21,391 Shares in The Allstate Corporation $ALL Acquired by Maverick Capital Ltd.

Maverick Capital Ltd. acquired a new stake in The Allstate Corporation (NYSE:ALL) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 21,391 shares of the insurance provider’s stock, valued at approximately $4,306,000.

A number of other institutional investors have also made changes to their positions in the company. Avantax Advisory Services Inc. raised its stake in Allstate by 3.1% during the second quarter. Avantax Advisory Services Inc. now owns 23,573 shares of the insurance provider’s stock worth $4,745,000 after acquiring an additional 704 shares during the period. Commonwealth Retirement Investments LLC boosted its stake in Allstate by 103.5% in the second quarter. Commonwealth Retirement Investments LLC now owns 12,960 shares of the insurance provider’s stock valued at $2,609,000 after acquiring an additional 6,590 shares during the period. Zurich Insurance Group Ltd FI bought a new position in shares of Allstate during the first quarter valued at approximately $22,405,000. Advisors Capital Management LLC acquired a new stake in shares of Allstate during the 1st quarter worth approximately $301,000. Finally, McGowan Group Asset Management Inc. lifted its holdings in shares of Allstate by 1,020.8% in the 2nd quarter. McGowan Group Asset Management Inc. now owns 34,666 shares of the insurance provider’s stock worth $6,979,000 after purchasing an additional 31,573 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Allstate news, insider Suren Gupta sold 3,786 shares of the stock in a transaction on Friday, November 28th. The stock was sold at an average price of $215.13, for a total transaction of $814,482.18. Following the completion of the transaction, the insider directly owned 100,646 shares of the company’s stock, valued at approximately $21,651,973.98. This trade represents a 3.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 28,807 shares of company stock valued at $6,198,726 in the last three months. Corporate insiders own 1.70% of the company’s stock.

Allstate Stock Performance

ALL stock opened at $206.71 on Friday. The company has a market capitalization of $54.09 billion, a P/E ratio of 6.69, a PEG ratio of 0.38 and a beta of 0.25. The company has a 50-day simple moving average of $203.74 and a 200 day simple moving average of $202.43. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $215.89. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.32.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, November 5th. The insurance provider reported $11.17 EPS for the quarter, beating the consensus estimate of $5.48 by $5.69. Allstate had a net margin of 12.53% and a return on equity of 35.42%. The firm had revenue of $17.26 billion for the quarter, compared to analysts’ expectations of $16.59 billion. During the same quarter last year, the company earned $3.91 EPS. Allstate’s quarterly revenue was up 3.8% on a year-over-year basis. Sell-side analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $4.00 annualized dividend and a yield of 1.9%. Allstate’s payout ratio is presently 12.95%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on Allstate from $254.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Wells Fargo & Company boosted their price target on shares of Allstate from $202.00 to $216.00 and gave the company an “equal weight” rating in a report on Friday, November 7th. Keefe, Bruyette & Woods increased their price objective on shares of Allstate from $246.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, November 11th. Wolfe Research raised shares of Allstate to a “strong-buy” rating in a research note on Tuesday, September 16th. Finally, BMO Capital Markets upped their target price on shares of Allstate from $235.00 to $244.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $237.92.

Allstate Company 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.