Stevens Capital Management LP Lowers Position in Allstate Corp (NYSE:ALL)

Stevens Capital Management LP cut its holdings in Allstate Corp (NYSE:ALL) by 59.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 74,938 shares of the insurance provider’s stock after selling 110,344 shares during the quarter. Stevens Capital Management LP’s holdings in Allstate were worth $7,620,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ALL. CWM LLC increased its position in shares of Allstate by 58.3% during the 2nd quarter. CWM LLC now owns 161,271 shares of the insurance provider’s stock worth $16,400,000 after purchasing an additional 59,398 shares during the last quarter. Ropes Wealth Advisors LLC purchased a new stake in Allstate during the second quarter valued at $206,000. Cutter & CO Brokerage Inc. purchased a new stake in Allstate during the second quarter valued at $451,000. Abbrea Capital LLC raised its stake in Allstate by 5.7% during the second quarter. Abbrea Capital LLC now owns 5,403 shares of the insurance provider’s stock valued at $552,000 after purchasing an additional 290 shares in the last quarter. Finally, AMG National Trust Bank raised its stake in Allstate by 44.9% during the second quarter. AMG National Trust Bank now owns 11,499 shares of the insurance provider’s stock valued at $1,169,000 after purchasing an additional 3,562 shares in the last quarter. 78.26% of the stock is owned by institutional investors.

In other news, Vice Chairman Steven E. Shebik sold 35,014 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $103.64, for a total value of $3,628,850.96. Following the completion of the sale, the insider now directly owns 121,476 shares of the company’s stock, valued at approximately $12,589,772.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Glenn T. Shapiro sold 22,289 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $102.22, for a total transaction of $2,278,381.58. Following the completion of the sale, the insider now directly owns 25,584 shares of the company’s stock, valued at $2,615,196.48. The disclosure for this sale can be found here. In the last three months, insiders sold 126,836 shares of company stock worth $13,071,947. Insiders own 1.60% of the company’s stock.



Shares of NYSE ALL traded up $1.80 during mid-day trading on Tuesday, hitting $104.65. The company had a trading volume of 780,374 shares, compared to its average volume of 1,527,030. The company has a market cap of $34.27 billion, a P/E ratio of 12.97, a PEG ratio of 1.34 and a beta of 0.82. The company has a 50-day moving average price of $103.15. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.29. Allstate Corp has a one year low of $77.00 and a one year high of $109.13.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.48 by $0.70. The company had revenue of $8.99 billion during the quarter, compared to analysts’ expectations of $8.96 billion. Allstate had a return on equity of 12.66% and a net margin of 6.52%. Allstate’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.00 EPS. On average, sell-side analysts forecast that Allstate Corp will post 9.35 earnings per share for the current 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 $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Thursday, August 29th. Allstate’s dividend payout ratio (DPR) is presently 24.78%.

A number of equities research analysts recently issued reports on ALL shares. UBS Group upped their price target on shares of Allstate from $102.00 to $106.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Credit Suisse Group downgraded shares of Allstate from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $100.00 to $94.00 in a research note on Thursday, July 11th. Raymond James upped their price target on shares of Allstate from $115.00 to $125.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 1st. Morgan Stanley upped their price target on shares of Allstate from $100.00 to $108.00 and gave the company an “equal weight” rating in a research note on Friday, July 19th. Finally, Barclays upped their price target on shares of Allstate from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, July 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $107.25.

Allstate Profile

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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