Quantbot Technologies LP Makes New $1.28 Million Investment in The Allstate Corporation $ALL

Key Points

• Quantbot Technologies purchased 5,394 Allstate shares worth approximately $1.28 million in the second quarter. Institutional investors collectively own 76.47% of the company.
• Allstate reported strong quarterly results, with EPS of $8.99 versus the $6.06 consensus estimate and revenue of $18.60 billion, up 11.8% year over year.
• Insiders sold 91,446 shares worth $24.2 million over the past three months, while Allstate maintained a quarterly dividend of $1.08 per share, representing a 1.7% yield.

Quantbot Technologies LP bought a new stake in The Allstate Corporation (NYSE:ALL - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,394 shares of the insurance provider's stock, valued at approximately $1,283,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. MV Capital Management Inc. purchased a new position in Allstate during the 4th quarter valued at about $25,000. Gables Capital Management Inc. purchased a new stake in shares of Allstate in the second quarter worth approximately $26,000. Navalign LLC acquired a new stake in shares of Allstate during the fourth quarter worth approximately $27,000. Kelleher Financial Advisors acquired a new stake in shares of Allstate during the second quarter worth approximately $28,000. Finally, Evolution Wealth Management Inc. grew its position in Allstate by 7,000.0% during the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider's stock valued at $29,000 after purchasing an additional 140 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company's stock.

Insider Buying and Selling at Allstate

In other news, Director Andrea Redmond sold 2,225 shares of the company's 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 completion of the sale, the director owned 2,225 shares in the company, valued at approximately $451,474.75. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Mario Rizzo sold 56,225 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total value of $14,870,388.00. Following the transaction, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $21,747,396.96. This represents a 40.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 91,446 shares of company stock worth $24,208,675 over the last three months. Corporate insiders own 1.55% of the company's stock.

Allstate Price Performance

Shares of ALL opened at $257.72 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market cap of $65.17 billion, a PE ratio of 5.15, a PEG ratio of 0.40 and a beta of 0.16. The firm's 50 day moving average price is $251.80 and its 200 day moving average price is $225.88. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $277.22.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, topping the consensus estimate of $6.06 by $2.93. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The company had revenue of $18.60 billion for the quarter, compared to analyst estimates of $15.46 billion. During the same quarter in the prior year, the business posted $5.94 EPS. Allstate's quarterly revenue was up 11.8% on a year-over-year basis. As a group, research analysts expect that The Allstate Corporation will post 34.45 EPS for the current fiscal year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be given a dividend of $1.08 per share. 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 dividend payout ratio is presently 8.63%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ALL shares. UBS Group increased their target price on shares of Allstate from $261.00 to $275.00 and gave the stock a "neutral" rating in a research report on Monday, August 10th. Wall Street Zen upgraded shares of Allstate from a "hold" rating to a "buy" rating in a report on Monday, July 20th. Roth Capital set a $300.00 price target on shares of Allstate in a research note on Thursday, August 6th. Wells Fargo & Company lowered Allstate from an "equal weight" rating to an "underweight" rating and increased their price objective for the stock from $243.00 to $250.00 in a report on Friday, August 7th. Finally, Barclays lifted their price objective on Allstate from $213.00 to $226.00 and gave the company an "underweight" rating in a research report on Thursday, August 6th. Four investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Allstate currently has an average rating of "Hold" and an average target price of $265.26.

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.

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