The Allstate Corporation $ALL Shares Purchased by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC increased its stake in The Allstate Corporation (NYSE:ALL) by 144.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 83,266 shares of the insurance provider’s stock after acquiring an additional 49,200 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in Allstate were worth $17,873,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. raised its position in shares of Allstate by 79.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 55 shares during the last quarter. Barnes Dennig Private Wealth Management LLC boosted its holdings in Allstate by 112.3% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock worth $30,000 after buying an additional 73 shares during the last quarter. Clearstead Trust LLC increased its stake in Allstate by 3,800.0% during the 2nd quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock worth $31,000 after buying an additional 152 shares in the last quarter. Armstrong Advisory Group Inc. increased its stake in Allstate by 72.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider’s stock worth $34,000 after buying an additional 67 shares in the last quarter. Finally, South Plains Financial Inc. raised its holdings in shares of Allstate by 41.5% during the third quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 49 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Zacks Research raised Allstate from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 20th. Morgan Stanley restated an “equal weight” rating and issued a $215.00 price objective (down from $245.00) on shares of Allstate in a report on Tuesday, December 16th. Wells Fargo & Company lowered their target price on shares of Allstate from $228.00 to $227.00 and set an “equal weight” rating on the stock in a research note on Friday, February 20th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $260.00 target price on shares of Allstate in a report on Tuesday, March 3rd. Finally, Mizuho increased their target price on shares of Allstate from $255.00 to $281.00 and gave the company an “outperform” rating in a research report on Monday, February 9th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.88.

Insider Activity

In related news, insider Suren Gupta sold 19,593 shares of the business’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total value of $4,114,530.00. Following the sale, the insider directly owned 100,646 shares in the company, valued at approximately $21,135,660. The trade was a 16.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.70% of the company’s stock.

Allstate Trading Up 0.6%

Shares of ALL opened at $206.22 on Monday. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $216.75. The firm has a market capitalization of $53.52 billion, a P/E ratio of 5.40, a P/E/G ratio of 0.43 and a beta of 0.23. The firm has a 50-day moving average price of $204.52 and a 200 day moving average price of $204.71. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, beating the consensus estimate of $8.72 by $5.59. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The business had revenue of $17.35 billion during the quarter, compared to analysts’ expectations of $17.23 billion. During the same quarter in the prior year, the company posted $7.67 EPS. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. Sell-side analysts forecast that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be issued a dividend of $1.08 per share. The ex-dividend date is Monday, March 2nd. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.1%. This is a boost from Allstate’s previous quarterly dividend of $1.00. Allstate’s dividend payout ratio (DPR) is currently 11.31%.

Allstate Company 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.