Tower Research Capital LLC TRC lowered its stake in Allstate Corp (NYSE:ALL) by 35.0% in the third quarter, Holdings Channel reports. The institutional investor owned 6,579 shares of the insurance provider’s stock after selling 3,537 shares during the period. Tower Research Capital LLC TRC’s holdings in Allstate were worth $649,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Migdal Insurance & Financial Holdings Ltd. grew its stake in Allstate by 8,404.2% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,041 shares of the insurance provider’s stock valued at $186,000 after purchasing an additional 2,017 shares in the last quarter. D.A. Davidson & CO. boosted its stake in shares of Allstate by 9.1% during the 2nd quarter. D.A. Davidson & CO. now owns 23,963 shares of the insurance provider’s stock worth $2,187,000 after acquiring an additional 1,997 shares during the period. Sigma Planning Corp boosted its stake in shares of Allstate by 28.6% during the 2nd quarter. Sigma Planning Corp now owns 7,960 shares of the insurance provider’s stock worth $727,000 after acquiring an additional 1,768 shares during the period. Global Financial Private Capital LLC bought a new position in shares of Allstate during the 2nd quarter worth approximately $464,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Allstate during the 2nd quarter worth approximately $3,358,000. 77.15% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently commented on the company. Zacks Investment Research downgraded Allstate from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 13th. ValuEngine upgraded Allstate from a “sell” rating to a “hold” rating in a research note on Saturday, September 1st. Citigroup set a $115.00 target price on Allstate and gave the stock a “buy” rating in a research note on Friday, October 12th. Credit Suisse Group reduced their target price on Allstate from $114.00 to $112.00 and set a “buy” rating for the company in a research note on Tuesday, August 28th. Finally, Wells Fargo & Co reiterated a “hold” rating on shares of Allstate in a research note on Thursday, August 16th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Allstate presently has a consensus rating of “Hold” and a consensus target price of $102.82.
NYSE:ALL opened at $83.81 on Friday. The company has a market cap of $29.31 billion, a P/E ratio of 12.49, a PEG ratio of 1.14 and a beta of 0.85. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.30. Allstate Corp has a 1-year low of $83.33 and a 1-year high of $105.36.
Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, October 31st. The insurance provider reported $1.93 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.21 by ($0.28). The firm had revenue of $8.60 billion for the quarter, compared to analyst estimates of $8.51 billion. Allstate had a return on equity of 15.48% and a net margin of 9.38%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.60 earnings per share. As a group, equities research analysts forecast that Allstate Corp will post 8.92 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Friday, November 30th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.84 annualized dividend and a yield of 2.20%. Allstate’s payout ratio is currently 27.42%.
In other Allstate news, EVP Harriet K. Harty sold 10,515 shares of Allstate stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $98.87, for a total value of $1,039,618.05. Following the completion of the transaction, the executive vice president now directly owns 14,606 shares of the company’s stock, valued at approximately $1,444,095.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jesse E. Merten sold 696 shares of Allstate stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $92.12, for a total value of $64,115.52. Following the completion of the transaction, the executive vice president now directly owns 2,102 shares of the company’s stock, valued at $193,636.24. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
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The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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