Caprock Group LLC Takes $3.60 Million Position in The Allstate Corporation $ALL

Caprock Group LLC purchased a new position in shares of The Allstate Corporation (NYSE:ALL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,598 shares of the insurance provider’s stock, valued at approximately $3,598,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. grew its holdings in Allstate by 79.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 55 shares in the last quarter. Barnes Dennig Private Wealth Management LLC lifted its position in shares of Allstate by 112.3% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 73 shares during the last quarter. Clearstead Trust LLC grew its stake in Allstate by 3,800.0% in the second quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 152 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Allstate by 315.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock valued at $33,000 after buying an additional 126 shares during the last quarter. Finally, Armstrong Advisory Group Inc. raised its stake in Allstate by 72.0% during the third quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider’s stock valued at $34,000 after buying an additional 67 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ALL shares. Wall Street Zen lowered Allstate from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. JPMorgan Chase & Co. boosted their target price on shares of Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Cantor Fitzgerald reissued a “neutral” rating and set a $220.00 target price on shares of Allstate in a report on Thursday, February 5th. Wells Fargo & Company raised their price target on shares of Allstate from $223.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday, February 6th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allstate in a research report on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Allstate has an average rating of “Moderate Buy” and a consensus target price of $239.35.

Insider Activity

In other news, insider Suren Gupta sold 21,871 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 48,400 shares of company stock valued at $10,313,256 over the last ninety days. Corporate insiders own 1.70% of the company’s stock.

Allstate Trading Up 1.7%

Allstate stock opened at $204.54 on Thursday. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $216.75. The company has a quick ratio of 0.43, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $53.52 billion, a price-to-earnings ratio of 5.36, a PEG ratio of 0.43 and a beta of 0.23. The firm has a 50-day moving average price of $203.43 and a two-hundred day moving average price of $203.96.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, beating analysts’ consensus estimates of $8.72 by $5.59. The company had revenue of $14.57 billion for the quarter, compared to analysts’ expectations of $17.23 billion. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.67 earnings per share. Sell-side analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be given a dividend of $1.08 per share. This is a boost from Allstate’s previous quarterly dividend of $1.00. The ex-dividend date is Monday, March 2nd. This represents a $4.32 dividend on an annualized basis and a yield of 2.1%. Allstate’s payout ratio is presently 10.47%.

About Allstate

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.