GAMMA Investing LLC Has $456,000 Stock Position in The Allstate Co. (NYSE:ALL)

GAMMA Investing LLC lifted its stake in shares of The Allstate Co. (NYSE:ALL) by 36.0% during the second quarter, Holdings Channel.com reports. The firm owned 2,857 shares of the insurance provider’s stock after acquiring an additional 757 shares during the period. GAMMA Investing LLC’s holdings in Allstate were worth $456,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Confluence Wealth Services Inc. raised its holdings in Allstate by 0.9% during the first quarter. Confluence Wealth Services Inc. now owns 7,547 shares of the insurance provider’s stock worth $1,306,000 after buying an additional 65 shares during the last quarter. Brighton Jones LLC lifted its position in Allstate by 1.9% in the 4th quarter. Brighton Jones LLC now owns 3,862 shares of the insurance provider’s stock valued at $541,000 after acquiring an additional 71 shares in the last quarter. SVB Wealth LLC boosted its stake in Allstate by 1.2% during the 4th quarter. SVB Wealth LLC now owns 6,169 shares of the insurance provider’s stock valued at $864,000 after purchasing an additional 72 shares during the last quarter. St. Johns Investment Management Company LLC increased its holdings in Allstate by 2.2% during the 4th quarter. St. Johns Investment Management Company LLC now owns 3,955 shares of the insurance provider’s stock worth $554,000 after purchasing an additional 85 shares in the last quarter. Finally, Legacy Financial Advisors Inc. raised its stake in shares of Allstate by 2.8% in the fourth quarter. Legacy Financial Advisors Inc. now owns 3,367 shares of the insurance provider’s stock worth $471,000 after purchasing an additional 91 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Morgan Stanley cut their target price on Allstate from $205.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. The Goldman Sachs Group upped their target price on shares of Allstate from $197.00 to $199.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. raised their price target on shares of Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $194.00 price objective on shares of Allstate in a research report on Friday, July 5th. Finally, BMO Capital Markets raised shares of Allstate from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $190.00 to $191.00 in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $183.24.

Insider Activity at Allstate

In related news, insider Suren Gupta sold 45,775 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the sale, the insider now directly owns 89,930 shares in the company, valued at approximately $15,942,790.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.80% of the stock is owned by company insiders.

Allstate Stock Performance

Shares of ALL traded down $0.56 during mid-day trading on Friday, hitting $176.82. The stock had a trading volume of 1,699,634 shares, compared to its average volume of 1,456,058. The Allstate Co. has a 52 week low of $104.29 and a 52 week high of $180.87. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. The business has a fifty day moving average price of $164.68 and a 200-day moving average price of $164.34. The firm has a market cap of $46.69 billion, a P/E ratio of 39.03, a PEG ratio of 1.86 and a beta of 0.48.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. The business had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($4.42) EPS. On average, equities research analysts expect that The Allstate Co. will post 13.64 EPS for the current year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be issued a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Friday, August 30th. Allstate’s dividend payout ratio (DPR) is presently 81.24%.

Allstate Company Profile

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.