The Allstate Co. (NYSE:ALL) Stake Boosted by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in The Allstate Co. (NYSE:ALL) by 36.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,857 shares of the insurance provider’s stock after acquiring an additional 757 shares during the quarter. GAMMA Investing LLC’s holdings in Allstate were worth $456,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp increased its stake in shares of Allstate by 1.8% during the 1st quarter. Bank of New York Mellon Corp now owns 5,112,468 shares of the insurance provider’s stock worth $884,508,000 after purchasing an additional 90,390 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Allstate by 0.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,629,870 shares of the insurance provider’s stock valued at $508,109,000 after buying an additional 27,766 shares in the last quarter. Norges Bank acquired a new stake in shares of Allstate in the fourth quarter worth about $212,771,000. Russell Investments Group Ltd. boosted its stake in shares of Allstate by 11.8% during the 1st quarter. Russell Investments Group Ltd. now owns 716,757 shares of the insurance provider’s stock worth $123,574,000 after acquiring an additional 75,698 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Allstate by 1.0% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 687,386 shares of the insurance provider’s stock worth $118,925,000 after acquiring an additional 6,760 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Price Performance

NYSE ALL traded down $0.56 during trading on Friday, reaching $176.82. 1,699,634 shares of the company traded hands, compared to its average volume of 1,456,058. The Allstate Co. has a 1-year low of $104.29 and a 1-year high of $180.87. The company has a market cap of $46.69 billion, a price-to-earnings ratio of 39.03, a P/E/G ratio of 1.86 and a beta of 0.48. The stock’s 50 day moving average price is $164.68 and its two-hundred day moving average price is $164.34. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating the consensus estimate of $0.33 by $1.28. The business had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.04 billion. Allstate had a return on equity of 24.05% and a net margin of 5.03%. Allstate’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($4.42) EPS. As a group, analysts anticipate that The Allstate Co. will post 13.64 EPS for the current year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 2.08%. The ex-dividend date is Friday, August 30th. Allstate’s dividend payout ratio is currently 81.24%.

Insider Buying and Selling at Allstate

In other news, insider Suren Gupta sold 45,775 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total value of $8,114,992.00. Following the transaction, the insider now directly owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ALL. Evercore ISI boosted their target price on Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. upped their price objective on shares of Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Roth Mkm upped their price target on shares of Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a report on Monday, April 8th. StockNews.com raised Allstate from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, BMO Capital Markets upgraded Allstate from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $190.00 to $191.00 in a report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $183.24.

Allstate Company Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.