CSat Investment Advisory L.P. acquired a new stake in shares of Allstate Corp (NYSE:ALL) during the 2nd quarter, Holdings Channel reports. The fund acquired 4,653 shares of the insurance provider’s stock, valued at approximately $425,000.
Other institutional investors have also recently bought and sold shares of the company. 6 Meridian boosted its position in Allstate by 46.4% during the 1st quarter. 6 Meridian now owns 238,859 shares of the insurance provider’s stock valued at $22,644,000 after acquiring an additional 75,757 shares in the last quarter. Reliance Trust Co. of Delaware boosted its position in Allstate by 8.6% during the 2nd quarter. Reliance Trust Co. of Delaware now owns 7,277 shares of the insurance provider’s stock valued at $664,000 after acquiring an additional 575 shares in the last quarter. OppenheimerFunds Inc. boosted its position in Allstate by 7.4% during the 1st quarter. OppenheimerFunds Inc. now owns 522,045 shares of the insurance provider’s stock valued at $49,490,000 after acquiring an additional 35,921 shares in the last quarter. Gideon Capital Advisors Inc. bought a new stake in Allstate during the 1st quarter valued at approximately $617,000. Finally, Sei Investments Co. boosted its position in Allstate by 406.4% during the 2nd quarter. Sei Investments Co. now owns 363,046 shares of the insurance provider’s stock valued at $33,136,000 after acquiring an additional 291,352 shares in the last quarter. 76.24% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Susan L. Lees sold 22,189 shares of the business’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $99.24, for a total value of $2,202,036.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Glenn T. Shapiro sold 21,728 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $98.70, for a total transaction of $2,144,553.60. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.
ALL has been the topic of a number of analyst reports. ValuEngine raised Allstate from a “sell” rating to a “hold” rating in a research report on Saturday, September 1st. Buckingham Research raised Allstate from an “underperform” rating to a “neutral” rating and set a $88.00 price target on the stock in a research report on Wednesday, July 18th. Citigroup dropped their price target on Allstate from $108.00 to $107.00 and set a “buy” rating on the stock in a research report on Friday, July 20th. Zacks Investment Research cut Allstate from a “buy” rating to a “hold” rating in a research report on Tuesday, June 19th. Finally, B. Riley boosted their price target on Allstate from $84.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, July 16th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Allstate currently has an average rating of “Hold” and an average target price of $103.92.
Shares of ALL opened at $101.40 on Thursday. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.31. Allstate Corp has a 52 week low of $85.59 and a 52 week high of $105.36. The company has a market capitalization of $34.82 billion, a PE ratio of 11.76, a P/E/G ratio of 1.28 and a beta of 0.92.
Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, August 1st. The insurance provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.45. Allstate had a return on equity of 15.21% and a net margin of 9.06%. The firm had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.53 billion. During the same period in the previous year, the firm posted $1.38 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. analysts forecast that Allstate Corp will post 9.43 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, August 31st will be issued a $0.46 dividend. The ex-dividend date is Thursday, August 30th. This represents a $1.84 dividend on an annualized basis and a yield of 1.81%. Allstate’s payout ratio is currently 27.42%.
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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