Magnetar Financial LLC trimmed its holdings in shares of Allstate Corporation (The) (NYSE:ALL) by 74.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,789 shares of the insurance provider’s stock after selling 37,701 shares during the quarter. Magnetar Financial LLC’s holdings in Allstate were worth $1,175,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in ALL. Janus Henderson Group PLC raised its stake in shares of Allstate by 4,753.8% during the 2nd quarter. Janus Henderson Group PLC now owns 2,296,651 shares of the insurance provider’s stock worth $203,116,000 after buying an additional 2,249,334 shares during the period. APG Asset Management N.V. raised its stake in shares of Allstate by 182.7% during the 3rd quarter. APG Asset Management N.V. now owns 3,368,436 shares of the insurance provider’s stock worth $309,593,000 after buying an additional 2,176,800 shares during the period. Principal Financial Group Inc. raised its stake in shares of Allstate by 249.1% during the 2nd quarter. Principal Financial Group Inc. now owns 1,827,612 shares of the insurance provider’s stock worth $161,634,000 after buying an additional 1,304,131 shares during the period. Voya Investment Management LLC raised its stake in shares of Allstate by 480.2% during the 2nd quarter. Voya Investment Management LLC now owns 1,496,235 shares of the insurance provider’s stock worth $132,328,000 after buying an additional 1,238,341 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Allstate by 18.8% during the 2nd quarter. Northern Trust Corp now owns 7,202,273 shares of the insurance provider’s stock worth $636,969,000 after buying an additional 1,141,782 shares during the period. 76.33% of the stock is owned by institutional investors and hedge funds.
Allstate Corporation (ALL) opened at $102.50 on Friday. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $36,779.66, a price-to-earnings ratio of 15.10, a P/E/G ratio of 1.97 and a beta of 1.12. Allstate Corporation has a 52 week low of $71.51 and a 52 week high of $104.10.
Allstate (NYSE:ALL) last issued its earnings results on Wednesday, November 1st. The insurance provider reported $1.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.61 by ($0.01). The company had revenue of $8.12 billion during the quarter, compared to analysts’ expectations of $8.07 billion. Allstate had a net margin of 7.32% and a return on equity of 13.11%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.26 earnings per share. equities analysts predict that Allstate Corporation will post 6.23 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Thursday, November 30th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Wednesday, November 29th. Allstate’s payout ratio is currently 20.56%.
Several research analysts recently commented on the company. Wells Fargo & Company reissued a “buy” rating and issued a $105.00 price objective on shares of Allstate in a research note on Thursday, November 2nd. BidaskClub downgraded Allstate from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Credit Suisse Group increased their price objective on Allstate from $91.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, November 2nd. UBS reduced their price objective on Allstate from $94.00 to $93.00 and set a “neutral” rating for the company in a research note on Tuesday, September 19th. Finally, Buckingham Research assumed coverage on Allstate in a research note on Monday, September 11th. They issued an “underperform” rating and a $74.00 price objective for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. Allstate has an average rating of “Hold” and a consensus target price of $95.08.
In other Allstate news, insider Suren Gupta sold 103,242 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $98.68, for a total value of $10,187,920.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Thomas J. Wilson sold 195,000 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $99.13, for a total value of $19,330,350.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 432,242 shares of company stock valued at $42,827,931. 1.58% of the stock is owned by company insiders.
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The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.
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