TimesSquare Capital Management LLC Invests $77.82 Million in The Allstate Co. (NYSE:ALL)

TimesSquare Capital Management LLC acquired a new stake in shares of The Allstate Co. (NYSE:ALL) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 410,328 shares of the insurance provider’s stock, valued at approximately $77,819,000. Allstate makes up about 1.2% of TimesSquare Capital Management LLC’s investment portfolio, making the stock its 23rd largest position. TimesSquare Capital Management LLC owned about 0.15% of Allstate at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP purchased a new stake in shares of Allstate during the first quarter worth $566,000. Csenge Advisory Group purchased a new stake in shares of Allstate during the 1st quarter worth about $213,000. Oppenheimer & Co. Inc. lifted its holdings in shares of Allstate by 2.0% during the 1st quarter. Oppenheimer & Co. Inc. now owns 11,621 shares of the insurance provider’s stock valued at $2,011,000 after buying an additional 227 shares during the last quarter. Atomi Financial Group Inc. grew its stake in shares of Allstate by 16.6% in the 1st quarter. Atomi Financial Group Inc. now owns 2,019 shares of the insurance provider’s stock valued at $349,000 after buying an additional 288 shares in the last quarter. Finally, Fiduciary Family Office LLC increased its holdings in Allstate by 21.5% in the first quarter. Fiduciary Family Office LLC now owns 2,701 shares of the insurance provider’s stock worth $467,000 after buying an additional 478 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insiders Place Their Bets

In related news, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction dated 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 completion of the sale, the insider now directly owns 27,364 shares in the company, valued at $5,236,922.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Elizabeth Brady sold 49,481 shares of the company’s stock in a transaction dated 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 owns 19,163 shares in the company, valued at approximately $3,431,901.67. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 27,364 shares in the company, valued at approximately $5,236,922.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 192,530 shares of company stock valued at $34,967,665. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on ALL shares. JPMorgan Chase & Co. boosted their target price on shares of Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Raymond James upped their price objective on shares of Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Friday, October 4th. StockNews.com lowered Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. Morgan Stanley boosted their price target on Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, TD Cowen raised their price objective on Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.56.

Allstate Stock Up 3.3 %

Shares of NYSE ALL opened at $196.90 on Friday. The Allstate Co. has a 12-month low of $128.33 and a 12-month high of $198.79. The firm’s 50-day simple moving average is $189.09 and its 200 day simple moving average is $175.84. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. The company has a market cap of $52.14 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 1.76 and a beta of 0.48.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. The company had revenue of $16.63 billion for the quarter, compared to analyst estimates of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. Allstate’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.81 earnings per share. On average, research analysts expect that The Allstate Co. will post 15.34 earnings per share for the current fiscal year.

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.