TD Asset Management Inc lifted its position in The Allstate Corporation (NYSE:ALL – Free Report) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 333,635 shares of the insurance provider’s stock after purchasing an additional 6,460 shares during the quarter. TD Asset Management Inc owned about 0.13% of Allstate worth $69,446,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Navalign LLC purchased a new stake in shares of Allstate in the fourth quarter valued at about $27,000. Dorato Capital Management purchased a new stake in shares of Allstate in the fourth quarter valued at about $27,000. Palisade Asset Management LLC purchased a new stake in shares of Allstate in the third quarter valued at about $31,000. Princeton Global Asset Management LLC grew its holdings in shares of Allstate by 101.3% in the fourth quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 76 shares during the period. Finally, South Plains Financial Inc. boosted its stake in Allstate by 41.5% during the third quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock worth $36,000 after buying an additional 49 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.
Analyst Upgrades and Downgrades
ALL has been the subject of several research analyst reports. Barclays increased their target price on shares of Allstate from $207.00 to $208.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 8th. Zacks Research lowered shares of Allstate from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $231.00 target price on shares of Allstate in a research note on Thursday, March 5th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $260.00 target price on shares of Allstate in a research note on Tuesday, March 3rd. Finally, Weiss Ratings raised shares of Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, March 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.67.
Insider Transactions at Allstate
In other news, insider Mark Q. Prindiville sold 1,550 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the sale, the insider owned 27,558 shares of the company’s stock, valued at approximately $5,959,968.66. This represents a 5.32% 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. Also, Director Andrea Redmond sold 2,225 shares of the 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 directly owned 2,225 shares in the company, valued at $451,474.75. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 22,353 shares of company stock valued at $4,851,560. 1.55% of the stock is currently owned by corporate insiders.
Allstate Stock Up 4.8%
Shares of ALL opened at $220.98 on Friday. The stock has a market capitalization of $56.88 billion, a PE ratio of 4.87, a P/E/G ratio of 0.38 and a beta of 0.18. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $227.62. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The company’s 50-day simple moving average is $213.31 and its 200-day simple moving average is $208.65.
Allstate (NYSE:ALL – Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.31 by $3.34. The business had revenue of $16.94 billion for the quarter, compared to analysts’ expectations of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.53 earnings per share. Analysts forecast that The Allstate Corporation will post 29.43 earnings per share for the current fiscal year.
Allstate Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, June 1st. Allstate’s dividend payout ratio is currently 9.53%.
About Allstate
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.
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