Highbridge Capital Management LLC Purchases New Position in Allstate Corp (ALL)

Highbridge Capital Management LLC purchased a new position in shares of Allstate Corp (NYSE:ALL) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 43,949 shares of the insurance provider’s stock, valued at approximately $4,040,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in shares of Allstate by 1.5% during the 2nd quarter. BlackRock Inc. now owns 26,847,576 shares of the insurance provider’s stock worth $2,374,397,000 after acquiring an additional 389,249 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Allstate by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 24,213,610 shares of the insurance provider’s stock worth $2,141,452,000 after acquiring an additional 575,645 shares during the period. Northern Trust Corp lifted its holdings in shares of Allstate by 18.8% during the 2nd quarter. Northern Trust Corp now owns 7,202,273 shares of the insurance provider’s stock worth $636,969,000 after acquiring an additional 1,141,782 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Allstate by 11.1% during the 3rd quarter. Wells Fargo & Company MN now owns 5,178,889 shares of the insurance provider’s stock worth $475,991,000 after acquiring an additional 518,058 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in shares of Allstate by 2.8% during the 2nd quarter. Alliancebernstein L.P. now owns 4,605,659 shares of the insurance provider’s stock worth $407,324,000 after acquiring an additional 125,560 shares during the period. 76.65% of the stock is currently owned by institutional investors.

Several research analysts have recently weighed in on the stock. Wells Fargo & Company reiterated a “buy” rating on shares of Allstate in a report on Thursday, August 17th. Buckingham Research assumed coverage on shares of Allstate in a report on Monday, September 11th. They set an “underperform” rating and a $74.00 price objective on the stock. Zacks Investment Research upgraded shares of Allstate from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a report on Tuesday. B. Riley reiterated a “neutral” rating on shares of Allstate in a report on Monday, November 6th. Finally, BidaskClub lowered shares of Allstate from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $96.50.

In other news, EVP Susan L. Lees sold 4,000 shares of Allstate stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $100.49, for a total transaction of $401,960.00. Following the sale, the executive vice president now owns 24,341 shares in the company, valued at $2,446,027.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Suren Gupta sold 103,242 shares of Allstate stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $98.68, for a total transaction of $10,187,920.56. The disclosure for this sale can be found here. Insiders sold 432,242 shares of company stock worth $42,827,931 in the last 90 days. 1.58% of the stock is currently owned by insiders.

Allstate Corp (NYSE ALL) opened at $103.32 on Thursday. Allstate Corp has a 1-year low of $72.42 and a 1-year high of $104.18. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.26 and a quick ratio of 0.26. The company has a market cap of $37,152.84, a P/E ratio of 15.25, a P/E/G ratio of 1.99 and a beta of 1.12.

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 Thomson Reuters’ consensus estimate of $1.61 by ($0.01). Allstate had a net margin of 7.32% and a return on equity of 13.11%. The business had revenue of $8.12 billion during the quarter, compared to analysts’ expectations of $8.07 billion. During the same quarter in the previous year, the business posted $1.26 EPS. The company’s quarterly revenue was up 3.2% on a year-over-year basis. equities analysts expect that Allstate Corp 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. Investors of record on Thursday, November 30th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.48 annualized dividend and a yield of 1.43%. Allstate’s payout ratio is 20.56%.

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Allstate Profile

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.

Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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