Lighthouse Investment Partners LLC Increases Position in The Allstate Corporation $ALL

Lighthouse Investment Partners LLC raised its position in shares of The Allstate Corporation (NYSE:ALL) by 144.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 83,266 shares of the insurance provider’s stock after buying an additional 49,200 shares during the period. Lighthouse Investment Partners LLC’s holdings in Allstate were worth $17,873,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ALL. Guerra Pan Advisors LLC increased 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. South Plains Financial Inc. grew its holdings in shares of Allstate by 41.5% in the third quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 49 shares in the last quarter. Humankind Investments LLC grew its holdings in shares of Allstate by 4.5% in the third quarter. Humankind Investments LLC now owns 1,191 shares of the insurance provider’s stock valued at $256,000 after purchasing an additional 51 shares in the last quarter. Focus Financial Network Inc. increased its stake in Allstate by 1.1% during the 3rd 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 period. Finally, L2 Asset Management LLC lifted its holdings in 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 in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Stock Performance

NYSE: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 company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.37. The firm has a market capitalization of $53.52 billion, a PE ratio of 5.40, a price-to-earnings-growth ratio of 0.43 and a beta of 0.23. The business’s fifty day moving average price is $204.52 and its 200 day moving average price is $204.71.

Allstate (NYSE:ALL) last announced its quarterly earnings results 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. The company had revenue of $17.35 billion during the quarter, compared to the consensus estimate of $17.23 billion. Allstate had a return on equity of 39.20% and a net margin of 15.19%.Allstate’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the business earned $7.67 EPS. On average, sell-side analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be issued a $1.08 dividend. 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. The ex-dividend date of this dividend is Monday, March 2nd. Allstate’s dividend payout ratio is currently 11.31%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ALL shares. JPMorgan Chase & Co. raised their price target on shares of Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Keefe, Bruyette & Woods increased their price objective on Allstate from $254.00 to $260.00 and gave the company an “outperform” rating in a research note on Tuesday, February 10th. Morgan Stanley reiterated an “equal weight” rating and issued a $215.00 target price (down from $245.00) on shares of Allstate in a report on Tuesday, December 16th. Mizuho upped their price target on Allstate from $255.00 to $281.00 and gave the stock an “outperform” rating in a report on Monday, February 9th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $231.00 price target on shares of Allstate in a research report on Thursday, March 5th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $238.88.

Insider Transactions at Allstate

In other Allstate news, insider Suren Gupta sold 19,593 shares of the stock in a transaction that occurred 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 transaction, the insider directly owned 100,646 shares in the company, valued at $21,135,660. This represents a 16.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.70% of the stock is owned by company insiders.

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.