CoreCap Advisors LLC Lowers Position in The Allstate Corporation $ALL

CoreCap Advisors LLC trimmed its stake in shares of The Allstate Corporation (NYSE:ALL) by 96.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 650 shares of the insurance provider’s stock after selling 16,927 shares during the period. CoreCap Advisors LLC’s holdings in Allstate were worth $140,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Avantax Advisory Services Inc. increased its position in Allstate by 3.1% in the second quarter. Avantax Advisory Services Inc. now owns 23,573 shares of the insurance provider’s stock worth $4,745,000 after purchasing an additional 704 shares during the last quarter. Knights of Columbus Asset Advisors LLC increased its holdings in shares of Allstate by 3.8% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 53,802 shares of the insurance provider’s stock worth $10,831,000 after buying an additional 1,959 shares during the last quarter. Commonwealth Retirement Investments LLC raised its position in shares of Allstate by 103.5% during the 2nd quarter. Commonwealth Retirement Investments LLC now owns 12,960 shares of the insurance provider’s stock valued at $2,609,000 after buying an additional 6,590 shares in the last quarter. McGowan Group Asset Management Inc. lifted its holdings in shares of Allstate by 1,020.8% in the 2nd quarter. McGowan Group Asset Management Inc. now owns 34,666 shares of the insurance provider’s stock valued at $6,979,000 after acquiring an additional 31,573 shares during the last quarter. Finally, Davis Capital Management purchased a new position in Allstate in the third quarter worth about $2,767,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insider Buying and Selling

In other 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 transaction of $4,706,857.91. Following the transaction, the insider directly owned 100,646 shares of the company’s stock, valued at approximately $21,660,025.66. This trade represents a 17.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 48,400 shares of company stock valued at $10,313,256. 1.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ALL shares. Zacks Research downgraded Allstate from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th. The Goldman Sachs Group set a $227.00 price target on Allstate in a report on Wednesday, January 7th. Roth Capital lifted their price objective on shares of Allstate from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Wall Street Zen cut shares of Allstate from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Cowen downgraded shares of Allstate from a “buy” rating to a “hold” rating in a research note on Monday. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $236.13.

Allstate Price Performance

ALL opened at $197.68 on Wednesday. The business has a fifty day moving average of $207.74 and a 200 day moving average of $203.52. The stock has a market cap of $51.73 billion, a P/E ratio of 6.40, a PEG ratio of 0.46 and a beta of 0.24. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.32. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $215.89.

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

Allstate Dividend Announcement

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

Allstate Company 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.