Henson Edgewater Management LLC Takes Position in The Allstate Corporation $ALL

Henson Edgewater Management LLC acquired a new stake in The Allstate Corporation (NYSE:ALL) in the second quarter, Holdings Channel.com reports. The fund acquired 8,650 shares of the insurance provider’s stock, valued at approximately $2,213,000. Allstate accounts for 1.2% of Henson Edgewater Management LLC’s holdings, making the stock its 24th largest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Beacon Pointe Advisors LLC purchased a new position in Allstate during the second quarter worth about $3,677,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Allstate in the 2nd quarter valued at approximately $210,000. RB Capital Management LLC purchased a new stake in shares of Allstate in the 2nd quarter valued at approximately $614,000. Glenview Trust Co acquired a new stake in shares of Allstate during the 2nd quarter worth approximately $33,718,000. Finally, North Star Asset Management Inc. acquired a new stake in shares of Allstate during the 2nd quarter worth approximately $281,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Allstate

In other Allstate news, Director Andrea Redmond sold 2,225 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following the sale, the director owned 2,225 shares in the company, valued at $451,474.75. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John E. Dugenske sold 32,996 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $269.33, for a total value of $8,886,812.68. Following the transaction, the insider directly owned 13,054 shares of the company’s stock, valued at approximately $3,515,833.82. This represents a 71.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 91,446 shares of company stock worth $24,208,675. Corporate insiders own 1.55% of the company’s stock.

Allstate Trading Up 1.4%

Shares of NYSE ALL opened at $261.17 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $66.04 billion, a PE ratio of 5.22, a PEG ratio of 0.39 and a beta of 0.16. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $277.22. The stock has a fifty day simple moving average of $254.14 and a 200-day simple moving average of $226.81.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, beating analysts’ consensus estimates of $6.06 by $2.93. The company had revenue of $18.60 billion during the quarter, compared to analysts’ expectations of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%.Allstate’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period last year, the business posted $5.94 EPS. On average, equities analysts forecast that The Allstate Corporation will post 34.45 earnings per share for the current year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be paid a $1.08 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. Allstate’s dividend payout ratio (DPR) is presently 8.63%.

Analyst Ratings Changes

Several analysts have recently commented on ALL shares. JPMorgan Chase & Co. lifted their price target on shares of Allstate from $282.00 to $292.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Cantor Fitzgerald increased their price objective on Allstate from $236.00 to $242.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Raymond James Financial reissued a “strong-buy” rating and set a $315.00 target price on shares of Allstate in a research note on Tuesday, August 11th. Zacks Research upgraded Allstate from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. Finally, Wall Street Zen raised Allstate from a “hold” rating to a “buy” rating in a research note on Monday, July 20th. Four research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, Allstate presently has a consensus rating of “Hold” and an average price target of $263.90.

Allstate 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.