Hillsdale Investment Management Inc. Invests $963,000 in The Allstate Corporation $ALL

Hillsdale Investment Management Inc. purchased a new stake in shares of The Allstate Corporation (NYSE:ALL) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,485 shares of the insurance provider’s stock, valued at approximately $963,000.

Other institutional investors have also added to or reduced their stakes in the company. Guerra Pan Advisors LLC raised its stake in shares of Allstate by 1.5% during the second quarter. Guerra Pan Advisors LLC now owns 3,426 shares of the insurance provider’s stock valued at $690,000 after acquiring an additional 49 shares during the last quarter. Focus Financial Network Inc. increased its holdings in Allstate by 1.1% during the 3rd quarter. Focus Financial Network Inc. now owns 4,693 shares of the insurance provider’s stock valued at $1,012,000 after purchasing an additional 52 shares during the period. Parkside Financial Bank & Trust increased its holdings in Allstate by 4.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,189 shares of the insurance provider’s stock valued at $239,000 after purchasing an additional 53 shares during the period. L2 Asset Management LLC raised its position in Allstate by 4.8% during the 2nd quarter. L2 Asset Management LLC now owns 1,168 shares of the insurance provider’s stock valued at $235,000 after purchasing an additional 53 shares during the last quarter. Finally, Howard Capital Management Inc. lifted its holdings in Allstate by 3.2% in the 3rd quarter. Howard Capital Management Inc. now owns 1,739 shares of the insurance provider’s stock worth $373,000 after buying an additional 54 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Stock Down 0.1%

NYSE:ALL opened at $206.25 on Tuesday. 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 firm has a market cap of $53.97 billion, a P/E ratio of 5.40, a P/E/G ratio of 0.43 and a beta of 0.23. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $216.75. The firm has a 50-day simple moving average of $203.88 and a two-hundred day simple moving average of $204.38.

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

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be issued 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 of this dividend is Monday, March 2nd. This is a positive change from Allstate’s previous quarterly dividend of $1.00. Allstate’s dividend payout ratio is 11.31%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ALL shares. Citigroup upped their target price on Allstate from $216.00 to $221.00 and gave the company a “neutral” rating in a report on Tuesday, February 10th. Zacks Research cut shares of Allstate from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th. Keefe, Bruyette & Woods boosted their price target 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. Weiss Ratings reissued a “buy (b)” rating on shares of Allstate in a research note on Wednesday, January 21st. Finally, UBS Group lifted their price objective on Allstate from $250.00 to $255.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $239.29.

Insider Buying and Selling at Allstate

In other news, insider Suren Gupta sold 19,593 shares of the company’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total transaction 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. This represents a 16.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 24,129 shares of company stock valued at $5,090,270 in the last three months. 1.70% of the stock is owned by insiders.

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.