TimesSquare Capital Management LLC Decreases Stock Holdings in The Allstate Corporation $ALL

TimesSquare Capital Management LLC reduced its holdings in shares of The Allstate Corporation (NYSE:ALL) by 23.5% during the third quarter, according to its most recent Form 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 quarter. TimesSquare Capital Management LLC’s holdings in Allstate were worth $58,479,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Guerra Pan Advisors LLC raised its stake in shares of Allstate by 1.5% during the 2nd 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. increased its holdings in Allstate by 1.1% during the third quarter. Focus Financial Network Inc. now owns 4,693 shares of the insurance provider’s stock worth $1,012,000 after buying an additional 52 shares during the last quarter. Parkside Financial Bank & Trust raised its position in Allstate by 4.7% in the second quarter. Parkside Financial Bank & Trust now owns 1,189 shares of the insurance provider’s stock worth $239,000 after acquiring an additional 53 shares during the period. L2 Asset Management LLC boosted its stake in Allstate by 4.8% in the second quarter. L2 Asset Management LLC now owns 1,168 shares of the insurance provider’s stock valued at $235,000 after acquiring an additional 53 shares during the last quarter. Finally, Howard Capital Management Inc. grew its position in shares of Allstate by 3.2% during 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 during the period. Institutional investors own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

ALL has been the topic of a number of research reports. UBS Group lifted their price target on shares of Allstate from $250.00 to $255.00 and gave the stock a “buy” rating in a report on Monday, November 10th. TD Cowen downgraded Allstate from a “buy” rating to a “hold” rating in a research report on Monday, January 12th. Evercore set a $225.00 price target on Allstate in a research report on Wednesday, January 7th. Zacks Research downgraded Allstate from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 19th. Finally, BMO Capital Markets boosted their price objective on Allstate from $235.00 to $244.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $239.35.

Insiders Place Their Bets

In other Allstate news, insider Suren Gupta sold 19,593 shares of the firm’s stock in a transaction on 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 completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have sold 47,000 shares of company stock worth $10,012,228. Corporate insiders own 1.70% of the company’s stock.

Allstate Price Performance

Allstate stock opened at $207.41 on Friday. The firm has a market capitalization of $54.28 billion, a P/E ratio of 5.43, a PEG ratio of 0.44 and a beta of 0.23. The Allstate Corporation has a one year low of $176.00 and a one year high of $216.75. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.43. The business has a fifty day moving average price of $203.54 and a 200-day moving average price of $204.15.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.72 by $5.59. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The business had revenue of $14.57 billion for the quarter, compared to analysts’ expectations of $17.23 billion. During the same quarter in the prior year, the firm posted $7.67 EPS. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts forecast that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Increases Dividend

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