Parallax Volatility Advisers L.P. Purchases Shares of 6,844 The Allstate Corporation $ALL

Parallax Volatility Advisers L.P. acquired a new position in The Allstate Corporation (NYSE:ALL - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 6,844 shares of the insurance provider's stock, valued at approximately $1,628,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. MV Capital Management Inc. purchased a new position in Allstate in the fourth quarter valued at approximately $25,000. Gables Capital Management Inc. purchased a new stake in Allstate during the second quarter worth approximately $26,000. Navalign LLC acquired a new stake in shares of Allstate in the fourth quarter worth $27,000. Kelleher Financial Advisors acquired a new stake in shares of Allstate in the second quarter worth $28,000. Finally, Evolution Wealth Management Inc. lifted its holdings in shares of Allstate by 7,000.0% during the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider's stock valued at $29,000 after acquiring an additional 140 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Stock Performance

Allstate stock opened at $262.08 on Thursday. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $277.22. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24. The stock has a market cap of $66.27 billion, a P/E ratio of 5.23, a price-to-earnings-growth ratio of 0.39 and a beta of 0.16. The stock has a 50 day moving average of $252.60 and a 200-day moving average of $226.21.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.06 by $2.93. The business had revenue of $18.60 billion during the quarter, compared to analyst estimates of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The business's revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.94 earnings per share. On average, analysts expect that The Allstate Corporation will post 34.45 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 annualized dividend and a dividend yield of 1.6%. Allstate's dividend payout ratio (DPR) is presently 8.63%.

Analysts Set New Price Targets

Several analysts recently issued reports on ALL shares. Raymond James Financial reiterated a "strong-buy" rating and issued a $315.00 price target on shares of Allstate in a report on Tuesday, August 11th. Weiss Ratings cut Allstate from a "buy (a)" rating to a "buy (a-)" rating in a research note on Tuesday. Evercore set a $240.00 target price on Allstate in a research report on Friday, July 10th. Zacks Research upgraded Allstate from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 17th. Finally, Keefe, Bruyette & Woods reiterated an "underperform" rating and set a $250.00 target price (down from $255.00) on shares of Allstate in a report on Thursday, August 20th. Four investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Allstate has an average rating of "Hold" and a consensus target price of $265.26.

Insider Transactions at Allstate

In other Allstate news, COO Mario Rizzo sold 56,225 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, insider John E. Dugenske sold 32,996 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $269.33, for a total value of $8,886,812.68. Following the transaction, the insider directly owned 13,054 shares in the company, valued at approximately $3,515,833.82. This represents a 71.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 91,446 shares of company stock valued at $24,208,675. 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.

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