Acropolis Investment Management LLC raised its position in The Allstate Co. (NYSE:ALL – Get Rating) by 8.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,550 shares of the insurance provider’s stock after acquiring an additional 731 shares during the quarter. Acropolis Investment Management LLC’s holdings in Allstate were worth $1,210,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the stock. US Asset Management LLC bought a new stake in Allstate in the first quarter worth about $32,000. MCF Advisors LLC purchased a new position in Allstate in the 1st quarter worth about $34,000. Rational Advisors LLC purchased a new position in Allstate in the 1st quarter worth about $40,000. Chilton Capital Management LLC purchased a new position in Allstate during the 4th quarter valued at about $35,000. Finally, Concorde Financial Corp purchased a new position in Allstate during the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 76.17% of the company’s stock.
Allstate Price Performance
Shares of ALL stock traded down $1.10 during trading hours on Friday, hitting $126.87. 4,718 shares of the company’s stock were exchanged, compared to its average volume of 1,645,127. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.40 and a quick ratio of 0.40. The Allstate Co. has a 52 week low of $106.11 and a 52 week high of $144.46. The stock has a market cap of $34.29 billion, a price-to-earnings ratio of 44.44, a price-to-earnings-growth ratio of 4.83 and a beta of 0.71. The stock’s 50-day moving average is $123.24 and its 200-day moving average is $128.40.
Allstate Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Wednesday, August 31st will be issued a $0.85 dividend. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $3.40 annualized dividend and a dividend yield of 2.68%. Allstate’s dividend payout ratio (DPR) is currently 118.47%.
Analyst Ratings Changes
Several research firms have weighed in on ALL. Barclays lowered their target price on Allstate from $123.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Monday, August 8th. TheStreet upgraded Allstate from a “c+” rating to a “b-” rating in a report on Friday, September 16th. Raymond James reduced their price target on Allstate from $165.00 to $155.00 in a report on Thursday, July 21st. Evercore ISI lifted their price target on Allstate to $126.00 in a report on Tuesday, August 9th. Finally, Wells Fargo & Company reduced their price target on Allstate from $116.00 to $110.00 and set an “underweight” rating for the company in a report on Thursday, July 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $142.00.
Insiders Place Their Bets
In other Allstate news, EVP Mark Q. Prindiville sold 5,511 shares of the stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $125.93, for a total value of $694,000.23. Following the completion of the sale, the executive vice president now directly owns 15,552 shares in the company, valued at $1,958,463.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.77% of the company’s stock.
The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability 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 and stand-alone scheduled personal property; and commercial lines products under the Allstate and Encompass brand names.
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