Martingale Asset Management L P Has $27.42 Million Stock Holdings in The Allstate Corporation $ALL

Martingale Asset Management L P decreased its stake in The Allstate Corporation (NYSE:ALL) by 6.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 127,759 shares of the insurance provider’s stock after selling 9,373 shares during the quarter. Martingale Asset Management L P’s holdings in Allstate were worth $27,423,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ALL. Harbor Capital Advisors Inc. raised its holdings in Allstate by 79.7% during the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 55 shares in the last quarter. Barnes Dennig Private Wealth Management LLC grew its stake in Allstate by 112.3% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 73 shares in the last quarter. Clearstead Trust LLC increased its position in shares of Allstate by 3,800.0% during the 2nd quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 152 shares during the last quarter. Armstrong Advisory Group Inc. increased its position in shares of Allstate by 72.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 67 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in shares of Allstate during the 3rd quarter worth approximately $37,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Down 0.4%

ALL stock opened at $204.84 on Friday. The Allstate Corporation has a 1-year low of $176.00 and a 1-year high of $216.75. The business’s 50 day simple moving average is $204.47 and its 200 day simple moving average is $204.66. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $53.16 billion, a PE ratio of 5.36, a PEG ratio of 0.43 and a beta of 0.23.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (EPS) for the quarter, beating 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 $17.35 billion during the quarter, compared to the consensus estimate of $17.23 billion. During the same quarter last year, the firm posted $7.67 EPS. The company’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, research analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be paid a dividend of $1.08 per share. The ex-dividend date is Monday, March 2nd. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.1%. This is a boost from Allstate’s previous quarterly dividend of $1.00. Allstate’s dividend payout ratio is 11.31%.

Analyst Ratings Changes

ALL has been the subject of several recent analyst reports. Raymond James Financial reissued a “strong-buy” rating and issued a $260.00 price objective on shares of Allstate in a report on Tuesday, March 3rd. William Blair downgraded shares of Allstate from an “outperform” rating to a “market perform” rating in a report on Thursday, December 18th. Citigroup increased their price target on shares of Allstate from $216.00 to $221.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Zacks Research raised shares of Allstate from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. Finally, Roth Mkm boosted their price objective on shares of Allstate from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Allstate presently has an average rating of “Moderate Buy” and an average target price of $238.88.

Insider Activity

In related news, insider Suren Gupta sold 19,593 shares of Allstate stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the completion of the sale, the insider owned 100,646 shares of the company’s stock, valued at approximately $21,135,660. The trade was a 16.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.70% of the company’s stock.

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.