Capstone Capital Management Ltd Buys 4,335 Shares of The Allstate Corporation $ALL

Key Points

• Capstone Capital Management initiated a position in Allstate by purchasing 4,335 shares valued at approximately $962,000. Institutional investors collectively own 76.47% of the company.
• Allstate reported quarterly EPS of $8.99, exceeding analyst expectations of $6.06, while revenue reached $18.60 billion, up 11.8% year over year.
• Analyst opinions remain mixed, resulting in a consensus “Hold” rating and an average price target of $270.19. Meanwhile, two senior insiders significantly reduced their holdings through stock sales.

Capstone Capital Management Ltd acquired a new position in The Allstate Corporation (NYSE:ALL - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,335 shares of the insurance provider's stock, valued at approximately $962,000.

Other large investors have also recently made changes to their positions in the company. Gables Capital Management Inc. purchased a new position in Allstate in the 2nd quarter worth about $26,000. Allied Private Wealth LLC purchased a new stake in Allstate in the 2nd quarter valued at about $29,000. Kelleher Financial Advisors bought a new position in Allstate in the 2nd quarter worth about $28,000. Transamerica Financial Advisors LLC purchased a new stake in shares of Allstate in the second quarter valued at approximately $32,000. Finally, Highland Investment Advisors LLC purchased a new stake in shares of Allstate in the second quarter valued at approximately $31,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Allstate news, insider John E. Dugenske sold 32,996 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the completion of the sale, the insider directly owned 13,054 shares of the company's stock, valued at approximately $3,515,833.82. This 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 hyperlink. Also, COO Mario Rizzo sold 56,225 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief operating officer owned 82,227 shares in the company, valued at $21,747,396.96. This represents a 40.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.55% of the stock is owned by insiders.

Allstate Stock Up 1.3%

Allstate stock opened at $249.94 on Wednesday. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $277.22. The business has a fifty day moving average of $246.08 and a two-hundred day moving average of $235.84. The firm has a market cap of $63.20 billion, a P/E ratio of 4.99, a P/E/G ratio of 0.55 and a beta of 0.13. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, topping the consensus estimate of $6.06 by $2.93. The firm had revenue of $18.60 billion during the quarter, compared to analyst estimates of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%. The business's revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the previous year, the company posted $5.94 EPS. On average, analysts forecast that The Allstate Corporation will post 36.20 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Argus set a $238.00 price objective on Allstate in a research note on Friday, August 28th. HSBC upgraded Allstate from a "hold" rating to a "buy" rating and set a $266.00 price objective on the stock in a report on Wednesday, October 7th. Atlantic Securities set a $319.00 target price on Allstate in a research report on Wednesday, July 15th. The Goldman Sachs Group dropped their price target on Allstate from $280.00 to $250.00 and set a "neutral" rating on the stock in a research report on Thursday, October 1st. Finally, UBS Group raised their price target on Allstate from $261.00 to $275.00 and gave the company a "neutral" rating in a research note on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Allstate currently has an average rating of "Hold" and a consensus price target of $270.19.

About Allstate

Allstate Corp. NYSE: ALL is an insurance company that provides protection products and related services primarily in the United States. Its offerings include automobile, homeowners, renters, condominium, motorcycle and other personal property and casualty insurance, distributed through agents, brokers, direct channels and digital platforms.

The company also provides roadside assistance, identity-protection services and protection plans for consumer products. Through its acquisition of National General, Allstate expanded its presence in independent-agent distribution and specialty personal insurance.

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