Entropy Technologies LP Increases Stake in The Allstate Corporation $ALL

Entropy Technologies LP increased its position in shares of The Allstate Corporation (NYSE:ALL) by 627.6% in the third quarter, Holdings Channel.com reports. The firm owned 25,438 shares of the insurance provider’s stock after purchasing an additional 21,942 shares during the quarter. Entropy Technologies LP’s holdings in Allstate were worth $5,460,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. lifted its stake in Allstate by 79.7% in the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 55 shares during the last quarter. Barnes Dennig Private Wealth Management LLC grew its stake in shares of Allstate by 112.3% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock valued at $30,000 after buying an additional 73 shares during the last quarter. Clearstead Trust LLC grew its stake in shares of Allstate by 3,800.0% during the second quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock valued at $31,000 after buying an additional 152 shares during the last quarter. Armstrong Advisory Group Inc. raised its holdings in shares of Allstate by 72.0% in the third quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider’s stock worth $34,000 after buying an additional 67 shares during the period. Finally, South Plains Financial Inc. lifted its stake in shares of Allstate by 41.5% during the 3rd quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 49 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors.

Allstate Stock Performance

ALL stock opened at $204.84 on Friday. The Allstate Corporation has a one year low of $176.00 and a one year high of $216.75. The firm has a market cap of $53.16 billion, a price-to-earnings ratio of 5.36, a PEG ratio of 0.43 and a beta of 0.23. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a 50-day simple moving average of $204.47 and a two-hundred day simple moving average of $204.66.

Allstate (NYSE:ALL) last issued its quarterly earnings data 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. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The firm had revenue of $17.35 billion for the quarter, compared to the consensus estimate of $17.23 billion. During the same quarter in the previous year, the firm earned $7.67 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities analysts forecast that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, March 2nd. This is a boost from Allstate’s previous quarterly dividend of $1.00. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.1%. Allstate’s payout ratio is currently 11.31%.

Insider Activity

In other news, insider Suren Gupta sold 19,593 shares of the 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 in the company, valued at approximately $21,135,660. This represents a 16.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ALL. Zacks Research raised Allstate from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. Morgan Stanley reiterated an “equal weight” rating and set a $215.00 target price (down from $245.00) on shares of Allstate in a research report on Tuesday, December 16th. The Goldman Sachs Group reissued a “neutral” rating and set a $231.00 target price on shares of Allstate in a research note on Thursday, March 5th. Cantor Fitzgerald reissued a “neutral” rating and issued a $220.00 price objective on shares of Allstate in a research note on Thursday, February 5th. Finally, Citigroup raised their target price on shares of Allstate from $216.00 to $221.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $238.88.

About Allstate

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.