Coastal Bridge Advisors LLC Invests $4.25 Million in The Allstate Corporation $ALL

Coastal Bridge Advisors LLC acquired a new position in The Allstate Corporation (NYSE:ALL) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 17,851 shares of the insurance provider’s stock, valued at approximately $4,248,000.

Other large investors have also recently added to or reduced their stakes in the company. Strategic Global Advisors LLC acquired a new stake in shares of Allstate during the second quarter valued at $11,680,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Allstate by 5.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552,120 shares of the insurance provider’s stock worth $112,533,000 after purchasing an additional 26,586 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in shares of Allstate during the second quarter worth about $6,861,000. Elevation Point Wealth Partners LLC raised its position in shares of Allstate by 130.9% in the first quarter. Elevation Point Wealth Partners LLC now owns 19,288 shares of the insurance provider’s stock valued at $4,016,000 after buying an additional 10,936 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Allstate by 8.1% during the first quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock valued at $1,640,748,000 after buying an additional 596,321 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Allstate

In other Allstate news, COO Mario Rizzo sold 56,225 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the completion of the sale, the chief operating officer owned 82,227 shares of the company’s stock, valued at approximately $21,747,396.96. The trade was a 40.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John E. Dugenske sold 32,996 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $269.33, for a total value of $8,886,812.68. Following the sale, the insider owned 13,054 shares of the company’s stock, valued at $3,515,833.82. This represents a 71.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 91,446 shares of company stock worth $24,208,675. 1.55% of the stock is owned by insiders.

Allstate Stock Performance

Shares of ALL stock opened at $257.24 on Friday. The Allstate Corporation has a one year low of $188.08 and a one year high of $277.22. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.36 and a current ratio of 0.36. The company has a 50 day moving average price of $253.33 and a 200 day moving average price of $226.56. The firm has a market capitalization of $65.05 billion, a price-to-earnings ratio of 5.14, a price-to-earnings-growth ratio of 0.40 and a beta of 0.16.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, topping analysts’ consensus estimates of $6.06 by $2.93. The company had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. During the same quarter last year, the firm posted $5.94 earnings per share. Allstate’s revenue was up 11.8% on a year-over-year basis. Sell-side analysts anticipate that The Allstate Corporation will post 34.45 EPS for the current year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be given a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, August 31st. Allstate’s dividend payout ratio (DPR) is 8.63%.

Wall Street Analyst Weigh In

ALL has been the topic of a number of analyst reports. Raymond James Financial restated a “strong-buy” rating and set a $315.00 target price on shares of Allstate in a research report on Tuesday, August 11th. HSBC lowered Allstate from a “buy” rating to a “hold” rating and increased their price target for the stock from $244.00 to $264.00 in a research note on Monday, July 6th. Cantor Fitzgerald raised their price objective on Allstate from $236.00 to $242.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Wall Street Zen raised Allstate from a “hold” rating to a “buy” rating in a research report on Monday, July 20th. Finally, Atlantic Securities set a $319.00 target price on Allstate in a research report on Wednesday, July 15th. Four equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $265.26.

Allstate Profile

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.