Allstate Corp (ALL) Position Cut by Chemical Bank

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Chemical Bank reduced its holdings in shares of Allstate Corp (NYSE:ALL) by 3.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,550 shares of the insurance provider’s stock after selling 1,320 shares during the period. Chemical Bank’s holdings in Allstate were worth $2,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Ipswich Investment Management Co. Inc. acquired a new position in shares of Allstate in the fourth quarter valued at about $25,000. 1 North Wealth Services LLC acquired a new position in shares of Allstate in the fourth quarter valued at about $25,000. We Are One Seven LLC acquired a new position in shares of Allstate in the fourth quarter valued at about $27,000. Oregon Public Employees Retirement Fund increased its holdings in shares of Allstate by 8,063.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,165,142 shares of the insurance provider’s stock valued at $38,000 after purchasing an additional 3,126,372 shares during the period. Finally, NuWave Investment Management LLC increased its holdings in shares of Allstate by 870.8% in the fourth quarter. NuWave Investment Management LLC now owns 466 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 418 shares during the period. 78.05% of the stock is currently owned by institutional investors.

Shares of ALL opened at $94.38 on Monday. Allstate Corp has a 52 week low of $77.00 and a 52 week high of $102.73. The company has a current ratio of 0.27, a quick ratio of 0.26 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $32.51 billion, a PE ratio of 11.70, a P/E/G ratio of 1.22 and a beta of 0.82.

Allstate (NYSE:ALL) last issued its earnings results on Tuesday, February 5th. The insurance provider reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.23. Allstate had a return on equity of 14.00% and a net margin of 5.66%. The firm had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.66 billion. During the same quarter in the prior year, the business earned $2.09 earnings per share. The company’s revenue was up 6.2% compared to the same quarter last year. On average, research analysts predict that Allstate Corp will post 9.24 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Thursday, February 28th will be paid a $0.50 dividend. This is an increase from Allstate’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Wednesday, February 27th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.12%. Allstate’s dividend payout ratio is presently 22.80%.

A number of research analysts have recently weighed in on the company. ValuEngine raised Allstate from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Zacks Investment Research raised Allstate from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Thursday, February 7th. Credit Suisse Group set a $112.00 price objective on Allstate and gave the company a “buy” rating in a report on Wednesday, November 14th. William Blair raised Allstate from an “underperform” rating to a “market perform” rating in a report on Wednesday, February 6th. Finally, Morgan Stanley cut their price objective on Allstate from $105.00 to $102.00 and set a “hold” rating on the stock in a report on Wednesday, November 14th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. Allstate currently has a consensus rating of “Hold” and an average target price of $101.27.

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Allstate Profile

The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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