Tidal Investments LLC Has $7.73 Million Stock Holdings in The Allstate Co. (NYSE:ALL)

Tidal Investments LLC raised its stake in The Allstate Co. (NYSE:ALL) by 28.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 40,759 shares of the insurance provider’s stock after buying an additional 8,977 shares during the period. Tidal Investments LLC’s holdings in Allstate were worth $7,730,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. OFI Invest Asset Management acquired a new position in Allstate in the 2nd quarter valued at approximately $476,000. Eagle Asset Management Inc. raised its position in shares of Allstate by 38.0% during the third quarter. Eagle Asset Management Inc. now owns 10,497 shares of the insurance provider’s stock worth $2,067,000 after acquiring an additional 2,888 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Allstate by 1.7% in the third quarter. Bank of Montreal Can now owns 683,574 shares of the insurance provider’s stock worth $128,758,000 after acquiring an additional 11,195 shares during the period. Blueshift Asset Management LLC bought a new stake in Allstate in the third quarter valued at approximately $623,000. Finally, Hsbc Holdings PLC increased its position in Allstate by 3.3% during the 2nd quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider’s stock valued at $160,948,000 after purchasing an additional 31,789 shares during the period. Institutional investors own 76.47% of the company’s stock.

Insider Buying and Selling

In other news, insider John E. Dugenske sold 36,367 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the sale, the insider now owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. The trade was a 57.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ALL has been the topic of a number of analyst reports. BMO Capital Markets upped their price objective on shares of Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. UBS Group lifted their target price on Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Bank of America increased their price target on Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Wells Fargo & Company boosted their target price on shares of Allstate from $175.00 to $186.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Finally, Raymond James lifted their price target on shares of Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and an average price target of $217.19.

Allstate Price Performance

Allstate stock opened at $192.30 on Friday. The Allstate Co. has a 52 week low of $134.17 and a 52 week high of $209.88. The company’s 50 day moving average price is $194.84 and its two-hundred day moving average price is $181.08. The stock has a market cap of $50.92 billion, a P/E ratio of 12.45, a P/E/G ratio of 1.79 and a beta of 0.50. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The business had revenue of $16.63 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same period last year, the business posted $0.81 earnings per share. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, equities analysts predict that The Allstate Co. will post 16.26 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Friday, November 29th. Allstate’s dividend payout ratio (DPR) is presently 23.83%.

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.