Jupiter Asset Management Ltd. Takes $36.94 Million Position in The Allstate Co. (NYSE:ALL)

Jupiter Asset Management Ltd. acquired a new stake in The Allstate Co. (NYSE:ALL) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 231,343 shares of the insurance provider’s stock, valued at approximately $36,936,000. Jupiter Asset Management Ltd. owned approximately 0.09% of Allstate at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ALL. Accretive Wealth Partners LLC purchased a new position in Allstate in the fourth quarter valued at $201,000. 9258 Wealth Management LLC boosted its holdings in Allstate by 10.9% in the fourth quarter. 9258 Wealth Management LLC now owns 10,034 shares of the insurance provider’s stock valued at $1,405,000 after purchasing an additional 987 shares during the period. Principal Securities Inc. purchased a new position in Allstate in the fourth quarter valued at $101,000. Cary Street Partners Investment Advisory LLC boosted its holdings in Allstate by 101.3% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 2,500 shares of the insurance provider’s stock valued at $350,000 after purchasing an additional 1,258 shares during the period. Finally, Ieq Capital LLC boosted its holdings in Allstate by 27.1% in the fourth quarter. Ieq Capital LLC now owns 6,640 shares of the insurance provider’s stock valued at $929,000 after purchasing an additional 1,415 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Allstate

In other news, EVP Elizabeth Brady sold 49,481 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the sale, the executive vice president now owns 19,163 shares of the company’s stock, valued at approximately $3,431,901.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Suren Gupta sold 45,775 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total value of $8,114,992.00. Following the sale, the insider now owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Elizabeth Brady sold 49,481 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $179.09, for a total value of $8,861,552.29. Following the completion of the sale, the executive vice president now directly owns 19,163 shares in the company, valued at approximately $3,431,901.67. The disclosure for this sale can be found here. Insiders have sold 201,938 shares of company stock valued at $36,122,740 in the last quarter. 1.80% of the stock is currently owned by corporate insiders.

Allstate Stock Performance

NYSE ALL opened at $184.39 on Thursday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49. The business’s 50 day moving average is $175.30 and its two-hundred day moving average is $168.73. The Allstate Co. has a 12-month low of $107.85 and a 12-month high of $191.33. The stock has a market capitalization of $48.66 billion, a price-to-earnings ratio of 40.70, a PEG ratio of 1.75 and a beta of 0.48.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, topping the consensus estimate of $0.33 by $1.28. The business had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.04 billion. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The company’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($4.42) EPS. Research analysts expect that The Allstate Co. will post 15.16 EPS for the current year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, August 30th. Allstate’s dividend payout ratio (DPR) is 81.24%.

Wall Street Analyst Weigh In

ALL has been the subject of a number of recent research reports. TD Cowen lifted their target price on Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Roth Mkm reaffirmed a “buy” rating and set a $200.00 price target on shares of Allstate in a report on Wednesday, August 14th. BMO Capital Markets lifted their price target on Allstate from $191.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Barclays assumed coverage on Allstate in a report on Wednesday, September 4th. They set an “underweight” rating and a $175.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price target on Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Allstate has a consensus rating of “Moderate Buy” and an average price target of $192.76.

Allstate Profile

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.