its position in Allstate by 113.8% in the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 99 shares during the period. Finally, McClarren Financial Advisors Inc. acquired a new stake in shares of Allstate in the 1st quarter valued at approximately $43,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Trading Up 0.4%

Shares of ALL stock opened at $210.92 on Friday. The Allstate Corporation has a twelve month low of $176.00 and a twelve month high of $215.70. The company has a market capitalization of $55.58 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 0.83 and a beta of 0.38. The firm has a 50-day moving average price of $204.72 and a 200 day moving average price of $201.03. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, topping analysts’ consensus estimates of $3.20 by $2.74. The business had revenue of $15.05 billion during the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.61 earnings per share. Research analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, August 29th. Allstate’s dividend payout ratio is currently 18.81%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ALL shares. UBS Group increased their price objective on Allstate from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Wolfe Research upgraded shares of Allstate to a “strong-buy” rating in a report on Tuesday, September 16th. BMO Capital Markets boosted their price objective on shares of Allstate from $230.00 to $235.00 and gave the stock an “outperform” rating in a report on Wednesday, August 20th. Cantor Fitzgerald raised shares of Allstate to a “hold” rating in a report on Wednesday, August 13th. Finally, Wells Fargo & Company set a $202.00 price target on shares of Allstate and gave the company an “equal weight” rating in a research report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $231.56.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.