The Allstate Corporation $ALL Shares Acquired by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC raised its position in shares of The Allstate Corporation (NYSE:ALL) by 236.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,515 shares of the insurance provider’s stock after purchasing an additional 3,876 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Allstate were worth $1,183,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of Allstate by 60.2% in the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock valued at $1,253,000 after buying an additional 2,443 shares during the period. Revolve Wealth Partners LLC bought a new stake in Allstate in the fourth quarter worth about $231,000. Envestnet Asset Management Inc. lifted its holdings in Allstate by 3.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 257,473 shares of the insurance provider’s stock valued at $51,832,000 after acquiring an additional 9,544 shares during the last quarter. Howard Capital Management Inc. lifted its holdings in Allstate by 11.6% in the 2nd quarter. Howard Capital Management Inc. now owns 1,685 shares of the insurance provider’s stock valued at $341,000 after acquiring an additional 175 shares during the last quarter. Finally, Arkadios Wealth Advisors boosted its position in shares of Allstate by 8.4% during the 2nd quarter. Arkadios Wealth Advisors now owns 5,370 shares of the insurance provider’s stock valued at $1,081,000 after purchasing an additional 415 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on ALL. Weiss Ratings reissued a “buy (b)” rating on shares of Allstate in a research note on Wednesday, January 21st. The Goldman Sachs Group reiterated a “buy” rating and set a $238.00 price objective on shares of Allstate in a research report on Saturday, February 7th. Mizuho raised their price objective on Allstate from $255.00 to $281.00 and gave the stock an “outperform” rating in a research note on Monday, February 9th. Zacks Research raised Allstate from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. Finally, TD Cowen lowered Allstate from a “buy” rating to a “hold” rating in a research report on Monday, January 12th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Allstate presently has an average rating of “Moderate Buy” and a consensus price target of $239.29.

Allstate Stock Performance

Shares of ALL stock opened at $212.57 on Friday. The stock’s fifty day simple moving average is $204.05 and its 200-day simple moving average is $204.49. The company has a market capitalization of $55.17 billion, a price-to-earnings ratio of 5.57, a P/E/G ratio of 0.43 and a beta of 0.23. The company has a current ratio of 0.37, a quick ratio of 0.43 and a debt-to-equity ratio of 0.26. The Allstate Corporation has a 1-year low of $176.00 and a 1-year high of $216.75.

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

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders 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 yield of 2.0%. The ex-dividend date is Monday, March 2nd. This is a positive change from Allstate’s previous quarterly dividend of $1.00. Allstate’s payout ratio is currently 11.31%.

Insider Activity at Allstate

In related news, insider Suren Gupta sold 19,593 shares of Allstate stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the completion of the sale, the insider owned 100,646 shares of the company’s stock, valued at approximately $21,135,660. This trade represents a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.70% of the stock is currently owned by corporate 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.