Balyasny Asset Management L.P. Acquires New Stake in The Allstate Co. (NYSE:ALL)

Balyasny Asset Management L.P. acquired a new stake in shares of The Allstate Co. (NYSE:ALLFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 582,735 shares of the insurance provider’s stock, valued at approximately $81,571,000. Balyasny Asset Management L.P. owned about 0.22% of Allstate as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Transactions at Allstate

In other news, insider John E. Dugenske sold 31,000 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total value of $5,276,200.00. Following the sale, the insider now directly owns 63,731 shares in the company, valued at $10,847,016.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ALL. Roth Mkm upped their price objective on Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Evercore ISI upped their price objective on Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. upped their price objective on Allstate from $185.00 to $193.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Piper Sandler upped their price objective on Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Finally, HSBC raised Allstate from a “hold” rating to a “buy” rating and upped their price objective for the stock from $158.00 to $190.00 in a research note on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.59.

View Our Latest Research Report on Allstate

Allstate Trading Down 0.7 %

Shares of ALL stock opened at $163.87 on Tuesday. The Allstate Co. has a 1 year low of $100.57 and a 1 year high of $177.37. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.36 and a quick ratio of 0.36. The stock’s 50 day simple moving average is $168.35 and its two-hundred day simple moving average is $158.10. The company has a market cap of $43.25 billion, a PE ratio of 36.17, a price-to-earnings-growth ratio of 1.56 and a beta of 0.50.

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

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, May 31st will be issued 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 payout ratio is 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.

See Also

Institutional Ownership by Quarter for Allstate (NYSE:ALL)

Receive News & Ratings for Allstate Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allstate and related companies with MarketBeat.com's FREE daily email newsletter.