Dark Forest Capital Management LP Invests $320,000 in The Allstate Co. (NYSE:ALL)

Dark Forest Capital Management LP purchased a new stake in shares of The Allstate Co. (NYSE:ALL) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,002 shares of the insurance provider’s stock, valued at approximately $320,000.

Several other institutional investors have also recently bought and sold shares of the business. Daymark Wealth Partners LLC bought a new stake in shares of Allstate during the second quarter worth $209,000. AQR Capital Management LLC grew its holdings in Allstate by 181.6% during the 2nd quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock worth $114,955,000 after acquiring an additional 464,337 shares during the last quarter. Ariel Investments LLC acquired a new stake in Allstate in the 2nd quarter valued at about $38,325,000. AXA S.A. raised its stake in shares of Allstate by 228.7% in the second quarter. AXA S.A. now owns 15,782 shares of the insurance provider’s stock worth $2,520,000 after acquiring an additional 10,980 shares during the last quarter. Finally, Caxton Associates LP lifted its position in shares of Allstate by 320.2% during the second quarter. Caxton Associates LP now owns 11,914 shares of the insurance provider’s stock worth $1,902,000 after purchasing an additional 9,079 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

Allstate Stock Performance

ALL stock opened at $188.36 on Friday. The Allstate Co. has a 1-year low of $109.01 and a 1-year high of $193.97. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49. The firm has a market cap of $49.71 billion, a PE ratio of 41.58, a P/E/G ratio of 1.81 and a beta of 0.48. The business’s 50-day moving average price is $181.32 and its two-hundred day moving average price is $171.40.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share for the quarter, beating 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 business had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $14.04 billion. During the same quarter in the previous year, the business posted ($4.42) EPS. Allstate’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, research analysts forecast that The Allstate Co. will post 15.2 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders 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 is Friday, August 30th. Allstate’s dividend payout ratio is 81.24%.

Analyst Ratings Changes

A number of analysts recently weighed in on ALL shares. Piper Sandler raised their price target on shares of Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Wells Fargo & Company dropped their target price on Allstate from $177.00 to $175.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. TD Cowen raised their price target on Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Bank of America boosted their price objective on Allstate from $213.00 to $226.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $200.00 target price on shares of Allstate in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $192.76.

Insider Buying and Selling

In related news, EVP Robert Toohey sold 16,682 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $180.17, for a total value of $3,005,595.94. Following the completion of the transaction, the executive vice president now directly owns 4,873 shares of the company’s stock, valued at approximately $877,968.41. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the sale, the insider now owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Robert Toohey sold 16,682 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $180.17, for a total value of $3,005,595.94. Following the transaction, the executive vice president now directly owns 4,873 shares of the company’s stock, valued at approximately $877,968.41. The disclosure for this sale can be found here. Insiders have sold a total of 238,305 shares of company stock worth $43,082,657 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Allstate Company 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.