12,891 Shares in The Allstate Corporation $ALL Bought by Davis Capital Management

Davis Capital Management purchased a new stake in shares of The Allstate Corporation (NYSE:ALL) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,891 shares of the insurance provider’s stock, valued at approximately $2,767,000. Allstate accounts for approximately 1.9% of Davis Capital Management’s portfolio, making the stock its 9th largest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Avantax Advisory Services Inc. raised its holdings in Allstate by 3.1% in the 2nd quarter. Avantax Advisory Services Inc. now owns 23,573 shares of the insurance provider’s stock valued at $4,745,000 after acquiring an additional 704 shares in the last quarter. Knights of Columbus Asset Advisors LLC increased its position in shares of Allstate by 3.8% during the second quarter. Knights of Columbus Asset Advisors LLC now owns 53,802 shares of the insurance provider’s stock valued at $10,831,000 after purchasing an additional 1,959 shares during the period. Commonwealth Retirement Investments LLC raised its stake in shares of Allstate by 103.5% in the second quarter. Commonwealth Retirement Investments LLC now owns 12,960 shares of the insurance provider’s stock valued at $2,609,000 after purchasing an additional 6,590 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new position in Allstate in the first quarter worth $22,405,000. Finally, McGowan Group Asset Management Inc. boosted its stake in Allstate by 1,020.8% during the second quarter. McGowan Group Asset Management Inc. now owns 34,666 shares of the insurance provider’s stock worth $6,979,000 after buying an additional 31,573 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ALL shares. Weiss Ratings restated a “buy (b)” rating on shares of Allstate in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods increased their price target on shares of Allstate from $246.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 11th. Wall Street Zen downgraded Allstate from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Mizuho began coverage on Allstate in a report on Monday, December 15th. They issued an “outperform” rating and a $254.00 target price for the company. Finally, Morgan Stanley restated an “equal weight” rating and set a $215.00 target price (down previously from $245.00) on shares of Allstate in a research report on Tuesday, December 16th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $236.93.

Insider Activity

In related news, insider Suren Gupta sold 21,871 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $215.21, for a total value of $4,706,857.91. Following the completion of the sale, the insider owned 100,646 shares of the company’s stock, valued at $21,660,025.66. This trade represents a 17.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 28,807 shares of company stock worth $6,198,726 in the last quarter. 1.70% of the stock is currently owned by corporate insiders.

Allstate Stock Down 2.2%

Shares of ALL opened at $203.62 on Friday. The company has a market capitalization of $53.28 billion, a P/E ratio of 6.59, a PEG ratio of 0.45 and a beta of 0.24. The Allstate Corporation has a one year low of $176.00 and a one year high of $215.89. The business’s 50 day simple moving average is $205.61 and its 200-day simple moving average is $202.88. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.43 and a quick ratio of 0.43.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $11.17 EPS for the quarter, topping analysts’ consensus estimates of $5.48 by $5.69. Allstate had a return on equity of 35.42% and a net margin of 12.53%.The company had revenue of $17.26 billion for the quarter, compared to analyst estimates of $16.59 billion. During the same quarter in the previous year, the firm earned $3.91 earnings per share. The business’s revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts predict that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Monday, December 1st. Allstate’s dividend payout ratio is presently 12.95%.

Allstate Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.