QRG Capital Management Inc. Has $10.59 Million Holdings in The Allstate Corporation $ALL

QRG Capital Management Inc. raised its position in The Allstate Corporation (NYSE:ALL) by 120.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 50,861 shares of the insurance provider’s stock after purchasing an additional 27,778 shares during the period. QRG Capital Management Inc.’s holdings in Allstate were worth $10,587,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. State Street Corp lifted its holdings in Allstate by 0.7% in the third quarter. State Street Corp now owns 11,859,517 shares of the insurance provider’s stock valued at $2,557,362,000 after buying an additional 85,468 shares during the period. Boston Partners grew its holdings in Allstate by 14.9% during the 3rd quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock worth $654,652,000 after acquiring an additional 395,195 shares during the period. Raymond James Financial Inc. raised its position in shares of Allstate by 3.3% in the 2nd quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider’s stock worth $562,388,000 after acquiring an additional 88,620 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Allstate by 18.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,606,451 shares of the insurance provider’s stock worth $559,435,000 after acquiring an additional 401,700 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Allstate by 6.7% in the 3rd quarter. Legal & General Group Plc now owns 2,011,214 shares of the insurance provider’s stock valued at $431,707,000 after purchasing an additional 126,401 shares during the period. 76.47% of the stock is owned by institutional investors.

Insider Activity

In related news, COO Mario Rizzo sold 18,578 shares of the stock in a transaction on 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 transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link. 1.55% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on ALL shares. Keefe, Bruyette & Woods raised their target price on Allstate from $254.00 to $260.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 10th. The Goldman Sachs Group restated a “neutral” rating and set a $231.00 price target on shares of Allstate in a report on Thursday, March 5th. Citigroup raised their price objective on shares of Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Cantor Fitzgerald reiterated a “neutral” rating and issued a $220.00 price objective on shares of Allstate in a research note on Thursday, February 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $240.56.

Allstate Price Performance

ALL stock opened at $218.55 on Wednesday. The stock has a market capitalization of $56.26 billion, a PE ratio of 4.82, a price-to-earnings-growth ratio of 0.43 and a beta of 0.21. The company’s 50-day moving average is $210.59 and its 200-day moving average is $205.97. 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 Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $222.23.

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 analysts’ consensus estimates of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company had revenue of $16.94 billion for the quarter, compared to analysts’ expectations of $15.24 billion. During the same period last year, the business earned $3.53 EPS. Allstate’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities research analysts expect that The Allstate Corporation will post 27.15 EPS for the current fiscal year.

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.