Caxton Associates LP bought a new stake in Allstate Corporation (The) (NYSE:ALL) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,600 shares of the insurance provider’s stock, valued at approximately $699,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of ALL. BlackRock Inc. lifted its position in shares of Allstate by 1.5% during the second quarter. BlackRock Inc. now owns 26,847,576 shares of the insurance provider’s stock worth $2,374,397,000 after purchasing an additional 389,249 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Allstate by 2.4% during the second quarter. Vanguard Group Inc. now owns 24,213,610 shares of the insurance provider’s stock worth $2,141,452,000 after buying an additional 575,645 shares during the period. Northern Trust Corp increased its stake in shares of Allstate by 18.8% during the second quarter. Northern Trust Corp now owns 7,202,273 shares of the insurance provider’s stock worth $636,969,000 after buying an additional 1,141,782 shares during the period. Wells Fargo & Company MN increased its stake in shares of Allstate by 11.1% during the third quarter. Wells Fargo & Company MN now owns 5,178,889 shares of the insurance provider’s stock worth $475,991,000 after buying an additional 518,058 shares during the period. Finally, Alliancebernstein L.P. increased its stake in shares of Allstate by 2.8% during the second quarter. Alliancebernstein L.P. now owns 4,605,659 shares of the insurance provider’s stock worth $407,324,000 after buying an additional 125,560 shares during the period. 76.65% of the stock is currently owned by institutional investors.
ALL has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Allstate from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. UBS raised their target price on shares of Allstate from $93.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, November 6th. Citigroup lowered their target price on shares of Allstate from $107.00 to $106.00 and set a “buy” rating on the stock in a research report on Monday, October 2nd. Goldman Sachs Group began coverage on Allstate in a report on Monday, December 4th. They set a “neutral” rating and a $104.00 price target for the company. Finally, Credit Suisse Group increased their price target on Allstate from $91.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $95.08.
Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, November 1st. The insurance provider reported $1.60 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.01). The business had revenue of $8.12 billion during the quarter, compared to analysts’ expectations of $8.07 billion. Allstate had a net margin of 7.32% and a return on equity of 13.11%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.26 EPS. equities research analysts predict that Allstate Corporation will post 6.23 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Thursday, November 30th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Wednesday, November 29th. Allstate’s dividend payout ratio (DPR) is 20.56%.
In related news, insider Suren Gupta sold 103,242 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $98.68, for a total transaction of $10,187,920.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Thomas J. Wilson sold 130,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $99.29, for a total value of $12,907,700.00. The disclosure for this sale can be found here. Insiders sold a total of 432,242 shares of company stock valued at $42,827,931 in the last 90 days. 1.50% of the stock is owned by company insiders.
The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.
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