Capstone Capital Management Ltd purchased a new stake in shares of The Allstate Corporation (NYSE:ALL – Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 4,335 shares of the insurance provider’s stock, valued at approximately $962,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Allstate during the second quarter worth $5,439,448,000. Bank of America Corp DE increased its position in shares of Allstate by 8.1% in the 1st quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock valued at $1,640,748,000 after acquiring an additional 596,321 shares during the period. GQG Partners LLC acquired a new position in shares of Allstate in the 2nd quarter valued at $1,245,710,000. Deutsche Bank AG purchased a new position in Allstate in the 2nd quarter worth $1,008,648,000. Finally, Dimensional Fund Advisors LP raised its stake in Allstate by 5.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,804,615 shares of the insurance provider’s stock worth $581,515,000 after acquiring an additional 154,259 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.
Insider Activity at Allstate
In related news, COO Mario Rizzo sold 56,225 shares of Allstate stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total value of $14,870,388.00. Following the completion of the transaction, the chief operating officer owned 82,227 shares in the company, valued at $21,747,396.96. The trade was a 40.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John E. Dugenske sold 32,996 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $269.33, for a total value of $8,886,812.68. Following the transaction, the insider directly owned 13,054 shares of the company’s stock, valued at approximately $3,515,833.82. The trade was a 71.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.55% of the company’s stock.
Allstate Trading Up 1.3%
NYSE ALL opened at $249.94 on Wednesday. The company has a market capitalization of $63.20 billion, a PE ratio of 4.99, a P/E/G ratio of 0.55 and a beta of 0.13. The company has a fifty day moving average of $246.08 and a 200 day moving average of $235.84. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $277.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36.
Allstate (NYSE:ALL – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, topping the consensus estimate of $6.06 by $2.93. The company had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period last year, the firm earned $5.94 EPS. Research analysts forecast that The Allstate Corporation will post 36.20 earnings per share for the current year.
Wall Street Analyst Weigh In
Several analysts have weighed in on ALL shares. Cantor Fitzgerald boosted their price target on Allstate from $236.00 to $242.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Citigroup reduced their price objective on Allstate from $240.00 to $215.00 and set a “sell” rating for the company in a research note on Friday, October 2nd. Bank of America lifted their target price on Allstate from $336.00 to $340.00 and gave the stock a “buy” rating in a report on Monday, October 12th. Morgan Stanley dropped their target price on Allstate from $265.00 to $240.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 6th. Finally, Barclays cut their price target on shares of Allstate from $226.00 to $221.00 and set an “underweight” rating on the stock in a report on Wednesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $270.19.
Get Our Latest Report on Allstate
Allstate Company Profile
Allstate Corp. (NYSE: ALL) is an insurance company that provides protection products and related services primarily in the United States. Its offerings include automobile, homeowners, renters, condominium, motorcycle and other personal property and casualty insurance, distributed through agents, brokers, direct channels and digital platforms.
The company also provides roadside assistance, identity-protection services and protection plans for consumer products. Through its acquisition of National General, Allstate expanded its presence in independent-agent distribution and specialty personal insurance.
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