Renaissance Technologies LLC Has $65.87 Million Stock Holdings in The Allstate Corporation $ALL

Renaissance Technologies LLC boosted its position in The Allstate Corporation (NYSE:ALL) by 25.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 317,700 shares of the insurance provider’s stock after acquiring an additional 63,700 shares during the quarter. Renaissance Technologies LLC owned 0.12% of Allstate worth $65,872,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ALL. Coldstream Capital Management Inc. increased its stake in shares of Allstate by 0.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider’s stock valued at $1,625,000 after purchasing an additional 50 shares during the last quarter. Compound Planning Inc. boosted its stake in Allstate by 1.6% in the fourth quarter. Compound Planning Inc. now owns 3,216 shares of the insurance provider’s stock valued at $669,000 after buying an additional 50 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in Allstate by 0.9% in the fourth quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider’s stock valued at $1,210,000 after buying an additional 52 shares in the last quarter. Root Financial Partners LLC grew its position in Allstate by 4.7% in the first quarter. Root Financial Partners LLC now owns 1,170 shares of the insurance provider’s stock valued at $243,000 after acquiring an additional 53 shares during the last quarter. Finally, Montag A & Associates Inc. raised its stake in Allstate by 10.2% during the fourth quarter. Montag A & Associates Inc. now owns 596 shares of the insurance provider’s stock worth $125,000 after acquiring an additional 55 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ALL shares. Citigroup raised their price target on shares of Allstate from $221.00 to $226.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Morgan Stanley increased their price objective on shares of Allstate from $215.00 to $240.00 and gave the company an “equal weight” rating in a research note on Monday, July 6th. Atlantic Securities set a $319.00 price target on Allstate in a research note on Wednesday, July 15th. Barclays lifted their price target on shares of Allstate from $203.00 to $213.00 and gave the stock an “underweight” rating in a report on Tuesday, July 7th. Finally, Zacks Research cut Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Allstate has an average rating of “Moderate Buy” and a consensus price target of $254.80.

Allstate Stock Performance

Shares of ALL opened at $260.16 on Monday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $66.97 billion, a P/E ratio of 5.74, a price-to-earnings-growth ratio of 0.45 and a beta of 0.16. The firm’s fifty day simple moving average is $231.16 and its two-hundred day simple moving average is $216.07. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $260.65.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping the consensus estimate of $7.31 by $3.34. The firm had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the company posted $3.53 EPS. As a group, analysts predict that The Allstate Corporation will post 30.51 EPS for the current year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be paid a $1.08 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 annualized dividend and a yield of 1.7%. Allstate’s payout ratio is 9.53%.

Insider Buying and Selling at Allstate

In other Allstate news, COO Mario Rizzo sold 18,578 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the transaction, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $17,991,267.60. This represents a 18.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrea Redmond sold 2,225 shares of Allstate stock in a transaction on Monday, June 1st. The shares were 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 of the company’s stock, valued at $451,474.75. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 22,353 shares of company stock valued at $4,851,560. 1.55% of the stock is currently owned by company insiders.

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.