Magnetar Financial LLC Purchases 46,066 Shares of The Allstate Corporation $ALL

by · The Cerbat Gem

Magnetar Financial LLC grew its position in The Allstate Corporation (NYSE:ALL – Free Report) by 802.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,809 shares of the insurance provider’s stock after purchasing an additional 46,066 shares during the period. Magnetar Financial LLC’s holdings in Allstate were worth $10,728,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Hughes Financial Services LLC acquired a new stake in shares of Allstate in the first quarter valued at approximately $28,000. Kapitalo Investimentos Ltda acquired a new position in shares of Allstate during the 4th quarter worth approximately $29,000. Meeder Asset Management Inc. raised its stake in shares of Allstate by 113.8% during the 1st quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 99 shares in the last quarter. McClarren Financial Advisors Inc. acquired a new stake in shares of Allstate in the 1st quarter valued at approximately $43,000. Finally, Mattson Financial Services LLC bought a new position in shares of Allstate in the fourth quarter valued at $44,000. 76.47% of the stock is currently owned by institutional investors.

Allstate Trading Up 0.1%

Shares of Allstate stock opened at $203.96 on Friday. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $214.76. The stock has a market cap of $53.74 billion, a PE ratio of 9.59, a PEG ratio of 0.83 and a beta of 0.35. The firm has a 50-day moving average of $199.64 and a 200-day moving average of $199.36. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43.

Allstate (NYSE:ALL – Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (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 the consensus estimate of $16.59 billion. During the same quarter in the previous year, the firm posted $1.61 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, sell-side analysts forecast that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, August 29th. Allstate’s dividend payout ratio is presently 18.81%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. BMO Capital Markets lifted their price objective on shares of Allstate from $230.00 to $235.00 and gave the company an “outperform” rating in a research report on Wednesday, August 20th. Keefe, Bruyette & Woods lifted their price target on Allstate from $237.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 6th. Wall Street Zen upgraded Allstate from a “hold” rating to a “buy” rating in a research note on Tuesday, August 5th. William Blair initiated coverage on Allstate in a research note on Friday, June 6th. They set a “sector outperform” rating for the company. Finally, Wells Fargo & Company set a $202.00 price target on Allstate and gave the company an “equal weight” rating in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Allstate has a consensus rating of “Moderate Buy” and a consensus target price of $230.73.

View Our Latest Stock Report on ALL

About Allstate

(Free Report)

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.

Further Reading

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