Intech Investment Management LLC Has $7.27 Million Stake in The Allstate Corporation $ALL

Intech Investment Management LLC lessened its holdings in shares of The Allstate Corporation (NYSE:ALL) by 56.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,855 shares of the insurance provider’s stock after selling 43,395 shares during the period. Intech Investment Management LLC’s holdings in Allstate were worth $7,267,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALL. Vanguard Group Inc. grew its position in 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 buying an additional 435,145 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 purchasing an additional 79,366 shares in the last quarter. Franklin Resources Inc. raised its stake in Allstate by 2.5% in the second quarter. Franklin Resources Inc. now owns 4,670,113 shares of the insurance provider’s stock valued at $940,140,000 after purchasing an additional 112,858 shares in the last quarter. Raymond James Financial Inc. lifted its position in Allstate by 3.3% during the second quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider’s stock worth $562,388,000 after purchasing an additional 88,620 shares during the period. Finally, Boston Partners grew its stake in Allstate by 7.0% during the second quarter. Boston Partners now owns 2,655,585 shares of the insurance provider’s stock worth $535,078,000 after buying an additional 172,931 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ALL has been the subject of several analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Allstate from $254.00 to $260.00 and gave the company an “outperform” rating in a research report on Tuesday, February 10th. Evercore set a $225.00 price objective on shares of Allstate in a research report on Wednesday, January 7th. Wells Fargo & Company reduced their target price on Allstate from $228.00 to $227.00 and set an “equal weight” rating on the stock in a report on Friday, February 20th. BMO Capital Markets lifted their price target on Allstate from $235.00 to $244.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Finally, JPMorgan Chase & Co. upped their price objective on Allstate from $260.00 to $263.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Allstate presently has an average rating of “Moderate Buy” and an average target price of $239.29.

Insider Activity at Allstate

In related news, insider Suren Gupta sold 19,593 shares of Allstate stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total value of $4,114,530.00. Following the transaction, the insider directly owned 100,646 shares of the company’s stock, valued at $21,135,660. The trade was a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Allstate Price Performance

Shares of NYSE:ALL opened at $214.17 on Friday. 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 $55.59 billion, a PE ratio of 5.61, a price-to-earnings-growth ratio of 0.44 and a beta of 0.23. The firm’s fifty day moving average is $204.23 and its 200-day moving average is $204.55.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, beating analysts’ consensus estimates of $8.72 by $5.59. The business had revenue of $17.35 billion during the quarter, compared to the consensus estimate of $17.23 billion. Allstate had a return on equity of 39.20% and a net margin of 15.19%.Allstate’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $7.67 earnings per share. Sell-side analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.0%. This is a positive change from Allstate’s previous quarterly dividend of $1.00. The ex-dividend date is Monday, March 2nd. Allstate’s dividend payout ratio is 10.47%.

Allstate 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.