The Allstate Co. (NYSE:ALL) Shares Purchased by Stevens Capital Management LP

Stevens Capital Management LP increased its stake in shares of The Allstate Co. (NYSE:ALL) by 6.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 5,584 shares of the insurance provider’s stock after purchasing an additional 358 shares during the period. Stevens Capital Management LP’s holdings in The Allstate were worth $728,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC acquired a new position in The Allstate during the 2nd quarter worth approximately $32,000. Heritage Wealth Management LLC lifted its position in The Allstate by 88.9% during the 2nd quarter. Heritage Wealth Management LLC now owns 255 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 120 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in The Allstate during the 2nd quarter worth approximately $35,000. Trustcore Financial Services LLC lifted its position in The Allstate by 150.5% during the 2nd quarter. Trustcore Financial Services LLC now owns 273 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 164 shares in the last quarter. Finally, Burleson & Company LLC acquired a new position in The Allstate during the 1st quarter worth approximately $35,000. 75.00% of the stock is currently owned by hedge funds and other institutional investors.

ALL stock traded up $0.87 during midday trading on Monday, hitting $131.37. 7,038 shares of the company’s stock were exchanged, compared to its average volume of 1,807,320. The stock’s fifty day moving average price is $132.45 and its 200-day moving average price is $129.05. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.45 and a current ratio of 0.45. The company has a market cap of $38.84 billion, a PE ratio of 10.28, a price-to-earnings-growth ratio of 1.09 and a beta of 0.86. The Allstate Co. has a one year low of $86.51 and a one year high of $140.00.

The Allstate (NYSE:ALL) last issued its quarterly earnings results on Tuesday, August 3rd. The insurance provider reported $3.79 EPS for the quarter, beating analysts’ consensus estimates of $3.17 by $0.62. The company had revenue of $10.44 billion for the quarter, compared to analyst estimates of $10.57 billion. The Allstate had a return on equity of 22.27% and a net margin of 8.27%. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.46 earnings per share. On average, analysts expect that The Allstate Co. will post 16.02 EPS for the current year.

The Allstate announced that its board has initiated a stock repurchase program on Wednesday, August 4th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to buy up to 13% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Tuesday, August 31st will be issued a $0.81 dividend. The ex-dividend date of this dividend is Monday, August 30th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.47%. The Allstate’s dividend payout ratio (DPR) is 22.00%.

A number of equities analysts have issued reports on ALL shares. Piper Sandler upped their target price on The Allstate from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, June 3rd. They noted that the move was a valuation call. Morgan Stanley upped their price objective on The Allstate from $140.00 to $144.00 and gave the stock an “equal weight” rating in a research note on Monday, August 16th. UBS Group increased their price target on The Allstate from $118.00 to $139.00 and gave the stock a “neutral” rating in a research note on Friday, July 9th. Wolfe Research began coverage on The Allstate in a research note on Monday, August 16th. They set a “peer perform” rating and a $130.00 price objective for the company. Finally, Barclays lifted their price objective on The Allstate from $144.00 to $147.00 and gave the stock an “overweight” rating in a research note on Friday, August 6th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, The Allstate presently has an average rating of “Hold” and a consensus target price of $140.62.

About The Allstate

The Allstate Corp. engages in the property and casualty insurance business and the sale of life, accident, and health insurance products through its subsidiaries. It operates through following business segments: Allstate Protection, Protection Services, Allstate Life, Allstate Benefits, Allstate Annuities, Discontinued Lines and Coverages, and Corporate and Other.

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Institutional Ownership by Quarter for The Allstate (NYSE:ALL)

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