TimesSquare Capital Management LLC Sells 83,815 Shares of The Allstate Corporation $ALL

TimesSquare Capital Management LLC reduced its holdings in shares of The Allstate Corporation (NYSE:ALL) by 23.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 272,438 shares of the insurance provider’s stock after selling 83,815 shares during the period. TimesSquare Capital Management LLC owned 0.10% of Allstate worth $58,479,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Guerra Pan Advisors LLC grew its stake in Allstate by 1.5% during the second quarter. Guerra Pan Advisors LLC now owns 3,426 shares of the insurance provider’s stock worth $690,000 after purchasing an additional 49 shares during the period. Focus Financial Network Inc. lifted its stake in Allstate by 1.1% in the third quarter. Focus Financial Network Inc. now owns 4,693 shares of the insurance provider’s stock valued at $1,012,000 after buying an additional 52 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of Allstate by 4.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,189 shares of the insurance provider’s stock worth $239,000 after buying an additional 53 shares in the last quarter. L2 Asset Management LLC grew its position in shares of Allstate by 4.8% during the 2nd quarter. L2 Asset Management LLC now owns 1,168 shares of the insurance provider’s stock worth $235,000 after buying an additional 53 shares during the period. Finally, Howard Capital Management Inc. increased its stake in shares of Allstate by 3.2% in the 3rd quarter. Howard Capital Management Inc. now owns 1,739 shares of the insurance provider’s stock valued at $373,000 after acquiring an additional 54 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Suren Gupta sold 19,593 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the transaction, the insider directly owned 100,646 shares of the company’s stock, valued at $21,135,660. This trade represents a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have sold 47,000 shares of company stock valued at $10,012,228. Corporate insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. The Goldman Sachs Group reissued a “buy” rating and set a $238.00 target price on shares of Allstate in a research note on Saturday, February 7th. Wall Street Zen cut shares of Allstate from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Keefe, Bruyette & Woods boosted their target price on Allstate from $254.00 to $260.00 and gave the company an “outperform” rating in a research report on Tuesday. UBS Group upped their price target on Allstate from $250.00 to $255.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Finally, JPMorgan Chase & Co. raised their price objective on Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.35.

Allstate Price Performance

ALL stock opened at $207.41 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.43 and a current ratio of 0.37. The business has a 50-day simple moving average of $203.54 and a two-hundred day simple moving average of $204.15. The company has a market capitalization of $54.28 billion, a P/E ratio of 5.43, a price-to-earnings-growth ratio of 0.44 and a beta of 0.23. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $216.75.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, beating analysts’ consensus estimates of $8.72 by $5.59. The company had revenue of $14.57 billion for the quarter, compared to analyst estimates of $17.23 billion. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the company earned $7.67 earnings per share. Research analysts expect that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be issued a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $4.32 dividend on an annualized basis and a yield of 2.1%. This is a positive change from Allstate’s previous quarterly dividend of $1.00. Allstate’s payout ratio is presently 10.47%.

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.