Grange Capital LLC Takes Position in The Allstate Corporation $ALL

Grange Capital LLC purchased a new position in The Allstate Corporation (NYSE:ALL) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 15,863 shares of the insurance provider’s stock, valued at approximately $3,405,000. Allstate accounts for about 3.3% of Grange Capital LLC’s portfolio, making the stock its 10th biggest position.

Several other large investors have also added to or reduced their stakes in the stock. Syon Capital LLC raised its holdings in Allstate by 22.8% in the 3rd quarter. Syon Capital LLC now owns 3,774 shares of the insurance provider’s stock worth $810,000 after purchasing an additional 701 shares in the last quarter. Advisors Capital Management LLC increased its position in shares of Allstate by 9.7% during the third quarter. Advisors Capital Management LLC now owns 1,615 shares of the insurance provider’s stock valued at $347,000 after buying an additional 143 shares during the period. Crestwood Advisors Group LLC raised its stake in Allstate by 12.2% in the third quarter. Crestwood Advisors Group LLC now owns 1,723 shares of the insurance provider’s stock worth $370,000 after buying an additional 187 shares in the last quarter. NEOS Investment Management LLC raised its stake in Allstate by 50.1% in the third quarter. NEOS Investment Management LLC now owns 25,905 shares of the insurance provider’s stock worth $5,561,000 after buying an additional 8,643 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its holdings in Allstate by 181.8% in the third quarter. GSA Capital Partners LLP now owns 5,621 shares of the insurance provider’s stock worth $1,207,000 after buying an additional 3,626 shares during the period. Institutional investors own 76.47% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ALL. Citigroup upped their target price on Allstate from $216.00 to $221.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. TD Cowen lowered Allstate from a “buy” rating to a “hold” rating in a research report on Monday, January 12th. Zacks Research downgraded Allstate from a “strong-buy” rating to a “hold” rating in a report on Friday, December 19th. Wells Fargo & Company raised their price objective on Allstate from $223.00 to $228.00 and gave the company an “equal weight” rating in a research report on Friday, February 6th. Finally, William Blair downgraded shares of Allstate from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 18th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $239.35.

Allstate Trading Up 2.3%

Allstate stock opened at $212.31 on Wednesday. The Allstate Corporation has a 12 month low of $176.00 and a 12 month high of $216.75. The company has a market capitalization of $55.56 billion, a price-to-earnings ratio of 5.56, a price-to-earnings-growth ratio of 0.44 and a beta of 0.23. The business’s fifty day simple moving average is $203.90 and its two-hundred day simple moving average is $204.36. The company has a current ratio of 0.37, a quick ratio of 0.43 and a debt-to-equity ratio of 0.26.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, beating the consensus estimate of $8.72 by $5.59. The firm had revenue of $14.57 billion during the quarter, compared to the consensus estimate 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 period last year, the company earned $7.67 earnings per share. As a group, equities analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be paid a $1.08 dividend. This is a boost from Allstate’s previous quarterly dividend of $1.00. This represents a $4.32 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, March 2nd. Allstate’s payout ratio is currently 11.31%.

Insiders Place Their Bets

In related news, insider Suren Gupta sold 21,871 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $215.21, for a total value of $4,706,857.91. Following the transaction, the insider directly owned 100,646 shares of the company’s stock, valued at approximately $21,660,025.66. This represents a 17.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 46,600 shares of company stock valued at $9,926,140. 1.70% of the stock is owned by insiders.

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.