Lecap Asset Management Ltd. Increases Position in The Allstate Corporation $ALL

Lecap Asset Management Ltd. raised its position in shares of The Allstate Corporation (NYSE:ALL) by 18.7% during the second quarter, HoldingsChannel reports. The firm owned 8,812 shares of the insurance provider’s stock after purchasing an additional 1,390 shares during the period. Lecap Asset Management Ltd.’s holdings in Allstate were worth $1,774,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALL. Price T Rowe Associates Inc. MD boosted its stake in shares of Allstate by 25.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,709,610 shares of the insurance provider’s stock valued at $2,424,710,000 after purchasing an additional 2,374,684 shares in the last quarter. Boston Partners lifted its stake in shares of Allstate by 613.9% in the 1st quarter. Boston Partners now owns 2,482,654 shares of the insurance provider’s stock valued at $512,627,000 after acquiring an additional 2,134,893 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Allstate by 27.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,328,070 shares of the insurance provider’s stock valued at $482,073,000 after acquiring an additional 497,982 shares during the period. Strs Ohio purchased a new position in Allstate in the 1st quarter worth approximately $84,408,000. Finally, AQR Capital Management LLC raised its holdings in Allstate by 20.3% during the 1st quarter. AQR Capital Management LLC now owns 2,018,403 shares of the insurance provider’s stock valued at $417,244,000 after buying an additional 340,150 shares during the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Trading Down 1.7%

Allstate stock opened at $211.00 on Thursday. The Allstate Corporation has a 12 month low of $176.00 and a 12 month high of $215.70. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. The business’s fifty day simple moving average is $204.10 and its two-hundred day simple moving average is $201.02. The company has a market capitalization of $55.60 billion, a price-to-earnings ratio of 9.92, a price-to-earnings-growth ratio of 0.84 and a beta of 0.38.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.20 by $2.74. The firm had revenue of $15.05 billion during the quarter, compared to analyst estimates of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.Allstate’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.61 EPS. As a group, equities analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th were given a $1.00 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a yield of 1.9%. Allstate’s payout ratio is 18.81%.

Analyst Upgrades and Downgrades

ALL has been the subject of a number of recent analyst reports. Morgan Stanley upped their target price on Allstate from $235.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Jefferies Financial Group raised their target price on shares of Allstate from $254.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Wells Fargo & Company set a $202.00 price target on shares of Allstate and gave the stock an “equal weight” rating in a research note on Tuesday, August 5th. Roth Capital set a $230.00 price objective on Allstate and gave the company a “buy” rating in a research report on Friday, September 26th. Finally, Barclays reaffirmed an “underweight” rating and issued a $198.00 price target (up from $188.00) on shares of Allstate in a research note on Thursday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $231.56.

About Allstate

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.