Private Ocean LLC Makes New Investment in Allstate Corp (NYSE:ALL)

Private Ocean LLC purchased a new stake in Allstate Corp (NYSE:ALL) during the second quarter, Holdings Channel reports. The fund purchased 746 shares of the insurance provider’s stock, valued at approximately $75,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Community Bank N.A. raised its stake in shares of Allstate by 21.7% in the 2nd quarter. Community Bank N.A. now owns 560 shares of the insurance provider’s stock valued at $57,000 after acquiring an additional 100 shares during the period. Cornerstone Advisors Inc. grew its holdings in shares of Allstate by 15.3% in the second quarter. Cornerstone Advisors Inc. now owns 800 shares of the insurance provider’s stock valued at $81,000 after purchasing an additional 106 shares in the last quarter. Orrstown Financial Services Inc. grew its holdings in shares of Allstate by 1.1% in the second quarter. Orrstown Financial Services Inc. now owns 10,417 shares of the insurance provider’s stock valued at $1,059,000 after purchasing an additional 116 shares in the last quarter. First National Trust Co grew its holdings in shares of Allstate by 5.7% in the first quarter. First National Trust Co now owns 2,626 shares of the insurance provider’s stock valued at $248,000 after purchasing an additional 142 shares in the last quarter. Finally, UNIVEST FINANCIAL Corp grew its holdings in shares of Allstate by 0.3% in the second quarter. UNIVEST FINANCIAL Corp now owns 43,384 shares of the insurance provider’s stock valued at $4,412,000 after purchasing an additional 144 shares in the last quarter. 77.52% of the stock is currently owned by institutional investors and hedge funds.

NYSE ALL traded down $1.21 on Friday, hitting $104.09. 1,868,408 shares of the stock were exchanged, compared to its average volume of 1,492,013. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.29. Allstate Corp has a fifty-two week low of $77.00 and a fifty-two week high of $109.13. The firm has a market cap of $34.27 billion, a P/E ratio of 12.90, a PEG ratio of 1.33 and a beta of 0.82. The firm has a 50-day simple moving average of $103.01.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.18 EPS for the quarter, topping the consensus estimate of $1.48 by $0.70. Allstate had a net margin of 6.52% and a return on equity of 12.66%. The company had revenue of $8.99 billion during the quarter, compared to analysts’ expectations of $8.96 billion. During the same quarter in the previous year, the business posted $2.00 EPS. The firm’s revenue was up 6.2% on a year-over-year basis. Analysts forecast that Allstate Corp will post 9.35 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, August 29th. Allstate’s dividend payout ratio (DPR) is presently 24.78%.

In other Allstate news, insider Glenn T. Shapiro sold 22,289 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $102.22, for a total transaction of $2,278,381.58. Following the completion of the transaction, the insider now owns 25,584 shares in the company, valued at approximately $2,615,196.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Steven E. Shebik sold 35,014 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $103.64, for a total transaction of $3,628,850.96. Following the transaction, the insider now owns 121,476 shares of the company’s stock, valued at approximately $12,589,772.64. The disclosure for this sale can be found here. Insiders have sold a total of 126,836 shares of company stock valued at $13,071,947 in the last quarter. 1.60% of the stock is currently owned by company insiders.

ALL has been the subject of a number of research reports. Barclays lifted their price objective on shares of Allstate from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, July 1st. Credit Suisse Group cut shares of Allstate from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $100.00 to $94.00 in a report on Thursday, July 11th. Morgan Stanley lifted their price objective on shares of Allstate from $100.00 to $108.00 and gave the company an “equal weight” rating in a report on Friday, July 19th. Goldman Sachs Group upgraded shares of Allstate from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $106.00 to $110.00 in a report on Wednesday, May 29th. Finally, Raymond James lifted their price objective on shares of Allstate from $115.00 to $125.00 and gave the company a “strong-buy” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $107.25.

About Allstate

The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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