Graham Capital Management L.P. Has $7.08 Million Stock Position in The Allstate Corporation $ALL

Graham Capital Management L.P. lifted its stake in shares of The Allstate Corporation (NYSE:ALL) by 47.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,011 shares of the insurance provider’s stock after purchasing an additional 10,996 shares during the quarter. Graham Capital Management L.P.’s holdings in Allstate were worth $7,079,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ALL. Dorato Capital Management acquired a new stake in shares of Allstate during the 4th quarter worth $27,000. Navalign LLC acquired a new stake in Allstate in the fourth quarter valued at about $27,000. Princeton Global Asset Management LLC boosted its stake in Allstate by 101.3% in the fourth quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock valued at $31,000 after buying an additional 76 shares in the last quarter. Palisade Asset Management LLC acquired a new stake in Allstate in the third quarter valued at about $31,000. Finally, Cornerstone Financial Management LLC acquired a new stake in Allstate in the fourth quarter valued at about $32,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Weiss Ratings raised Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, March 23rd. Citigroup raised their price objective on Allstate from $221.00 to $226.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Mizuho cut their target price on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, March 20th. Piper Sandler reaffirmed an “overweight” rating on shares of Allstate in a research note on Thursday, May 28th. Finally, Wall Street Zen cut shares of Allstate from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $240.33.

Allstate Stock Performance

NYSE:ALL opened at $223.35 on Wednesday. The stock has a market cap of $57.49 billion, a P/E ratio of 4.93, a price-to-earnings-growth ratio of 0.40 and a beta of 0.19. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The stock’s 50-day moving average is $215.29 and its 200-day moving average is $209.04. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $227.62.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping the consensus estimate of $7.31 by $3.34. The company had revenue of $16.94 billion for the quarter, compared to analysts’ expectations of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business posted $3.53 earnings per share. Equities research analysts anticipate that The Allstate Corporation will post 29.43 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Monday, June 1st. Allstate’s payout ratio is 9.53%.

Insider Transactions at Allstate

In other news, insider Mark Q. Prindiville sold 1,550 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the sale, the insider directly owned 27,558 shares in the company, valued at approximately $5,959,968.66. The trade was a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Mario Rizzo sold 18,578 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $218.80, for a total value of $4,064,866.40. Following the sale, the chief operating officer owned 82,227 shares in the company, valued at approximately $17,991,267.60. This trade represents a 18.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 22,353 shares of company stock worth $4,851,560. Insiders own 1.55% of the company’s stock.

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.