Thoroughbred Financial Services LLC Increases Stock Holdings in The Allstate Corporation $ALL

Thoroughbred Financial Services LLC increased its holdings in shares of The Allstate Corporation (NYSE:ALL) by 236.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,515 shares of the insurance provider’s stock after buying an additional 3,876 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Allstate were worth $1,183,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its position in shares of Allstate by 60.2% in the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock worth $1,253,000 after acquiring an additional 2,443 shares during the last quarter. Revolve Wealth Partners LLC purchased a new position in Allstate during the fourth quarter worth approximately $231,000. Envestnet Asset Management Inc. boosted its holdings in shares of Allstate by 3.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 257,473 shares of the insurance provider’s stock valued at $51,832,000 after purchasing an additional 9,544 shares during the last quarter. Howard Capital Management Inc. boosted its holdings in shares of Allstate by 11.6% in the 2nd quarter. Howard Capital Management Inc. now owns 1,685 shares of the insurance provider’s stock valued at $341,000 after purchasing an additional 175 shares during the last quarter. Finally, Arkadios Wealth Advisors grew its stake in shares of Allstate by 8.4% during the 2nd quarter. Arkadios Wealth Advisors now owns 5,370 shares of the insurance provider’s stock valued at $1,081,000 after buying an additional 415 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Allstate

In other Allstate news, insider Suren Gupta sold 19,593 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total value of $4,114,530.00. Following the sale, the insider owned 100,646 shares in the company, valued at approximately $21,135,660. This trade represents a 16.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Morgan Stanley reiterated an “equal weight” rating and issued a $215.00 target price (down from $245.00) on shares of Allstate in a report on Tuesday, December 16th. Wells Fargo & Company cut their price objective on Allstate from $228.00 to $227.00 and set an “equal weight” rating on the stock in a report on Friday, February 20th. TD Cowen cut Allstate from a “buy” rating to a “hold” rating in a report on Monday, January 12th. Cantor Fitzgerald reissued a “neutral” rating and set a $220.00 target price on shares of Allstate in a research report on Thursday, February 5th. Finally, Mizuho lifted their price target 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. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $239.29.

Allstate Price Performance

ALL stock opened at $212.57 on Friday. The stock’s 50 day moving average is $204.05 and its two-hundred day moving average is $204.49. The company has a market capitalization of $55.17 billion, a PE ratio of 5.57, a P/E/G ratio of 0.43 and a beta of 0.23. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $216.75. The company has a quick ratio of 0.43, a current ratio of 0.37 and a debt-to-equity ratio of 0.26.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.72 by $5.59. The firm had revenue of $17.35 billion for the quarter, compared to analysts’ expectations of $17.23 billion. Allstate had a return on equity of 39.20% and a net margin of 15.19%.Allstate’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $7.67 earnings per share. Analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be given a dividend of $1.08 per share. This is an increase from Allstate’s previous quarterly dividend of $1.00. This represents a $4.32 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, March 2nd. Allstate’s payout ratio is currently 11.31%.

Allstate Company 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.