Denali Advisors LLC Acquires New Stake in Allstate Corp (ALL)

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Denali Advisors LLC acquired a new stake in shares of Allstate Corp (NYSE:ALL) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,600 shares of the insurance provider’s stock, valued at approximately $158,000.

Other hedge funds also recently modified their holdings of the company. Atlantic Trust Group LLC raised its holdings in shares of Allstate by 1.1% in the first quarter. Atlantic Trust Group LLC now owns 51,832 shares of the insurance provider’s stock worth $4,913,000 after buying an additional 541 shares during the period. Valeo Financial Advisors LLC raised its holdings in shares of Allstate by 41.5% in the second quarter. Valeo Financial Advisors LLC now owns 1,859 shares of the insurance provider’s stock worth $183,000 after buying an additional 545 shares during the period. Townsend & Associates Inc raised its holdings in shares of Allstate by 8.5% in the second quarter. Townsend & Associates Inc now owns 7,144 shares of the insurance provider’s stock worth $652,000 after buying an additional 558 shares during the period. Catawba Capital Management VA raised its holdings in shares of Allstate by 1.5% in the second quarter. Catawba Capital Management VA now owns 39,271 shares of the insurance provider’s stock worth $3,584,000 after buying an additional 566 shares during the period. Finally, Reliance Trust Co. of Delaware raised its holdings in shares of Allstate by 8.6% in the second quarter. Reliance Trust Co. of Delaware now owns 7,277 shares of the insurance provider’s stock worth $664,000 after buying an additional 575 shares during the period. Institutional investors and hedge funds own 76.22% of the company’s stock.

In related news, EVP Susan L. Lees sold 22,189 shares of the stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $99.24, for a total value of $2,202,036.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Glenn T. Shapiro sold 21,728 shares of the stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $98.70, for a total value of $2,144,553.60. The disclosure for this sale can be found here. In the last three months, insiders sold 54,432 shares of company stock worth $5,386,208. 1.40% of the stock is owned by insiders.

ALL has been the topic of several recent analyst reports. Zacks Investment Research downgraded Allstate from a “buy” rating to a “hold” rating in a report on Tuesday, June 19th. ValuEngine downgraded Allstate from a “hold” rating to a “sell” rating in a report on Thursday, June 21st. B. Riley increased their price target on Allstate from $84.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, July 16th. Buckingham Research upgraded Allstate from an “underperform” rating to a “neutral” rating and set a $88.00 price target on the stock in a report on Wednesday, July 18th. Finally, Citigroup reduced their price target on Allstate from $108.00 to $107.00 and set a “buy” rating on the stock in a report on Friday, July 20th. Ten equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $104.00.

Shares of NYSE:ALL opened at $96.87 on Thursday. Allstate Corp has a 52-week low of $88.29 and a 52-week high of $105.36. The company has a market capitalization of $34.17 billion, a P/E ratio of 14.44, a PEG ratio of 1.27 and a beta of 0.92. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.31.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, August 1st. The insurance provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.45. Allstate had a return on equity of 15.21% and a net margin of 9.06%. The company had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.53 billion. During the same quarter in the prior year, the firm earned $1.38 earnings per share. Allstate’s revenue was up 5.5% compared to the same quarter last year. As a group, equities research analysts predict that Allstate Corp will post 9.31 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Friday, August 31st were paid a $0.46 dividend. The ex-dividend date was Thursday, August 30th. This represents a $1.84 annualized dividend and a yield of 1.90%. Allstate’s dividend payout ratio (DPR) is currently 27.42%.

Allstate Profile

The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

Read More: Average Daily Trade Volume – What You Need to Know

Want to see what other hedge funds are holding ALL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allstate Corp (NYSE:ALL).

Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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