RB Capital Management LLC Purchases Shares of 2,581 The Allstate Corporation $ALL

RB Capital Management LLC acquired a new position in shares of The Allstate Corporation (NYSE:ALL) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,581 shares of the insurance provider’s stock, valued at approximately $614,000.

Several other large investors have also made changes to their positions in ALL. Brighton Jones LLC grew its position in Allstate by 60.2% during the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock valued at $1,253,000 after acquiring an additional 2,443 shares during the period. Revolve Wealth Partners LLC purchased a new position in shares of Allstate in the 4th quarter worth about $231,000. WINTON GROUP Ltd acquired a new position in shares of Allstate in the 2nd quarter valued at about $210,000. Treasurer of the State of North Carolina increased its position in Allstate by 2.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 123,272 shares of the insurance provider’s stock worth $24,816,000 after purchasing an additional 3,051 shares in the last quarter. Finally, Ieq Capital LLC increased its position in Allstate by 20.1% during the 2nd quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider’s stock worth $7,713,000 after purchasing an additional 6,412 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Allstate

In other news, insider John E. Dugenske sold 32,996 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the completion of the sale, the insider directly owned 13,054 shares in the company, valued at $3,515,833.82. This trade represents a 71.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrea Redmond sold 2,225 shares of Allstate stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $202.91, for a total value of $451,474.75. Following the sale, the director directly owned 2,225 shares in the company, valued at approximately $451,474.75. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 91,446 shares of company stock valued at $24,208,675 in the last ninety days. Insiders own 1.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ALL shares. Cantor Fitzgerald lifted their price target on shares of Allstate from $236.00 to $242.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Raymond James Financial reissued a “strong-buy” rating and issued a $315.00 target price on shares of Allstate in a research note on Tuesday, August 11th. Argus set a $238.00 price target on shares of Allstate in a research report on Friday. Wells Fargo & Company downgraded Allstate from an “equal weight” rating to an “underweight” rating and increased their price target for the company from $243.00 to $250.00 in a report on Friday, August 7th. Finally, Zacks Research raised Allstate from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. Four investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $263.90.

Allstate Trading Up 1.4%

ALL opened at $261.17 on Friday. The firm’s 50 day moving average is $254.14 and its 200-day moving average is $226.81. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $277.22. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $66.04 billion, a P/E ratio of 5.22, a P/E/G ratio of 0.39 and a beta of 0.16.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, beating the consensus estimate of $6.06 by $2.93. The business had revenue of $18.60 billion during the quarter, compared to the consensus estimate of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.94 earnings per share. Analysts expect that The Allstate Corporation will post 34.45 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, August 31st. Allstate’s dividend payout ratio is presently 8.63%.

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.