Weil Company Inc. acquired a new position in shares of Allstate Corp (NYSE:ALL) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,056 shares of the insurance provider’s stock, valued at approximately $203,000.
Other institutional investors have also bought and sold shares of the company. Boston Partners lifted its stake in Allstate by 11.2% in the 2nd quarter. Boston Partners now owns 10,511,724 shares of the insurance provider’s stock valued at $959,406,000 after purchasing an additional 1,061,730 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Allstate by 394.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,106,269 shares of the insurance provider’s stock valued at $109,189,000 after purchasing an additional 882,348 shares during the last quarter. FMR LLC raised its holdings in Allstate by 24.7% in the 2nd quarter. FMR LLC now owns 4,096,814 shares of the insurance provider’s stock valued at $373,917,000 after acquiring an additional 811,694 shares during the period. Millennium Management LLC raised its holdings in Allstate by 101.9% in the 2nd quarter. Millennium Management LLC now owns 1,589,586 shares of the insurance provider’s stock valued at $145,082,000 after acquiring an additional 802,167 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Allstate by 37.1% in the 2nd quarter. Victory Capital Management Inc. now owns 2,103,032 shares of the insurance provider’s stock valued at $191,944,000 after acquiring an additional 569,363 shares during the period. Institutional investors own 77.15% of the company’s stock.
In related news, EVP Jesse E. Merten sold 696 shares of Allstate stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $92.12, for a total transaction of $64,115.52. Following the completion of the transaction, the executive vice president now owns 2,102 shares of the company’s stock, valued at $193,636.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Harriet K. Harty sold 10,515 shares of Allstate stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $98.87, for a total transaction of $1,039,618.05. Following the transaction, the executive vice president now directly owns 14,606 shares of the company’s stock, valued at approximately $1,444,095.22. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.
Several research analysts have weighed in on the stock. Zacks Investment Research cut shares of Allstate from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 13th. ValuEngine raised shares of Allstate from a “sell” rating to a “hold” rating in a report on Saturday, September 1st. Citigroup set a $115.00 target price on shares of Allstate and gave the stock a “buy” rating in a report on Friday, October 12th. Credit Suisse Group assumed coverage on shares of Allstate in a report on Tuesday, August 7th. They set an “outperform” rating and a $114.00 target price on the stock. Finally, Wells Fargo & Co reaffirmed a “hold” rating on shares of Allstate in a report on Thursday, August 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Allstate currently has a consensus rating of “Hold” and an average price target of $102.82.
Allstate stock traded down $2.36 during mid-day trading on Wednesday, reaching $86.40. The company had a trading volume of 3,162,921 shares, compared to its average volume of 1,681,433. Allstate Corp has a fifty-two week low of $86.18 and a fifty-two week high of $105.36. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.26 and a quick ratio of 0.26. The firm has a market capitalization of $30.72 billion, a P/E ratio of 12.88, a P/E/G ratio of 1.19 and a beta of 0.85.
Allstate (NYSE:ALL) last issued its earnings results on Wednesday, October 31st. The insurance provider reported $1.93 earnings per share for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.28). The company had revenue of $8.60 billion during the quarter, compared to analyst estimates of $8.51 billion. Allstate had a net margin of 9.38% and a return on equity of 15.48%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.60 EPS. On average, analysts expect that Allstate Corp will post 8.92 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, November 30th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.13%. Allstate’s dividend payout ratio (DPR) is presently 27.42%.
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The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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