Cinctive Capital Management LP Invests $3.12 Million in The Allstate Co. (NYSE:ALL)

Cinctive Capital Management LP purchased a new stake in shares of The Allstate Co. (NYSE:ALL) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 16,450 shares of the insurance provider’s stock, valued at approximately $3,120,000.

Other institutional investors have also added to or reduced their stakes in the company. BDF Gestion bought a new position in shares of Allstate during the 2nd quarter valued at approximately $3,051,000. OFI Invest Asset Management bought a new stake in shares of Allstate in the 2nd quarter worth about $476,000. Diversified Trust Co raised its position in shares of Allstate by 505.3% during the 2nd quarter. Diversified Trust Co now owns 7,923 shares of the insurance provider’s stock valued at $1,265,000 after buying an additional 6,614 shares in the last quarter. Eagle Asset Management Inc. lifted its holdings in shares of Allstate by 38.0% in the 3rd quarter. Eagle Asset Management Inc. now owns 10,497 shares of the insurance provider’s stock valued at $2,067,000 after acquiring an additional 2,888 shares during the last quarter. Finally, Cetera Investment Advisers grew its position in Allstate by 351.6% in the first quarter. Cetera Investment Advisers now owns 65,221 shares of the insurance provider’s stock worth $11,284,000 after acquiring an additional 50,780 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insider Transactions at Allstate

In other news, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction on Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the transaction, the insider now directly owns 27,364 shares in the company, valued at approximately $5,236,922.32. This trade represents a 57.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Allstate Stock Down 1.4 %

Shares of NYSE ALL opened at $204.39 on Tuesday. The stock has a 50 day moving average price of $193.02 and a 200 day moving average price of $179.19. The firm has a market capitalization of $54.12 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 1.82 and a beta of 0.48. The Allstate Co. has a 52-week low of $134.17 and a 52-week high of $209.88. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. The business had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The business’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.81 EPS. Sell-side analysts expect that The Allstate Co. will post 16.26 earnings per share for the current year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be issued a $0.92 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.68 annualized dividend and a dividend yield of 1.80%. Allstate’s dividend payout ratio is currently 23.83%.

Analysts Set New Price Targets

ALL has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price objective on Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods increased their price target on Allstate from $222.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. The Goldman Sachs Group lifted their price objective on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Jefferies Financial Group increased their target price on shares of Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, TD Cowen lifted their price target on shares of Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and an average target price of $217.19.

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.