Tower Research Capital LLC TRC lowered its stake in shares of Allstate Corp (NYSE:ALL) by 35.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,579 shares of the insurance provider’s stock after selling 3,537 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Allstate were worth $649,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC acquired a new position in Allstate in the third quarter worth $110,000. Stelac Advisory Services LLC acquired a new position in Allstate in the third quarter worth $128,000. O Shaughnessy Asset Management LLC boosted its holdings in Allstate by 1,316.0% in the third quarter. O Shaughnessy Asset Management LLC now owns 1,331 shares of the insurance provider’s stock worth $131,000 after purchasing an additional 1,237 shares during the period. Cornerstone Wealth Management LLC acquired a new position in Allstate in the third quarter worth $146,000. Finally, Denali Advisors LLC acquired a new position in Allstate in the third quarter worth $158,000. 77.15% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Harriet K. Harty sold 10,515 shares of the business’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $98.87, for a total transaction of $1,039,618.05. Following the sale, the executive vice president now owns 14,606 shares in the company, valued at approximately $1,444,095.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jesse E. Merten sold 696 shares of the company’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $92.12, for a total value of $64,115.52. Following the completion of the sale, the executive vice president now owns 2,102 shares in the company, valued at approximately $193,636.24. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
ALL stock opened at $83.81 on Friday. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $29.31 billion, a price-to-earnings ratio of 12.49, a P/E/G ratio of 1.14 and a beta of 0.85. Allstate Corp has a twelve month low of $83.33 and a twelve month high of $105.36.
Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, October 31st. The insurance provider reported $1.93 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.21 by ($0.28). Allstate had a net margin of 9.38% and a return on equity of 15.48%. The business had revenue of $8.60 billion during the quarter, compared to analyst estimates of $8.51 billion. During the same period in the previous year, the business earned $1.60 earnings per share. The business’s quarterly revenue was up 5.8% on a year-over-year basis. On average, research analysts predict that Allstate Corp will post 8.92 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Friday, November 30th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.84 annualized dividend and a yield of 2.20%. Allstate’s payout ratio is currently 27.42%.
A number of equities analysts have commented on ALL shares. Zacks Investment Research raised shares of Allstate from a “hold” rating to a “buy” rating and set a $111.00 price objective for the company in a report on Monday, August 27th. Citigroup set a $115.00 target price on Allstate and gave the company a “buy” rating in a research note on Friday, October 12th. Credit Suisse Group lowered their price target on Allstate from $114.00 to $112.00 and set a “buy” rating for the company in a research note on Tuesday, August 28th. Wells Fargo & Co restated a “hold” rating on shares of Allstate in a report on Thursday, August 16th. Finally, Bank of America reduced their target price on Allstate from $113.00 to $110.00 and set a “buy” rating for the company in a report on Friday, November 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $102.82.
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Allstate Company Profile
The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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