Quantitative Systematic Strategies LLC lifted its holdings in shares of Allstate Corp (NYSE:ALL) by 208.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,472 shares of the insurance provider’s stock after acquiring an additional 17,903 shares during the quarter. Quantitative Systematic Strategies LLC’s holdings in Allstate were worth $2,493,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of ALL. Oregon Public Employees Retirement Fund boosted its stake in shares of Allstate by 8,063.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,165,142 shares of the insurance provider’s stock worth $38,000 after acquiring an additional 3,126,372 shares during the period. Norges Bank bought a new position in shares of Allstate during the 4th quarter worth approximately $189,048,000. Bank of Montreal Can boosted its stake in shares of Allstate by 65.3% during the 4th quarter. Bank of Montreal Can now owns 2,957,927 shares of the insurance provider’s stock worth $244,414,000 after acquiring an additional 1,168,707 shares during the period. Federated Investors Inc. PA boosted its stake in shares of Allstate by 120.9% during the 3rd quarter. Federated Investors Inc. PA now owns 1,115,465 shares of the insurance provider’s stock worth $110,096,000 after acquiring an additional 610,526 shares during the period. Finally, California Public Employees Retirement System boosted its stake in shares of Allstate by 38.2% during the 4th quarter. California Public Employees Retirement System now owns 2,123,049 shares of the insurance provider’s stock worth $175,428,000 after acquiring an additional 586,566 shares during the period. Institutional investors own 79.41% of the company’s stock.
ALL traded down $0.61 on Monday, reaching $96.40. The stock had a trading volume of 910,276 shares, compared to its average volume of 2,177,009. Allstate Corp has a fifty-two week low of $77.00 and a fifty-two week high of $102.73. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.33. The stock has a market cap of $32.30 billion, a PE ratio of 11.95, a PEG ratio of 1.24 and a beta of 0.82.
The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Thursday, February 28th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date was Wednesday, February 27th. This is a boost from Allstate’s previous quarterly dividend of $0.46. Allstate’s dividend payout ratio is presently 24.78%.
Several brokerages have recently commented on ALL. Credit Suisse Group downgraded Allstate from an “outperform” rating to a “neutral” rating and set a $93.00 target price for the company. in a research note on Monday, April 8th. Zacks Investment Research downgraded Allstate from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Wells Fargo & Co reiterated a “hold” rating and set a $94.00 target price on shares of Allstate in a research note on Tuesday, March 12th. William Blair upgraded Allstate from an “underperform” rating to a “market perform” rating in a research note on Wednesday, February 6th. Finally, ValuEngine upgraded Allstate from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Allstate currently has an average rating of “Hold” and an average target price of $101.50.
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The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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