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
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

The 10 Biggest Outlet Malls in USA

The 5 Most Popular Rap Songs of All Time

The 10 Countries that Eat the Most Meat

The10 Most Expensive Countries to Fly To

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!