The Allstate Corporation $ALL Shares Sold by Aquatic Capital Management LLC

Key Points

• Aquatic Capital Management LLC reduced its stake in Allstate by 39.5% in Q3, selling 39,017 shares and retaining 59,823 shares valued at about $12.84 million.
• Other institutions increased exposure — notably Norges Bank initiated a new stake worth roughly $482.9 million and Swedbank boosted holdings by 2,157.8% to 861,725 shares — leaving 76.47% of Allstate owned by hedge funds and other institutional investors.
• Allstate beat earnings estimates with Q results of $14.31 EPS vs. $8.72 expected and $17.35 billion revenue (+5.1% y/y), and the company raised its quarterly dividend to $1.08 ($4.32 annual, ~2.1% yield).

Aquatic Capital Management LLC reduced its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 39.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 59,823 shares of the insurance provider's stock after selling 39,017 shares during the quarter. Aquatic Capital Management LLC's holdings in Allstate were worth $12,841,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Allstate during the second quarter worth about $482,870,000. Swedbank AB lifted its holdings in shares of Allstate by 2,157.8% in the 3rd quarter. Swedbank AB now owns 861,725 shares of the insurance provider's stock worth $184,969,000 after purchasing an additional 823,559 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Allstate by 52.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,385,901 shares of the insurance provider's stock valued at $279,062,000 after purchasing an additional 478,598 shares during the last quarter. Vanguard Group Inc. increased its position in Allstate by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 33,235,231 shares of the insurance provider's stock valued at $6,690,584,000 after acquiring an additional 435,145 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Allstate by 18.2% in the third quarter. Dimensional Fund Advisors LP now owns 2,606,451 shares of the insurance provider's stock worth $559,435,000 after purchasing an additional 401,700 shares during the period. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Stock Performance

Shares of NYSE ALL opened at $206.22 on Friday. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $216.75. The stock has a market capitalization of $53.52 billion, a PE ratio of 5.40, a price-to-earnings-growth ratio of 0.43 and a beta of 0.23. The stock has a 50 day moving average price of $204.52 and a 200 day moving average price of $204.70. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, beating analysts' consensus estimates of $8.72 by $5.59. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The business had revenue of $17.35 billion for the quarter, compared to analysts' expectations of $17.23 billion. During the same quarter in the prior year, the business earned $7.67 EPS. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. Analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.1%. This is a boost from Allstate's previous quarterly dividend of $1.00. The ex-dividend date is Monday, March 2nd. Allstate's dividend payout ratio (DPR) is presently 11.31%.

Analyst Ratings Changes

ALL has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on Allstate from $260.00 to $263.00 and gave the stock an "overweight" rating in a report on Thursday, February 5th. Citigroup raised their price target on Allstate from $216.00 to $221.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 10th. Roth Mkm boosted their target price on Allstate from $230.00 to $240.00 and gave the stock a "buy" rating in a report on Wednesday, November 26th. Mizuho increased their target price on shares of Allstate from $255.00 to $281.00 and gave the company an "outperform" rating in a research note on Monday, February 9th. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $231.00 target price on shares of Allstate in a research report on Thursday, March 5th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $238.88.

Insider Activity at Allstate

In other news, insider Suren Gupta sold 19,593 shares of the stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the completion of the sale, the insider directly owned 100,646 shares in the company, valued at $21,135,660. This represents a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.70% of the stock is currently owned by corporate insiders.

About Allstate

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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