Lecap Asset Management Ltd. Buys 2,914 Shares of The Allstate Corporation $ALL

Lecap Asset Management Ltd. boosted its stake in The Allstate Corporation (NYSE:ALL) by 33.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,726 shares of the insurance provider’s stock after purchasing an additional 2,914 shares during the quarter. Allstate comprises about 0.9% of Lecap Asset Management Ltd.’s holdings, making the stock its 14th biggest position. Lecap Asset Management Ltd.’s holdings in Allstate were worth $2,517,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in ALL. Vanguard Group Inc. grew its stake in shares of Allstate by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 33,235,231 shares of the insurance provider’s stock valued at $6,690,584,000 after buying an additional 435,145 shares during the period. Geode Capital Management LLC boosted its holdings in Allstate by 1.2% in the second quarter. Geode Capital Management LLC now owns 6,714,629 shares of the insurance provider’s stock worth $1,345,961,000 after acquiring an additional 79,366 shares in the last quarter. Franklin Resources Inc. grew its stake in Allstate by 2.5% in the second quarter. Franklin Resources Inc. now owns 4,670,113 shares of the insurance provider’s stock valued at $940,140,000 after acquiring an additional 112,858 shares during the period. Raymond James Financial Inc. increased its holdings in shares of Allstate by 3.3% during the second quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider’s stock valued at $562,388,000 after acquiring an additional 88,620 shares in the last quarter. Finally, Boston Partners raised its position in shares of Allstate by 7.0% during the second quarter. Boston Partners now owns 2,655,585 shares of the insurance provider’s stock worth $535,078,000 after purchasing an additional 172,931 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Buying and Selling

In other Allstate news, insider Suren Gupta sold 21,871 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $215.21, for a total transaction of $4,706,857.91. Following the completion of the transaction, the insider directly owned 100,646 shares of the company’s stock, valued at approximately $21,660,025.66. This represents a 17.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 28,807 shares of company stock valued at $6,198,726 in the last quarter. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ALL. JPMorgan Chase & Co. boosted their price target on shares of Allstate from $254.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. The Goldman Sachs Group set a $227.00 price objective on shares of Allstate in a report on Wednesday. Morgan Stanley restated an “equal weight” rating and issued a $215.00 target price (down previously from $245.00) on shares of Allstate in a report on Tuesday, December 16th. William Blair cut shares of Allstate from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 18th. Finally, Mizuho began coverage on Allstate in a report on Monday, December 15th. They set an “outperform” rating and a $254.00 price objective for the company. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $236.00.

Allstate Stock Down 0.4%

Shares of NYSE:ALL opened at $207.18 on Thursday. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $215.89. The company has a market capitalization of $54.21 billion, a PE ratio of 6.71, a price-to-earnings-growth ratio of 0.46 and a beta of 0.24. The business has a fifty day moving average price of $206.55 and a two-hundred day moving average price of $203.12. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.43 and a quick ratio of 0.43.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share for the quarter, topping analysts’ consensus estimates of $5.48 by $5.69. Allstate had a net margin of 12.53% and a return on equity of 35.42%. The company had revenue of $17.26 billion for the quarter, compared to the consensus estimate of $16.59 billion. During the same period in the previous year, the firm earned $3.91 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, December 1st. Allstate’s payout ratio is 12.95%.

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.