Amalgamated Bank Lowers Holdings in The Allstate Co. (NYSE:ALL)

Amalgamated Bank reduced its stake in shares of The Allstate Co. (NYSE:ALL) by 8.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 64,879 shares of the insurance provider’s stock after selling 5,605 shares during the quarter. Amalgamated Bank’s holdings in Allstate were worth $9,082,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Allstate by 11.5% during the third quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock worth $3,595,266,000 after acquiring an additional 3,322,673 shares during the period. Invesco Ltd. boosted its holdings in Allstate by 46.6% in the 3rd quarter. Invesco Ltd. now owns 4,121,941 shares of the insurance provider’s stock worth $459,225,000 after buying an additional 1,311,095 shares during the last quarter. Diamond Hill Capital Management Inc. increased its stake in Allstate by 23.0% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,184,211 shares of the insurance provider’s stock worth $466,163,000 after buying an additional 782,696 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Allstate by 49.5% in the third quarter. Nordea Investment Management AB now owns 1,640,174 shares of the insurance provider’s stock valued at $183,388,000 after acquiring an additional 542,842 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of Allstate by 16.9% in the third quarter. Morgan Stanley now owns 3,701,607 shares of the insurance provider’s stock worth $412,396,000 after acquiring an additional 536,137 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ALL. Wells Fargo & Company increased their target price on shares of Allstate from $145.00 to $146.00 and gave the company an “underweight” rating in a research report on Thursday, April 11th. Morgan Stanley raised their price target on Allstate from $187.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. TheStreet upgraded Allstate from a “c+” rating to a “b” rating in a report on Wednesday, February 7th. The Goldman Sachs Group raised their target price on Allstate from $164.00 to $195.00 and gave the company a “buy” rating in a report on Monday, March 25th. Finally, Roth Mkm boosted their price target on shares of Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. One investment 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.18.

Insider Activity

In other news, insider John E. Dugenske sold 31,000 shares of the 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 sale, the insider now owns 63,731 shares in the company, valued at $10,847,016.20. 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 the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the completion of the sale, the insider now owns 63,731 shares in the company, valued at $10,847,016.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 in the company, valued at $1,712,069.92. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Allstate Stock Down 0.6 %

Shares of NYSE:ALL opened at $168.18 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.37 and a debt-to-equity ratio of 0.48. The firm has a 50 day simple moving average of $166.06 and a 200-day simple moving average of $150.95. The company has a market capitalization of $44.39 billion, a PE ratio of 37.13, a P/E/G ratio of 0.39 and a beta of 0.51. The Allstate Co. has a twelve month low of $100.57 and a twelve month high of $177.37.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, beating analysts’ consensus estimates of $4.11 by $1.02. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The firm had revenue of $15.26 billion during the quarter, compared to analysts’ expectations of $12.76 billion. During the same period in the previous year, the company earned ($1.30) earnings per share. Allstate’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, equities analysts predict that The Allstate Co. will post 14.57 EPS for the current fiscal year.

Allstate Increases Dividend

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

Allstate Company 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.