Teza Capital Management LLC Takes $841,000 Position in Allstate Corp (NYSE:ALL)

Teza Capital Management LLC purchased a new stake in shares of Allstate Corp (NYSE:ALL) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 8,933 shares of the insurance provider’s stock, valued at approximately $841,000.

Other hedge funds have also made changes to their positions in the company. Oregon Public Employees Retirement Fund raised its holdings in Allstate by 8,063.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,165,142 shares of the insurance provider’s stock valued at $38,000 after acquiring an additional 3,126,372 shares in the last quarter. Norges Bank acquired a new stake in Allstate in the fourth quarter valued at $189,048,000. Boston Partners raised its holdings in Allstate by 17.1% in the first quarter. Boston Partners now owns 11,106,016 shares of the insurance provider’s stock valued at $1,045,965,000 after acquiring an additional 1,620,871 shares in the last quarter. California Public Employees Retirement System raised its holdings in Allstate by 38.2% in the fourth quarter. California Public Employees Retirement System now owns 2,123,049 shares of the insurance provider’s stock valued at $175,428,000 after acquiring an additional 586,566 shares in the last quarter. Finally, Macquarie Group Ltd. raised its holdings in Allstate by 6.3% in the fourth quarter. Macquarie Group Ltd. now owns 7,852,608 shares of the insurance provider’s stock valued at $648,861,000 after acquiring an additional 468,725 shares in the last quarter. 77.33% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Susan L. Lees sold 30,189 shares of the company’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $102.26, for a total value of $3,087,127.14. Following the transaction, the executive vice president now owns 62,854 shares in the company, valued at approximately $6,427,450.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Judith A. Sprieser sold 2,225 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $102.63, for a total value of $228,351.75. The disclosure for this sale can be found here. Insiders have sold 54,703 shares of company stock valued at $5,593,860 over the last ninety days. Insiders own 1.60% of the company’s stock.

ALL has been the subject of several recent research reports. Goldman Sachs Group upgraded shares of Allstate from a “neutral” rating to a “buy” rating and boosted their target price for the company from $106.00 to $110.00 in a research note on Wednesday, May 29th. Morgan Stanley boosted their target price on shares of Allstate from $94.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 21st. UBS Group upped their price target on shares of Allstate from $102.00 to $106.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Credit Suisse Group lowered shares of Allstate from an “outperform” rating to a “neutral” rating and set a $93.00 price target for the company. in a research report on Monday, April 8th. Finally, Zacks Investment Research lowered shares of Allstate from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Allstate presently has an average rating of “Hold” and a consensus target price of $102.42.

ALL traded up $1.55 on Friday, reaching $101.69. The company had a trading volume of 1,756,011 shares, compared to its average volume of 1,765,268. Allstate Corp has a one year low of $77.00 and a one year high of $103.99. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a market cap of $33.85 billion, a P/E ratio of 12.60, a P/E/G ratio of 1.35 and a beta of 0.81. The firm has a fifty day moving average of $98.50.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $2.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.28 by $0.02. Allstate had a net margin of 6.26% and a return on equity of 12.66%. The company had revenue of $8.70 billion during the quarter, compared to the consensus estimate of $8.82 billion. During the same period in the prior year, the company earned $2.96 EPS. Allstate’s revenue was up 6.9% on a year-over-year basis. Sell-side analysts forecast that Allstate Corp will post 8.87 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, May 31st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Thursday, May 30th. Allstate’s dividend payout ratio is presently 24.78%.

Allstate Profile

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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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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