58,780 Shares in The Allstate Co. (NYSE:ALL) Bought by Castle Hook Partners LP

Castle Hook Partners LP acquired a new stake in The Allstate Co. (NYSE:ALL) in the third quarter, HoldingsChannel reports. The fund acquired 58,780 shares of the insurance provider’s stock, valued at approximately $11,148,000.

Other institutional investors also recently modified their holdings of the company. BDF Gestion bought a new stake in Allstate in the 2nd quarter valued at $3,051,000. OFI Invest Asset Management bought a new position in shares of Allstate in the second quarter valued at about $476,000. Diversified Trust Co lifted its stake in shares of Allstate by 505.3% during the 2nd quarter. Diversified Trust Co now owns 7,923 shares of the insurance provider’s stock worth $1,265,000 after buying an additional 6,614 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of Allstate by 351.6% during the 1st quarter. Cetera Investment Advisers now owns 65,221 shares of the insurance provider’s stock worth $11,284,000 after buying an additional 50,780 shares during the period. Finally, Eagle Asset Management Inc. grew its stake in Allstate by 38.0% in the 3rd quarter. Eagle Asset Management Inc. now owns 10,497 shares of the insurance provider’s stock valued at $2,067,000 after buying an additional 2,888 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Allstate

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the sale, the insider now owns 27,364 shares in the company, valued at $5,236,922.32. This trade represents a 57.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on ALL. Raymond James raised their price objective on shares of Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 4th. Evercore ISI lifted their price target on Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a report on Wednesday, October 9th. TD Cowen upped their price objective on Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Barclays lifted their target price on Allstate from $175.00 to $187.00 and gave the stock an “underweight” rating in a report on Thursday, October 31st. Finally, StockNews.com downgraded shares of Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $217.19.

Allstate Stock Up 0.2 %

Shares of ALL opened at $208.19 on Thursday. The firm has a 50 day simple moving average of $192.34 and a two-hundred day simple moving average of $178.57. The company has a market cap of $55.13 billion, a P/E ratio of 13.48, a P/E/G ratio of 1.80 and a beta of 0.48. The Allstate Co. has a one year low of $134.17 and a one year high of $209.88. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. The company had revenue of $16.63 billion during the quarter, compared to analysts’ expectations of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. Allstate’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.81 EPS. Research analysts forecast that The Allstate Co. will post 16.07 EPS for the current fiscal year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be paid a $0.92 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.77%. Allstate’s payout ratio is currently 23.83%.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.