30,689 Shares in The Allstate Corporation $ALL Purchased by Jupiter Topco LLC

Jupiter Topco LLC bought a new stake in The Allstate Corporation (NYSE:ALL) during the second quarter, HoldingsChannel.com reports. The fund bought 30,689 shares of the insurance provider’s stock, valued at approximately $7,300,000.

Several other hedge funds also recently modified their holdings of the company. Coldstream Capital Management Inc. raised its position in shares of Allstate by 0.6% in the fourth quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider’s stock valued at $1,625,000 after buying an additional 50 shares during the last quarter. Compound Planning Inc. lifted its stake in shares of Allstate by 1.6% during the fourth quarter. Compound Planning Inc. now owns 3,216 shares of the insurance provider’s stock valued at $669,000 after buying an additional 50 shares during the period. Cullen Frost Bankers Inc. boosted its position in Allstate by 0.9% during the fourth quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider’s stock worth $1,210,000 after acquiring an additional 52 shares during the last quarter. Root Financial Partners LLC grew its stake in Allstate by 4.7% in the 1st quarter. Root Financial Partners LLC now owns 1,170 shares of the insurance provider’s stock worth $243,000 after acquiring an additional 53 shares during the period. Finally, Montag A & Associates Inc. grew its stake in Allstate by 10.2% in the 4th quarter. Montag A & Associates Inc. now owns 596 shares of the insurance provider’s stock worth $125,000 after acquiring an additional 55 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Allstate

In other Allstate news, COO Mario Rizzo sold 56,225 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the completion of the sale, the chief operating officer directly owned 82,227 shares in the company, valued at $21,747,396.96. This represents a 40.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John E. Dugenske sold 32,996 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $269.33, for a total value of $8,886,812.68. Following the completion of the transaction, the insider owned 13,054 shares in the company, valued at approximately $3,515,833.82. This trade represents a 71.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.55% of the stock is currently owned by insiders.

Allstate Stock Up 0.2%

Shares of ALL opened at $261.17 on Monday. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $277.22. The company’s fifty day moving average is $254.14 and its two-hundred day moving average is $227.00. The firm has a market cap of $66.04 billion, a PE ratio of 5.22, a price-to-earnings-growth ratio of 0.40 and a beta of 0.16. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, topping analysts’ consensus estimates of $6.06 by $2.93. The business had revenue of $18.60 billion during the quarter, compared to the consensus estimate of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm posted $5.94 EPS. Analysts forecast that The Allstate Corporation will post 34.45 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be given 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 8.63%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Weiss Ratings downgraded Allstate from a “buy (a)” rating to a “buy (a-)” rating in a report on Tuesday, August 25th. Evercore set a $240.00 price objective on Allstate in a research report on Friday, July 10th. Citigroup lowered Allstate from a “neutral” rating to a “sell” rating and upped their target price for the company from $226.00 to $240.00 in a research note on Tuesday, August 11th. Barclays increased their target price on Allstate from $213.00 to $226.00 and gave the stock an “underweight” rating in a research report on Thursday, August 6th. Finally, Atlantic Securities set a $319.00 price target on Allstate in a research note on Wednesday, July 15th. Four equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $263.90.

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.