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.
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%.
ILLEGAL ACTIVITY NOTICE: “Highbridge Capital Management LLC Purchases New Position in Allstate Corp (ALL)” was originally posted by Community Financial News and is the sole property of of Community Financial News. If you are viewing this piece of content on another website, it was stolen and republished in violation of U.S. and international trademark and copyright law. The original version of this piece of content can be viewed at https://www.com-unik.info/2017/12/14/highbridge-capital-management-llc-purchases-new-position-in-allstate-corp-all.html.
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.
What are top analysts saying about Allstate? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Allstate and related companies.