Aspire Private Capital LLC Buys New Shares in The Allstate Corporation $ALL

Aspire Private Capital LLC bought a new position in shares of The Allstate Corporation (NYSE:ALL) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,514 shares of the insurance provider’s stock, valued at approximately $754,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Allstate in the 2nd quarter worth approximately $482,870,000. Swedbank AB increased its position in shares of Allstate by 2,157.8% during the third quarter. Swedbank AB now owns 861,725 shares of the insurance provider’s stock valued at $184,969,000 after purchasing an additional 823,559 shares during the period. Woodline Partners LP acquired a new position in shares of Allstate in the third quarter valued at $148,641,000. Ameriprise Financial Inc. lifted its position in Allstate by 52.7% in the second quarter. Ameriprise Financial Inc. now owns 1,385,901 shares of the insurance provider’s stock worth $279,062,000 after purchasing an additional 478,598 shares during the period. Finally, Danske Bank A S acquired a new stake in Allstate during the third quarter worth $100,596,000. 76.47% of the stock is currently owned by institutional investors.

Allstate Trading Down 0.2%

Shares of ALL stock opened at $207.32 on Wednesday. The stock has a market cap of $53.81 billion, a P/E ratio of 5.43, a price-to-earnings-growth ratio of 0.43 and a beta of 0.23. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $216.75. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26. The stock has a 50 day simple moving average of $204.57 and a 200 day simple moving average of $204.76.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 EPS for the quarter, topping analysts’ consensus estimates of $8.72 by $5.59. The firm had revenue of $17.35 billion for the quarter, compared to analyst estimates of $17.23 billion. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The company’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the company earned $7.67 EPS. On average, research analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be given a $1.08 dividend. The ex-dividend date is Monday, March 2nd. This is an increase from Allstate’s previous quarterly dividend of $1.00. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.1%. Allstate’s dividend payout ratio (DPR) is 11.31%.

Insider Buying and Selling

In related news, insider Suren Gupta sold 19,593 shares of the business’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total value of $4,114,530.00. Following the completion of the transaction, the insider owned 100,646 shares of the company’s stock, valued at $21,135,660. The trade was a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ALL shares. TD Cowen lowered shares of Allstate from a “buy” rating to a “hold” rating in a report on Monday, January 12th. Zacks Research upgraded shares of Allstate from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Allstate in a research note on Wednesday, January 21st. Mizuho increased their price target on shares of Allstate from $255.00 to $281.00 and gave the stock an “outperform” rating in a research report on Monday, February 9th. Finally, JPMorgan Chase & Co. raised their price target on shares of Allstate from $260.00 to $263.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $238.88.

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.