Jefferies Group LLC trimmed its stake in Allstate Corp (NYSE:ALL) by 24.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,302 shares of the insurance provider’s stock after selling 21,380 shares during the period. Jefferies Group LLC’s holdings in Allstate were worth $6,445,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of ALL. Dynamic Technology Lab Private Ltd bought a new stake in Allstate during the third quarter valued at $1,669,000. Capital Fund Management S.A. boosted its position in Allstate by 22.9% during the third quarter. Capital Fund Management S.A. now owns 396,548 shares of the insurance provider’s stock valued at $39,139,000 after acquiring an additional 73,800 shares during the last quarter. King Luther Capital Management Corp boosted its position in Allstate by 2.1% during the third quarter. King Luther Capital Management Corp now owns 142,974 shares of the insurance provider’s stock valued at $14,112,000 after acquiring an additional 3,008 shares during the last quarter. Renaissance Technologies LLC boosted its position in Allstate by 195.0% during the third quarter. Renaissance Technologies LLC now owns 403,600 shares of the insurance provider’s stock valued at $39,835,000 after acquiring an additional 266,800 shares during the last quarter. Finally, Woodmont Investment Counsel LLC bought a new stake in Allstate during the third quarter valued at $732,000. Institutional investors and hedge funds own 77.15% of the company’s stock.
ALL stock opened at $83.81 on Friday. The stock has a market cap of $29.31 billion, a PE ratio of 12.49, a P/E/G ratio of 1.14 and a beta of 0.85. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.30. Allstate Corp has a 1 year low of $83.33 and a 1 year high of $105.36.
Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, October 31st. The insurance provider reported $1.93 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.21 by ($0.28). The company had revenue of $8.60 billion for the quarter, compared to the consensus estimate of $8.51 billion. Allstate had a return on equity of 15.48% and a net margin of 9.38%. Allstate’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the company earned $1.60 EPS. As a group, sell-side analysts expect that Allstate Corp will post 8.92 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, November 30th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.20%. Allstate’s dividend payout ratio (DPR) is presently 27.42%.
In other news, EVP Jesse E. Merten sold 696 shares of the stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $92.12, for a total transaction of $64,115.52. Following the transaction, the executive vice president now owns 2,102 shares of the company’s stock, valued at approximately $193,636.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Harriet K. Harty sold 10,515 shares of the stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $98.87, for a total transaction of $1,039,618.05. Following the transaction, the executive vice president now directly owns 14,606 shares in the company, valued at approximately $1,444,095.22. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.
A number of analysts have commented on the stock. Zacks Investment Research raised shares of Allstate from a “hold” rating to a “buy” rating and set a $112.00 price target on the stock in a research report on Tuesday, September 18th. Credit Suisse Group cut their price target on shares of Allstate from $114.00 to $112.00 and set a “buy” rating on the stock in a research report on Tuesday, August 28th. ValuEngine raised shares of Allstate from a “sell” rating to a “hold” rating in a research report on Saturday, September 1st. Wells Fargo & Co reissued a “hold” rating on shares of Allstate in a research report on Thursday, August 16th. Finally, Citigroup set a $115.00 price objective on shares of Allstate and gave the stock a “buy” rating in a research report on Friday, October 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Allstate presently has an average rating of “Hold” and a consensus target price of $102.82.
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The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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