Rhumbline Advisers Has $109.95 Million Stock Position in The Allstate Corporation $ALL

Rhumbline Advisers reduced its stake in The Allstate Corporation (NYSE:ALL) by 1.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 512,208 shares of the insurance provider’s stock after selling 5,835 shares during the quarter. Rhumbline Advisers owned about 0.19% of Allstate worth $109,946,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ALL. Vanguard Group Inc. increased its stake in shares of Allstate by 1.3% during the second quarter. Vanguard Group Inc. now owns 33,235,231 shares of the insurance provider’s stock worth $6,690,584,000 after purchasing an additional 435,145 shares during the period. Geode Capital Management LLC increased its position in Allstate by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 6,714,629 shares of the insurance provider’s stock worth $1,345,961,000 after buying an additional 79,366 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Allstate by 2.5% during the second quarter. Franklin Resources Inc. now owns 4,670,113 shares of the insurance provider’s stock worth $940,140,000 after buying an additional 112,858 shares in the last quarter. Raymond James Financial Inc. boosted its position in shares of Allstate by 3.3% in the second quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider’s stock valued at $562,388,000 after acquiring an additional 88,620 shares during the period. Finally, Boston Partners grew its stake in shares of Allstate by 7.0% in the second quarter. Boston Partners now owns 2,655,585 shares of the insurance provider’s stock valued at $535,078,000 after acquiring an additional 172,931 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Transactions at Allstate

In related news, insider Suren Gupta sold 21,871 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $215.21, for a total value of $4,706,857.91. Following the completion of the transaction, the insider owned 100,646 shares of the company’s stock, valued at $21,660,025.66. This represents a 17.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 48,400 shares of company stock worth $10,313,256. 1.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Morgan Stanley reiterated an “equal weight” rating and issued a $215.00 price objective (down previously from $245.00) on shares of Allstate in a research note on Tuesday, December 16th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $220.00 price target on shares of Allstate in a research report on Thursday, February 5th. Roth Mkm boosted their price target on Allstate from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Wall Street Zen lowered Allstate from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Citigroup increased their target price on Allstate from $216.00 to $221.00 and gave the stock a “neutral” rating in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and an average price target of $239.35.

Allstate Trading Up 1.7%

Shares of ALL opened at $204.54 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.43 and a current ratio of 0.37. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $216.75. The firm has a market cap of $53.52 billion, a price-to-earnings ratio of 5.36, a PEG ratio of 0.43 and a beta of 0.23. The business’s fifty day moving average is $203.43 and its 200-day moving average is $203.96.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, topping the consensus estimate of $8.72 by $5.59. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The business had revenue of $14.57 billion during the quarter, compared to the consensus estimate of $17.23 billion. During the same period in the prior year, the company earned $7.67 EPS. Allstate’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Monday, March 2nd. This is an increase from Allstate’s previous quarterly dividend of $1.00. Allstate’s dividend payout ratio is 10.47%.

Allstate Company Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.