DRW Securities LLC Takes $340,000 Position in The Allstate Co. (NYSE:ALL)

DRW Securities LLC bought a new position in shares of The Allstate Co. (NYSE:ALL) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,131 shares of the insurance provider’s stock, valued at approximately $340,000.

Several other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in Allstate by 1.8% during the 1st quarter. Bank of New York Mellon Corp now owns 5,112,468 shares of the insurance provider’s stock worth $884,508,000 after purchasing an additional 90,390 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Allstate by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock worth $229,545,000 after buying an additional 47,038 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of Allstate by 3.3% during the second quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider’s stock worth $160,948,000 after buying an additional 31,789 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Allstate by 1.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 818,489 shares of the insurance provider’s stock valued at $130,680,000 after buying an additional 8,454 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in Allstate by 11.8% in the first quarter. Russell Investments Group Ltd. now owns 716,757 shares of the insurance provider’s stock valued at $123,574,000 after acquiring an additional 75,698 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Price Performance

NYSE ALL opened at $192.82 on Tuesday. The company has a market capitalization of $50.89 billion, a PE ratio of 42.57, a price-to-earnings-growth ratio of 1.74 and a beta of 0.48. The Allstate Co. has a 12-month low of $109.01 and a 12-month high of $193.97. The firm’s 50 day moving average is $179.94 and its 200-day moving average is $170.61. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating the consensus estimate of $0.33 by $1.28. The firm had revenue of $15.71 billion during 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 business’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($4.42) earnings per share. Equities research analysts anticipate that The Allstate Co. will post 15.16 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Friday, August 30th. Allstate’s dividend payout ratio (DPR) is presently 81.24%.

Analyst Upgrades and Downgrades

Several analysts have commented on ALL shares. Barclays started coverage on shares of Allstate in a research report on Wednesday, September 4th. They set an “underweight” rating and a $175.00 target price for the company. Roth Mkm reaffirmed a “buy” rating and issued a $200.00 price target on shares of Allstate in a research note on Wednesday, August 14th. BMO Capital Markets lifted their price target on shares of Allstate from $191.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. StockNews.com cut shares of Allstate from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 21st. Finally, TD Cowen lifted their price objective on Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $192.76.

Insider Activity

In other news, CEO Thomas J. Wilson sold 90,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total value of $16,140,600.00. Following the sale, the chief executive officer now directly owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Robert Toohey sold 16,682 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the completion of the sale, the executive vice president now owns 4,873 shares in the company, valued at approximately $877,968.41. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Thomas J. Wilson sold 90,000 shares of Allstate stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the sale, the chief executive officer now directly owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. The disclosure for this sale can be found here. Insiders sold a total of 201,938 shares of company stock valued at $36,122,740 in the last quarter. Company insiders own 1.80% of the company’s stock.

Allstate 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.