Hedge Funds Are Crazy About The Allstate Corporation (ALL)

Page 1 of 2

Is The Allstate Corporation (NYSE:ALL) a buy?

To the average investor, there are plenty of gauges shareholders can use to watch the equity markets. A couple of the most underrated are hedge fund and insider trading movement. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the top investment managers can trounce the broader indices by a superb margin (see just how much).

Equally as necessary, positive insider trading sentiment is a second way to analyze the investments you’re interested in. As the old adage goes: there are a number of reasons for an upper level exec to cut shares of his or her company, but only one, very obvious reason why they would initiate a purchase. Many academic studies have demonstrated the market-beating potential of this strategy if you know what to do (learn more here).

The Allstate Corporation (NYSE:ALL)

Now that that’s out of the way, we’re going to examine the newest info surrounding The Allstate Corporation (NYSE:ALL).

What does the smart money think about The Allstate Corporation (NYSE:ALL)?

Heading into Q3, a total of 35 of the hedge funds we track held long positions in this stock, a change of 9% from the previous quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists a select group of noteworthy hedge fund managers who were increasing their holdings substantially.

When using filings from the hedgies we track, Viking Global, managed by Andreas Halvorsen, holds the most valuable position in The Allstate Corporation (NYSE:ALL). Viking Global has a $350.5 million position in the stock, comprising 1.9% of its 13F portfolio. Coming in second is Citadel Investment Group, managed by Ken Griffin, which held a $203.9 million position; 0.4% of its 13F portfolio is allocated to the company. Some other peers that are bullish include Rob Citrone’s Discovery Capital Management, Richard S. Pzena’s Pzena Investment Management and Phill Gross and Robert Atchinson’s Adage Capital Management.

As one would understandably expect, particular hedge funds have jumped into The Allstate Corporation (NYSE:ALL) headfirst. Viking Global, managed by Andreas Halvorsen, initiated the most valuable position in The Allstate Corporation (NYSE:ALL). Viking Global had 350.5 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also made a $203.9 million investment in the stock during the quarter. The other funds with new positions in the stock are Rob Citrone’s Discovery Capital Management, Richard S. Pzena’s Pzena Investment Management, and Phill Gross and Robert Atchinson’s Adage Capital Management.

How are insiders trading The Allstate Corporation (NYSE:ALL)?

Bullish insider trading is best served when the company we’re looking at has experienced transactions within the past 180 days. Over the latest half-year time frame, The Allstate Corporation (NYSE:ALL) has seen zero unique insiders purchasing, and 12 insider sales (see the details of insider trades here).

We’ll also take a look at the relationship between both of these indicators in other stocks similar to The Allstate Corporation (NYSE:ALL). These stocks are The Progressive Corporation (NYSE:PGR), Travelers Companies Inc (NYSE:TRV), Loews Corporation (NYSE:L), ACE Limited (NYSE:ACE), and The Chubb Corporation (NYSE:CB). This group of stocks are in the property & casualty insurance industry and their market caps are similar to ALL’s market cap.

Page 1 of 2
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Largest Pharmaceutical Companies In the World

The 10 Most Expensive Android Apps

The 9 Most Expensive Designer Bags in the World

The 7 Most Expensive Real Estate in the World

The 10 Most Expensive eBay Items Ever Sold

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!