Entropy Technologies LP Buys 21,942 Shares of The Allstate Corporation $ALL

Entropy Technologies LP boosted its position in shares of The Allstate Corporation (NYSE:ALL) by 627.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,438 shares of the insurance provider’s stock after acquiring an additional 21,942 shares during the period. Entropy Technologies LP’s holdings in Allstate were worth $5,460,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ALL. Vanguard Group Inc. raised its position in shares of Allstate by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 33,235,231 shares of the insurance provider’s stock valued at $6,690,584,000 after purchasing an additional 435,145 shares during the period. Geode Capital Management LLC increased its stake in Allstate by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 6,714,629 shares of the insurance provider’s stock worth $1,345,961,000 after buying an additional 79,366 shares in the last quarter. Franklin Resources Inc. raised its holdings in Allstate by 2.5% during the second quarter. Franklin Resources Inc. now owns 4,670,113 shares of the insurance provider’s stock valued at $940,140,000 after acquiring an additional 112,858 shares during the period. Raymond James Financial Inc. lifted its position in shares of Allstate by 3.3% in the second quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider’s stock valued at $562,388,000 after acquiring an additional 88,620 shares in the last quarter. Finally, Boston Partners boosted its stake in shares of Allstate by 7.0% in the second quarter. Boston Partners now owns 2,655,585 shares of the insurance provider’s stock worth $535,078,000 after acquiring an additional 172,931 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ALL. Evercore set a $225.00 price target on Allstate in a report on Wednesday, January 7th. Mizuho lifted their price objective on shares of Allstate from $255.00 to $281.00 and gave the company an “outperform” rating in a research report on Monday, February 9th. Citigroup boosted their target price on shares of Allstate from $216.00 to $221.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Cantor Fitzgerald restated a “neutral” rating and set a $220.00 target price on shares of Allstate in a research report on Thursday, February 5th. Finally, Wells Fargo & Company cut their target price on shares of Allstate from $228.00 to $227.00 and set an “equal weight” rating for the company in a research note on Friday, February 20th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $238.88.

Insiders Place Their Bets

In other Allstate news, insider Suren Gupta sold 19,593 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the sale, the insider directly owned 100,646 shares in the company, valued at $21,135,660. This represents a 16.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.70% of the stock is owned by insiders.

Allstate Trading Down 0.4%

ALL stock opened at $204.84 on Friday. The firm has a fifty day moving average price of $204.47 and a 200 day moving average price of $204.66. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $216.75. The firm has a market cap of $53.16 billion, a PE ratio of 5.36, a price-to-earnings-growth ratio of 0.43 and a beta of 0.23. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 EPS for the quarter, beating the consensus estimate of $8.72 by $5.59. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The business had revenue of $17.35 billion during the quarter, compared to analyst estimates of $17.23 billion. During the same quarter last year, the business earned $7.67 earnings per share. Allstate’s quarterly revenue was up 5.1% compared to the same quarter last year. Sell-side analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be paid a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, March 2nd. This is an increase from Allstate’s previous quarterly dividend of $1.00. This represents a $4.32 annualized dividend and a yield of 2.1%. Allstate’s payout ratio is presently 11.31%.

Allstate Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.