Golden State Equity Partners Invests $767,000 in The Allstate Co. (NYSE:ALL)

Golden State Equity Partners acquired a new position in The Allstate Co. (NYSE:ALLGet Rating) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 5,534 shares of the insurance provider’s stock, valued at approximately $767,000.

Other hedge funds also recently made changes to their positions in the company. Private Trust Co. NA increased its position in shares of Allstate by 6.5% in the first quarter. Private Trust Co. NA now owns 4,819 shares of the insurance provider’s stock worth $667,000 after acquiring an additional 293 shares in the last quarter. Carnegie Capital Asset Management LLC purchased a new position in shares of Allstate in the first quarter worth approximately $203,000. Zullo Investment Group Inc. increased its position in shares of Allstate by 13.1% in the first quarter. Zullo Investment Group Inc. now owns 1,725 shares of the insurance provider’s stock worth $239,000 after acquiring an additional 200 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Allstate by 136.6% in the first quarter. Acadian Asset Management LLC now owns 23,017 shares of the insurance provider’s stock worth $3,186,000 after acquiring an additional 13,289 shares in the last quarter. Finally, Tobam increased its position in shares of Allstate by 46.5% in the first quarter. Tobam now owns 1,465 shares of the insurance provider’s stock worth $203,000 after acquiring an additional 465 shares in the last quarter. Institutional investors and hedge funds own 76.17% of the company’s stock.

Insider Activity

In other news, EVP Mark Q. Prindiville sold 5,511 shares of Allstate stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $125.93, for a total value of $694,000.23. Following the transaction, the executive vice president now owns 15,552 shares of the company’s stock, valued at $1,958,463.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ALL shares. TheStreet downgraded shares of Allstate from a “b” rating to a “c+” rating in a research report on Wednesday, August 3rd. Morgan Stanley decreased their price target on shares of Allstate from $152.00 to $139.00 and set an “equal weight” rating for the company in a report on Monday, May 23rd. Argus cut shares of Allstate from a “buy” rating to a “hold” rating in a report on Friday, May 20th. Evercore ISI raised their price target on shares of Allstate to $126.00 in a report on Tuesday, August 9th. Finally, Wells Fargo & Company decreased their price target on shares of Allstate from $116.00 to $110.00 and set an “underweight” rating for the company in a report on Thursday, July 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $142.00.

Allstate Price Performance

NYSE ALL opened at $122.54 on Wednesday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $33.12 billion, a PE ratio of 42.70, a price-to-earnings-growth ratio of 4.28 and a beta of 0.71. The company has a 50 day moving average price of $123.22 and a two-hundred day moving average price of $128.21. The Allstate Co. has a 12-month low of $106.11 and a 12-month high of $144.46.

Allstate (NYSE:ALLGet Rating) last released its quarterly earnings results on Wednesday, August 3rd. The insurance provider reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates of ($1.26) by $0.50. Allstate had a net margin of 1.99% and a return on equity of 7.53%. The company had revenue of $12.95 billion for the quarter, compared to analyst estimates of $12.16 billion. During the same quarter last year, the firm posted $3.79 earnings per share. As a group, equities analysts predict that The Allstate Co. will post 4.79 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Wednesday, August 31st will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Tuesday, August 30th. Allstate’s dividend payout ratio is 118.47%.

Allstate Company Profile

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The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home and stand-alone scheduled personal property; and commercial lines products under the Allstate and Encompass brand names.

See Also

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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