Balyasny Asset Management L.P. Takes $81.57 Million Position in The Allstate Co. (NYSE:ALL)

Balyasny Asset Management L.P. bought a new stake in The Allstate Co. (NYSE:ALLFree Report) during the fourth quarter, HoldingsChannel reports. The firm bought 582,735 shares of the insurance provider’s stock, valued at approximately $81,571,000.

A number of other institutional investors have also modified their holdings of ALL. Private Wealth Management Group LLC bought a new stake in shares of Allstate during the 4th quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Allstate during the 4th quarter valued at about $36,000. Venturi Wealth Management LLC grew its position in shares of Allstate by 152.7% during the 4th quarter. Venturi Wealth Management LLC now owns 278 shares of the insurance provider’s stock valued at $39,000 after buying an additional 168 shares during the last quarter. Bruce G. Allen Investments LLC bought a new stake in shares of Allstate during the 4th quarter valued at about $43,000. Finally, Frazier Financial Advisors LLC bought a new stake in shares of Allstate during the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Activity at Allstate

In related news, insider John E. Dugenske sold 31,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total value of $5,276,200.00. Following the completion of the sale, the insider now owns 63,731 shares in the company, valued at approximately $10,847,016.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of Allstate from $146.00 to $153.00 and gave the stock an “underweight” rating in a research report on Friday, May 10th. Piper Sandler upped their target price on shares of Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. JPMorgan Chase & Co. upped their target price on shares of Allstate from $185.00 to $193.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Roth Mkm upped their target price on shares of Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, The Goldman Sachs Group upped their target price on shares of Allstate from $164.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.59.

Read Our Latest Report on Allstate

Allstate Stock Down 0.7 %

ALL stock opened at $163.87 on Tuesday. The Allstate Co. has a 12 month low of $100.57 and a 12 month high of $177.37. The firm has a market cap of $43.25 billion, a PE ratio of 36.17, a P/E/G ratio of 1.56 and a beta of 0.50. The firm has a 50 day simple moving average of $168.35 and a 200 day simple moving average of $158.10. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALLGet Free Report) last released its earnings results on Thursday, May 2nd. The insurance provider reported $5.13 EPS for the quarter, beating the consensus estimate of $4.11 by $1.02. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The business had revenue of $15.26 billion during the quarter, compared to analyst estimates of $12.76 billion. During the same period in the prior year, the business earned ($1.30) earnings per share. The business’s quarterly revenue was up 10.7% on a year-over-year basis. Equities research analysts forecast that The Allstate Co. will post 15.13 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, May 31st will be given a $0.92 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $3.68 annualized dividend and a dividend yield of 2.25%. Allstate’s dividend payout ratio (DPR) is presently 81.24%.

Allstate Company Profile

(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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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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