GDS Wealth Management Has $20.83 Million Stock Holdings in The Allstate Corporation $ALL

GDS Wealth Management lifted its position in The Allstate Corporation (NYSE:ALL) by 3.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 97,025 shares of the insurance provider’s stock after buying an additional 3,370 shares during the quarter. Allstate comprises approximately 1.4% of GDS Wealth Management’s holdings, making the stock its 26th largest position. GDS Wealth Management’s holdings in Allstate were worth $20,826,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harbor Capital Advisors Inc. lifted its position in Allstate by 79.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 55 shares during the last quarter. Barnes Dennig Private Wealth Management LLC increased its stake in shares of Allstate by 112.3% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 73 shares during the period. Clearstead Trust LLC lifted its position in shares of Allstate by 3,800.0% during the 2nd quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 152 shares during the last quarter. Armstrong Advisory Group Inc. lifted its position in shares of Allstate by 72.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 67 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Allstate by 315.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 126 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on ALL shares. UBS Group lifted their price target on Allstate from $250.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. BMO Capital Markets upped their target price on shares of Allstate from $235.00 to $244.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. increased their price target on shares of Allstate from $254.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Zacks Research lowered shares of Allstate from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th. Finally, TD Cowen downgraded shares of Allstate from a “buy” rating to a “hold” rating in a report on Monday, January 12th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and an average target price of $236.19.

Insider Activity

In related news, insider Suren Gupta sold 21,871 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $215.21, for a total transaction of $4,706,857.91. Following the completion of the transaction, the insider owned 100,646 shares in the company, valued at $21,660,025.66. This trade represents a 17.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 48,400 shares of company stock valued at $10,313,256. Corporate insiders own 1.70% of the company’s stock.

Allstate Stock Down 0.9%

ALL opened at $193.54 on Friday. The company has a market capitalization of $50.65 billion, a P/E ratio of 6.27, a P/E/G ratio of 0.42 and a beta of 0.24. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.43 and a quick ratio of 0.43. The firm’s fifty day moving average price is $205.96 and its two-hundred day moving average price is $203.32. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $215.89.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $11.17 EPS for the quarter, topping analysts’ consensus estimates of $5.48 by $5.69. The company had revenue of $17.26 billion during the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a net margin of 12.53% and a return on equity of 35.42%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm earned $3.91 EPS. On average, analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Monday, December 1st. Allstate’s dividend payout ratio is currently 12.95%.

Allstate Company Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.