The Allstate Co. (NYSE:ALL) Shares Purchased by Ascent Group LLC

Ascent Group LLC boosted its stake in The Allstate Co. (NYSE:ALL) by 6.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 4,618 shares of the insurance provider’s stock after purchasing an additional 266 shares during the period. Ascent Group LLC’s holdings in Allstate were worth $799,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. First Sabrepoint Capital Management LP purchased a new stake in shares of Allstate during the 1st quarter worth $2,595,000. Manhattan West Asset Management LLC acquired a new position in shares of Allstate during the first quarter worth about $344,000. Quadrature Capital Ltd grew its position in Allstate by 5.6% during the first quarter. Quadrature Capital Ltd now owns 49,129 shares of the insurance provider’s stock worth $8,500,000 after buying an additional 2,612 shares during the period. Canada Pension Plan Investment Board grew its position in Allstate by 97.5% during the first quarter. Canada Pension Plan Investment Board now owns 271,464 shares of the insurance provider’s stock worth $46,966,000 after buying an additional 134,028 shares during the period. Finally, Atalanta Sosnoff Capital LLC acquired a new position in Allstate during the first quarter worth about $43,909,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Trading Up 2.5 %

Shares of ALL traded up $4.22 during midday trading on Tuesday, hitting $173.45. The stock had a trading volume of 321,566 shares, compared to its average volume of 1,562,573. The Allstate Co. has a fifty-two week low of $104.29 and a fifty-two week high of $179.93. The business has a 50-day simple moving average of $163.97 and a two-hundred day simple moving average of $163.68. The firm has a market cap of $45.78 billion, a P/E ratio of 37.37, a price-to-earnings-growth ratio of 1.77 and a beta of 0.48. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48.

Allstate (NYSE:ALL) last announced its earnings results on Thursday, May 2nd. The insurance provider reported $5.13 EPS for the quarter, topping the consensus estimate of $4.11 by $1.02. The company had revenue of $15.26 billion during the quarter, compared to analysts’ expectations of $12.76 billion. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the company posted ($1.30) earnings per share. As a group, equities analysts forecast that The Allstate Co. will post 13.64 EPS for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Friday, August 30th. Allstate’s dividend payout ratio is currently 81.24%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ALL shares. JPMorgan Chase & Co. upped their price target on shares of Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $194.00 price objective on shares of Allstate in a research report on Friday, July 5th. StockNews.com lowered shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Monday, June 3rd. Morgan Stanley lowered their price target on shares of Allstate from $205.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Finally, Evercore ISI raised their price target on shares of Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $178.06.

Insider Buying and Selling

In related news, insider Suren Gupta sold 45,775 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the completion of the sale, the insider now directly owns 89,930 shares in the company, valued at $15,942,790.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Allstate Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.