Guggenheim Capital LLC Has $10.59 Million Stock Position in Allstate Corp (NYSE:ALL)
Guggenheim Capital LLC reduced its position in Allstate Corp (NYSE:ALL) by 8.1% in the 1st quarter, HoldingsChannel reports. The firm owned 115,491 shares of the insurance provider’s stock after selling 10,214 shares during the period. Guggenheim Capital LLC’s holdings in Allstate were worth $10,594,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of ALL. Wealth Quarterback LLC acquired a new stake in Allstate in the 4th quarter valued at about $2,000,210,000. Norges Bank acquired a new stake in Allstate during the fourth quarter worth approximately $360,180,000. Deutsche Bank AG lifted its position in Allstate by 109.5% during the first quarter. Deutsche Bank AG now owns 2,987,166 shares of the insurance provider’s stock worth $274,013,000 after acquiring an additional 1,561,512 shares during the last quarter. Senator Investment Group LP acquired a new stake in Allstate during the fourth quarter worth approximately $140,562,000. Finally, Macquarie Group Ltd. lifted its position in Allstate by 14.4% during the fourth quarter. Macquarie Group Ltd. now owns 8,768,134 shares of the insurance provider’s stock worth $985,977,000 after acquiring an additional 1,105,269 shares during the last quarter. Institutional investors and hedge funds own 76.64% of the company’s stock.
In other Allstate news, CEO Thomas J. Wilson sold 652,868 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $101.32, for a total value of $66,148,585.76. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Judith A. Sprieser sold 1,783 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $99.03, for a total transaction of $176,570.49. Following the completion of the sale, the director now owns 1,783 shares in the company, valued at approximately $176,570.49. The disclosure for this sale can be found here. Insiders sold 664,021 shares of company stock worth $67,275,235 over the last three months. 1.80% of the stock is currently owned by insiders.
Allstate (NYSE:ALL) last announced its quarterly earnings data on Tuesday, May 5th. The insurance provider reported $3.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.62. The business had revenue of $9.24 billion for the quarter, compared to analysts’ expectations of $9.64 billion. Allstate had a net margin of 9.38% and a return on equity of 17.53%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $2.30 earnings per share. Equities analysts expect that Allstate Corp will post 10.68 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, May 29th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Thursday, May 28th. This represents a $2.16 dividend on an annualized basis and a yield of 2.29%. Allstate’s dividend payout ratio (DPR) is 20.71%.
ALL has been the subject of several research reports. Wells Fargo & Co restated a “hold” rating on shares of Allstate in a research report on Tuesday, May 26th. Cfra cut their price objective on shares of Allstate from $135.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. TheStreet upgraded shares of Allstate from a “c+” rating to a “b-” rating in a research report on Tuesday, April 21st. Morgan Stanley raised their price objective on shares of Allstate from $111.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Finally, Raymond James raised their target price on shares of Allstate from $110.00 to $120.00 and gave the stock a “strong-buy” rating in a report on Tuesday, April 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $116.13.
Allstate Company Profile
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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