M&T Bank Corp Lowers Stake in The Allstate Co. (NYSE:ALL)

M&T Bank Corp lessened its position in The Allstate Co. (NYSE:ALL) by 1.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 80,984 shares of the insurance provider’s stock after selling 1,435 shares during the period. M&T Bank Corp’s holdings in Allstate were worth $11,337,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Allstate by 1.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 47,248 shares of the insurance provider’s stock valued at $5,264,000 after purchasing an additional 466 shares during the period. Pinnacle Associates Ltd. purchased a new position in Allstate during the 3rd quarter valued at about $209,000. Stratos Wealth Partners LTD. increased its holdings in Allstate by 21.6% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 9,032 shares of the insurance provider’s stock valued at $1,006,000 after acquiring an additional 1,607 shares in the last quarter. Brown Advisory Inc. increased its holdings in Allstate by 6.5% during the 3rd quarter. Brown Advisory Inc. now owns 29,311 shares of the insurance provider’s stock valued at $3,266,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Forsta AP Fonden increased its holdings in Allstate by 2.5% during the 3rd quarter. Forsta AP Fonden now owns 57,400 shares of the insurance provider’s stock valued at $6,395,000 after acquiring an additional 1,400 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ALL. Evercore ISI raised their target price on shares of Allstate from $166.00 to $173.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Roth Mkm boosted their target price on shares of Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a report on Monday, April 8th. TD Cowen initiated coverage on shares of Allstate in a report on Wednesday, January 10th. They issued an “outperform” rating and a $193.00 target price for the company. Jefferies Financial Group upgraded shares of Allstate from a “hold” rating to a “buy” rating and boosted their target price for the company from $130.00 to $180.00 in a report on Tuesday, January 9th. Finally, HSBC upgraded shares of Allstate from a “hold” rating to a “buy” rating and boosted their target price for the company from $158.00 to $190.00 in a report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $174.18.

Allstate Stock Down 0.6 %

Allstate stock opened at $168.18 on Monday. The company has a 50-day simple moving average of $166.06 and a 200-day simple moving average of $151.27. The firm has a market capitalization of $44.39 billion, a P/E ratio of 37.13, a P/E/G ratio of 0.39 and a beta of 0.51. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.36. The Allstate Co. has a one year low of $100.57 and a one year high of $177.37.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, topping the consensus estimate of $4.11 by $1.02. The business had revenue of $15.26 billion during the quarter, compared to the consensus estimate of $12.76 billion. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.30) earnings per share. As a group, equities analysts expect that The Allstate Co. will post 14.57 earnings per share for the current year.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were issued a $0.92 dividend. This is an increase from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date was Friday, March 1st. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.19%. Allstate’s dividend payout ratio is currently 81.24%.

About Allstate

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.