The Allstate Co. (NYSE:ALL) Shares Bought by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC grew its position in shares of The Allstate Co. (NYSE:ALL) by 11.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,137 shares of the insurance provider’s stock after acquiring an additional 608 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Allstate were worth $980,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Allstate in the fourth quarter valued at about $212,771,000. Palestra Capital Management LLC acquired a new stake in shares of Allstate in the fourth quarter valued at about $83,561,000. Balyasny Asset Management L.P. acquired a new stake in Allstate during the 4th quarter valued at approximately $81,571,000. Artemis Investment Management LLP acquired a new stake in Allstate during the 1st quarter valued at approximately $95,764,000. Finally, Mizuho Markets Americas LLC acquired a new stake in Allstate during the 4th quarter valued at approximately $52,042,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Allstate news, insider Suren Gupta sold 45,775 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 89,930 shares of the company’s stock, valued at $15,942,790.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.80% of the company’s stock.

Allstate Stock Down 4.1 %

Shares of Allstate stock traded down $7.24 during midday trading on Monday, hitting $169.58. The company’s stock had a trading volume of 809,848 shares, compared to its average volume of 1,567,594. The firm has a market capitalization of $44.78 billion, a P/E ratio of 39.03, a PEG ratio of 1.86 and a beta of 0.48. The stock has a 50-day simple moving average of $164.68 and a 200-day simple moving average of $164.34. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49. The Allstate Co. has a 1-year low of $104.29 and a 1-year high of $180.87.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, topping the consensus estimate of $0.33 by $1.28. The business had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a return on equity of 24.05% and a net margin of 5.03%. Allstate’s revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($4.42) earnings per share. As a group, sell-side analysts expect that The Allstate Co. will post 13.64 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be given a $0.92 dividend. The ex-dividend date is Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.17%. Allstate’s dividend payout ratio is currently 81.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ALL shares. BMO Capital Markets raised their price objective on Allstate from $191.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday. Bank of America increased their target price on Allstate from $213.00 to $226.00 and gave the stock a “buy” rating in a report on Thursday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $194.00 target price on shares of Allstate in a report on Friday, July 5th. StockNews.com raised Allstate from a “buy” rating to a “strong-buy” rating in a report on Thursday. Finally, The Goldman Sachs Group increased their target price on Allstate from $197.00 to $199.00 and gave the stock a “buy” rating in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and a consensus price target of $184.06.

About Allstate

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.