Matrix Private Capital Group LLC Invests $513,000 in The Allstate Corporation $ALL

Matrix Private Capital Group LLC purchased a new stake in The Allstate Corporation (NYSE:ALL) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,461 shares of the insurance provider’s stock, valued at approximately $513,000.

A number of other hedge funds have also recently added to or reduced their stakes in ALL. Brighton Jones LLC raised its holdings in shares of Allstate by 60.2% during the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock worth $1,253,000 after buying an additional 2,443 shares in the last quarter. Revolve Wealth Partners LLC bought a new position in Allstate in the fourth quarter valued at about $231,000. WINTON GROUP Ltd acquired a new position in Allstate during the second quarter worth about $210,000. Treasurer of the State of North Carolina lifted its holdings in shares of Allstate by 2.5% in the second quarter. Treasurer of the State of North Carolina now owns 123,272 shares of the insurance provider’s stock worth $24,816,000 after acquiring an additional 3,051 shares during the last quarter. Finally, Ieq Capital LLC boosted its stake in shares of Allstate by 20.1% in the 2nd quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider’s stock valued at $7,713,000 after purchasing an additional 6,412 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

Insiders Place Their Bets

In other Allstate news, COO Mario Rizzo sold 18,578 shares of Allstate stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the transaction, the chief operating officer owned 82,227 shares of the company’s stock, valued at $17,991,267.60. This trade represents a 18.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the transaction, the insider directly owned 27,558 shares in the company, valued at approximately $5,959,968.66. This represents a 5.32% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 22,353 shares of company stock valued at $4,851,560. Corporate insiders own 1.55% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Mizuho raised their target price on shares of Allstate from $255.00 to $272.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Citigroup increased their price target on Allstate from $221.00 to $226.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Atlantic Securities set a $319.00 price objective on Allstate in a report on Wednesday, July 15th. Wells Fargo & Company boosted their price objective on Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Finally, Keefe, Bruyette & Woods upped their target price on Allstate from $242.00 to $255.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $254.80.

Allstate Stock Performance

ALL stock opened at $260.16 on Friday. The firm has a market cap of $66.97 billion, a PE ratio of 5.74, a price-to-earnings-growth ratio of 0.45 and a beta of 0.16. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The stock has a 50-day moving average price of $231.16 and a 200-day moving average price of $216.00. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $260.65.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. The company had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. Allstate’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.53 EPS. As a group, equities research analysts expect that The Allstate Corporation will post 30.51 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be issued a dividend of $1.08 per share. 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 payout ratio is currently 9.53%.

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.