Patrick M Sweeney & Associates Inc. Invests $471,000 in The Allstate Co. (NYSE:ALL)

Patrick M Sweeney & Associates Inc. bought a new position in shares of The Allstate Co. (NYSE:ALL) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,367 shares of the insurance provider’s stock, valued at approximately $471,000.

A number of other hedge funds have also added to or reduced their stakes in ALL. Annis Gardner Whiting Capital Advisors LLC bought a new position in Allstate in the third quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new position in Allstate in the fourth quarter valued at approximately $36,000. Venturi Wealth Management LLC increased its stake in Allstate by 152.7% in the fourth quarter. Venturi Wealth Management LLC now owns 278 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 168 shares during the last quarter. Bruce G. Allen Investments LLC bought a new position in Allstate in the fourth quarter valued at approximately $43,000. Finally, First Command Advisory Services Inc. bought a new position in Allstate in the third quarter valued at approximately $48,000. 76.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wells Fargo & Company raised 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. TD Cowen assumed coverage on shares of Allstate in a research report on Wednesday, January 10th. They issued an “outperform” rating and a $193.00 target price on the stock. Keefe, Bruyette & Woods raised their target price on shares of Allstate from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Jefferies Financial Group upgraded shares of Allstate from a “hold” rating to a “buy” rating and lifted their price target for the stock from $130.00 to $180.00 in a report on Tuesday, January 9th. Finally, Raymond James lifted their price target on shares of Allstate from $155.00 to $180.00 and gave the stock a “strong-buy” rating in a report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $174.18.

Insiders Place Their Bets

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

Allstate Price Performance

Shares of Allstate stock traded up $2.09 on Wednesday, hitting $170.28. 1,290,383 shares of the company traded hands, compared to its average volume of 1,676,950. The firm’s 50-day simple moving average is $166.44 and its 200 day simple moving average is $151.91. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. The company has a market cap of $44.94 billion, a P/E ratio of 37.66, a P/E/G ratio of 0.39 and a beta of 0.51. The Allstate Co. has a 12-month low of $100.57 and a 12-month 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, beating the consensus estimate of $4.11 by $1.02. The firm had revenue of $15.26 billion for the quarter, compared to analysts’ expectations of $12.76 billion. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company posted ($1.30) EPS. Analysts expect that The Allstate Co. will post 14.57 earnings per share for the current fiscal year.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date was Friday, March 1st. This is a boost from Allstate’s previous quarterly dividend of $0.89. Allstate’s dividend payout ratio (DPR) is presently 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.