Copperwynd Financial LLC Makes New Investment in The Allstate Co. (NYSE:ALL)

Copperwynd Financial LLC acquired a new stake in The Allstate Co. (NYSE:ALL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,248 shares of the insurance provider’s stock, valued at approximately $727,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Rafferty Asset Management LLC boosted its stake in Allstate by 5.7% during the fourth quarter. Rafferty Asset Management LLC now owns 92,753 shares of the insurance provider’s stock worth $12,984,000 after buying an additional 4,987 shares during the period. Lighthouse Investment Partners LLC bought a new position in Allstate during the 4th quarter valued at about $5,927,000. BDF Gestion purchased a new stake in Allstate in the 2nd quarter worth about $3,051,000. BNP Paribas Financial Markets lifted its stake in Allstate by 55.8% in the first quarter. BNP Paribas Financial Markets now owns 218,629 shares of the insurance provider’s stock worth $37,825,000 after purchasing an additional 78,316 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new position in shares of Allstate during the second quarter valued at approximately $476,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insider Activity

In related news, CEO Thomas J. Wilson sold 90,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the completion of the sale, the chief executive officer now owns 88,552 shares of the company’s stock, valued at $15,880,915.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Thomas J. Wilson sold 90,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 88,552 shares of the company’s stock, valued at $15,880,915.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Elizabeth Brady sold 49,481 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $179.09, for a total value of $8,861,552.29. Following the completion of the sale, the executive vice president now directly owns 19,163 shares of the company’s stock, valued at approximately $3,431,901.67. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 238,305 shares of company stock worth $43,082,657. Corporate insiders own 1.80% of the company’s stock.

Allstate Stock Performance

Shares of NYSE:ALL opened at $188.36 on Friday. The firm has a 50 day moving average of $181.32 and a 200 day moving average of $171.40. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $49.71 billion, a price-to-earnings ratio of 41.58, a price-to-earnings-growth ratio of 1.81 and a beta of 0.48. The Allstate Co. has a 52 week low of $109.01 and a 52 week high of $193.97.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, topping the consensus estimate of $0.33 by $1.28. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The firm had revenue of $15.71 billion during the quarter, compared to analyst estimates of $14.04 billion. During the same period in the previous year, the company posted ($4.42) EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, sell-side analysts predict that The Allstate Co. will post 15.2 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Friday, August 30th. Allstate’s payout ratio is 81.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. StockNews.com downgraded Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. Roth Mkm reiterated a “buy” rating and issued a $200.00 target price on shares of Allstate in a research note on Wednesday, August 14th. Barclays assumed coverage on shares of Allstate in a research note on Wednesday, September 4th. They set an “underweight” rating and a $175.00 target price for the company. TD Cowen raised their price target on shares of Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Finally, Morgan Stanley decreased their price objective on shares of Allstate from $205.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. One research 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $192.76.

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.