MainStreet Investment Advisors LLC boosted its position in Allstate Corp (NYSE:ALL) by 16.9% during the first quarter, HoldingsChannel reports. The fund owned 11,012 shares of the insurance provider’s stock after buying an additional 1,590 shares during the quarter. MainStreet Investment Advisors LLC’s holdings in Allstate were worth $1,010,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in ALL. Janney Montgomery Scott LLC raised its stake in Allstate by 13.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 38,023 shares of the insurance provider’s stock valued at $4,276,000 after acquiring an additional 4,556 shares during the period. Candriam Luxembourg S.C.A. raised its stake in Allstate by 38.6% in the 4th quarter. Candriam Luxembourg S.C.A. now owns 320,511 shares of the insurance provider’s stock valued at $36,041,000 after acquiring an additional 89,264 shares during the period. NEXT Financial Group Inc raised its stake in Allstate by 9.7% in the 4th quarter. NEXT Financial Group Inc now owns 4,530 shares of the insurance provider’s stock valued at $510,000 after acquiring an additional 402 shares during the period. Exane Derivatives raised its stake in Allstate by 27.5% in the 4th quarter. Exane Derivatives now owns 687 shares of the insurance provider’s stock valued at $78,000 after acquiring an additional 148 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in Allstate in the 4th quarter valued at about $54,000. Institutional investors and hedge funds own 76.93% of the company’s stock.
A number of equities research analysts recently issued reports on the company. Raymond James boosted their price objective on Allstate from $110.00 to $120.00 and gave the company a “strong-buy” rating in a research note on Tuesday, April 21st. Morgan Stanley upped their price target on Allstate from $111.00 to $115.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. TheStreet upgraded Allstate from a “c+” rating to a “b-” rating in a research report on Tuesday, April 21st. Argus upped their price target on Allstate from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Finally, Citigroup decreased their price target on Allstate from $135.00 to $119.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $115.31.
Allstate (NYSE:ALL) last issued its quarterly earnings data on Tuesday, May 5th. The insurance provider reported $3.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.92 by $0.62. The company had revenue of $9.24 billion during the quarter, compared to analyst estimates of $9.64 billion. Allstate had a return on equity of 17.53% and a net margin of 9.38%. Allstate’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.30 earnings per share. Equities analysts expect that Allstate Corp will post 11.45 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, May 29th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Thursday, May 28th. Allstate’s dividend payout ratio is currently 20.71%.
In other Allstate news, CFO Mario Rizzo sold 6,670 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $101.39, for a total value of $676,271.30. Following the completion of the sale, the chief financial officer now owns 28,235 shares of the company’s stock, valued at $2,862,746.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Thomas J. Wilson sold 652,868 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $101.32, for a total value of $66,148,585.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 662,238 shares of company stock valued at $67,098,664. 1.80% of the stock is owned by insiders.
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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