Lecap Asset Management Ltd. Buys 1,390 Shares of The Allstate Corporation $ALL

Key Points

• Lecap Asset Management Ltd. increased its stake in The Allstate Corporation by 18.7%, owning a total of 8,812 shares now valued at approximately $1.77 million.
• Several institutional investors have also purchased shares, leading to 76.47% institutional ownership of Allstate's stock.
• Allstate recently announced a quarterly dividend of $1.00 per share, resulting in an annualized dividend yield of 1.9%.

Lecap Asset Management Ltd. grew its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 18.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the business. DMKC Advisory Services LLC acquired a new position in shares of Allstate during the second quarter valued at about $2,000,000. Consolidated Planning Corp lifted its stake in Allstate by 2.5% during the 2nd quarter. Consolidated Planning Corp now owns 21,790 shares of the insurance provider's stock valued at $4,387,000 after acquiring an additional 534 shares in the last quarter. USA Financial Formulas bought a new stake in shares of Allstate in the 2nd quarter worth $247,000. Trust Co. of Vermont raised its holdings in shares of Allstate by 0.6% in the second quarter. Trust Co. of Vermont now owns 24,961 shares of the insurance provider's stock valued at $5,025,000 after purchasing an additional 159 shares during the last quarter. Finally, Cooper Financial Group lifted its position in shares of Allstate by 5.5% during the second quarter. Cooper Financial Group now owns 1,057 shares of the insurance provider's stock valued at $213,000 after purchasing an additional 55 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company's stock.

Analyst Upgrades and Downgrades

ALL has been the subject of a number of recent analyst reports. BMO Capital Markets upped their price objective on shares of Allstate from $230.00 to $235.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 20th. UBS Group boosted their price objective on Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Citigroup upgraded Allstate to a "hold" rating in a research note on Wednesday, August 13th. Keefe, Bruyette & Woods boosted their price target on shares of Allstate from $237.00 to $246.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Finally, Cantor Fitzgerald upgraded shares of Allstate to a "hold" rating in a research note on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Allstate presently has a consensus rating of "Moderate Buy" and an average price target of $231.56.

Allstate Trading Down 1.7%

Shares of ALL stock opened at $211.00 on Thursday. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $215.70. The stock has a market capitalization of $55.60 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 0.84 and a beta of 0.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The company's fifty day simple moving average is $204.10 and its two-hundred day simple moving average is $201.02.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, beating analysts' consensus estimates of $3.20 by $2.74. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The firm had revenue of $15.05 billion during the quarter, compared to analyst estimates of $16.59 billion. During the same period in the previous year, the business earned $1.61 EPS. The business's revenue for the quarter was up 5.8% on a year-over-year basis. As a group, analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 1.9%. Allstate's payout ratio is presently 18.81%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.