RB Capital Management LLC Purchases New Stake in The Allstate Corporation $ALL

RB Capital Management LLC acquired a new stake in shares of The Allstate Corporation (NYSE:ALL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,581 shares of the insurance provider’s stock, valued at approximately $614,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Coldstream Capital Management Inc. raised its stake in shares of Allstate by 0.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider’s stock valued at $1,625,000 after purchasing an additional 50 shares in the last quarter. Compound Planning Inc. grew its stake in Allstate by 1.6% in the fourth quarter. Compound Planning Inc. now owns 3,216 shares of the insurance provider’s stock worth $669,000 after purchasing an additional 50 shares in the last quarter. Cullen Frost Bankers Inc. increased its holdings in Allstate by 0.9% in the fourth quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider’s stock valued at $1,210,000 after buying an additional 52 shares during the last quarter. Root Financial Partners LLC increased its holdings in Allstate by 4.7% in the first quarter. Root Financial Partners LLC now owns 1,170 shares of the insurance provider’s stock valued at $243,000 after buying an additional 53 shares during the last quarter. Finally, Montag A & Associates Inc. raised its stake in Allstate by 10.2% during the fourth quarter. Montag A & Associates Inc. now owns 596 shares of the insurance provider’s stock valued at $125,000 after buying an additional 55 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Allstate

In other Allstate news, insider John E. Dugenske sold 32,996 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $269.33, for a total value of $8,886,812.68. Following the sale, the insider directly owned 13,054 shares in the company, valued at approximately $3,515,833.82. This trade represents a 71.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Mario Rizzo sold 56,225 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the transaction, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at approximately $21,747,396.96. This trade represents a 40.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 91,446 shares of company stock worth $24,208,675. 1.55% of the stock is owned by insiders.

Allstate Stock Up 1.4%

NYSE:ALL opened at $261.17 on Friday. The firm has a market capitalization of $66.04 billion, a PE ratio of 5.22, a price-to-earnings-growth ratio of 0.39 and a beta of 0.16. The stock has a 50 day moving average of $254.14 and a 200-day moving average of $226.81. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $277.22. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, topping analysts’ consensus estimates of $6.06 by $2.93. The business had revenue of $18.60 billion for the quarter, compared to analysts’ expectations of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm earned $5.94 EPS. Analysts predict that The Allstate Corporation will post 34.45 EPS for the current year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be given a $1.08 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 annualized dividend and a yield of 1.7%. Allstate’s dividend payout ratio (DPR) is currently 8.63%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Atlantic Securities set a $319.00 target price on Allstate in a report on Wednesday, July 15th. Morgan Stanley set a $265.00 price target on Allstate in a research report on Tuesday, August 11th. Cantor Fitzgerald lifted their price objective on shares of Allstate from $236.00 to $242.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $250.00 price objective (down from $255.00) on shares of Allstate in a report on Thursday, August 20th. Finally, Wall Street Zen raised shares of Allstate from a “hold” rating to a “buy” rating in a report on Monday, July 20th. Four research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $263.90.

About Allstate

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.