Here is What Hedge Funds Think About The Allstate Corporation (ALL)

The Allstate Corporation (NYSE:ALL) was in 32 hedge funds’ portfolio at the end of March. ALL has seen an increase in activity from the world’s largest hedge funds of late. There were 28 hedge funds in our database with ALL positions at the end of the previous quarter.

At the moment, there are many methods shareholders can use to monitor Mr. Market. Two of the most innovative are hedge fund and insider trading sentiment. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the best fund managers can outpace the broader indices by a significant amount (see just how much).

Equally as integral, positive insider trading sentiment is another way to break down the world of equities. Obviously, there are a number of motivations for an upper level exec to sell shares of his or her company, but just one, very obvious reason why they would initiate a purchase. Plenty of academic studies have demonstrated the valuable potential of this tactic if you know where to look (learn more here).

Now, it’s important to take a gander at the recent action surrounding The Allstate Corporation (NYSE:ALL).

How have hedgies been trading The Allstate Corporation (NYSE:ALL)?

At Q1’s end, a total of 32 of the hedge funds we track held long positions in this stock, a change of 14% from the previous quarter. With hedgies’ capital changing hands, there exists an “upper tier” of key hedge fund managers who were upping their holdings significantly.

When looking at the hedgies we track, Ken Griffin’s Citadel Investment Group had the most valuable position in The Allstate Corporation (NYSE:ALL), worth close to $317.3 million, comprising 0.5% of its total 13F portfolio. On Citadel Investment Group’s heels is Richard S. Pzena of Pzena Investment Management, with a $233.2 million position; 1.6% of its 13F portfolio is allocated to the stock. Other peers that hold long positions include Andreas Halvorsen’s Viking Global, Rob Citrone’s Discovery Capital Management and Phill Gross and Robert Atchinson’s Adage Capital Management.

Consequently, some big names have jumped into The Allstate Corporation (NYSE:ALL) headfirst. Viking Global, managed by Andreas Halvorsen, assembled the biggest position in The Allstate Corporation (NYSE:ALL). Viking Global had 225.8 million invested in the company at the end of the quarter. Ken Gray and Steve Walsh’s Bryn Mawr Capital also made a $9.6 million investment in the stock during the quarter. The following funds were also among the new ALL investors: Patrik Brummer’s Zenit Asset Management AB, Jeffrey Vinik’s Vinik Asset Management, and D. E. Shaw’s D E Shaw.

What have insiders been doing with The Allstate Corporation (NYSE:ALL)?

Insider purchases made by high-level executives is most useful when the company we’re looking at has seen transactions within the past six months. Over the last 180-day time period, The Allstate Corporation (NYSE:ALL) has experienced zero unique insiders purchasing, and 13 insider sales (see the details of insider trades here).

Let’s check out hedge fund and insider activity 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 the members of the property & casualty insurance industry and their market caps resemble ALL’s market cap.