Harvest Fund Management Co. Ltd Buys Shares of 1,039 The Allstate Co. (NYSE:ALL)

Harvest Fund Management Co. Ltd purchased a new stake in The Allstate Co. (NYSE:ALL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,039 shares of the insurance provider’s stock, valued at approximately $146,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Allstate by 11.5% in the 3rd quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock valued at $3,595,266,000 after buying an additional 3,322,673 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Allstate by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,926,917 shares of the insurance provider’s stock valued at $660,318,000 after buying an additional 172,250 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Allstate by 1.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,239,513 shares of the insurance provider’s stock valued at $472,324,000 after buying an additional 53,821 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in shares of Allstate by 23.0% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,184,211 shares of the insurance provider’s stock valued at $466,163,000 after buying an additional 782,696 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Allstate by 46.6% in the 3rd quarter. Invesco Ltd. now owns 4,121,941 shares of the insurance provider’s stock valued at $459,225,000 after buying an additional 1,311,095 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

ALL has been the subject of several research analyst reports. BMO Capital Markets boosted their price target on shares of Allstate from $140.00 to $158.00 and gave the company a “market perform” rating in a report on Friday, January 19th. Raymond James upped their target price on shares of Allstate from $155.00 to $180.00 and gave the stock a “strong-buy” rating in a research note on Monday, January 22nd. TD Cowen assumed coverage on shares of Allstate in a research note on Wednesday, January 10th. They issued an “outperform” rating and a $193.00 target price for the company. Morgan Stanley upped their target price on shares of Allstate from $187.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, HSBC raised shares of Allstate from a “hold” rating to a “buy” rating and upped their target price for the stock from $158.00 to $190.00 in a research note on Thursday, March 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.71.

Insider Buying and Selling

In related news, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the completion of the transaction, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the completion of the transaction, the insider now directly owns 63,731 shares in the company, valued at $10,847,016.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the transaction, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.

Allstate Price Performance

Allstate stock opened at $172.27 on Thursday. The Allstate Co. has a twelve month low of $100.57 and a twelve month high of $176.93. The company’s 50-day moving average price is $164.72 and its two-hundred day moving average price is $148.59. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.37 and a quick ratio of 0.37.

Allstate (NYSE:ALL) last announced its earnings results on Thursday, February 8th. The insurance provider reported $5.82 EPS for the quarter, topping the consensus estimate of $3.87 by $1.95. The company had revenue of $14.83 billion for the quarter, compared to analysts’ expectations of $12.69 billion. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the firm earned ($1.36) earnings per share. On average, equities research analysts predict that The Allstate Co. will post 13.44 EPS for the current year.

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were given a dividend of $0.92 per share. This is a positive change from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date was Friday, March 1st. This represents a $3.68 annualized dividend and a dividend yield of 2.14%. Allstate’s dividend payout ratio (DPR) is currently -296.77%.

Allstate 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.