Hallmark Capital Management Inc. Takes $237,000 Position in Allstate Corp (ALL)

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Hallmark Capital Management Inc. bought a new stake in shares of Allstate Corp (NYSE:ALL) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,866 shares of the insurance provider’s stock, valued at approximately $237,000.

Several other large investors also recently made changes to their positions in ALL. Ipswich Investment Management Co. Inc. purchased a new position in Allstate in the fourth quarter worth $25,000. 1 North Wealth Services LLC purchased a new position in Allstate in the fourth quarter worth $25,000. We Are One Seven LLC purchased a new position in Allstate in the fourth quarter worth $27,000. NuWave Investment Management LLC boosted its position in Allstate by 870.8% in the fourth quarter. NuWave Investment Management LLC now owns 466 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 418 shares during the last quarter. Finally, Laurel Wealth Advisors LLC purchased a new position in Allstate in the fourth quarter worth $42,000. 77.60% of the stock is currently owned by institutional investors.

ALL has been the topic of several research analyst reports. Zacks Investment Research cut Allstate from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 18th. Edward Jones raised Allstate from a “sell” rating to a “hold” rating in a research report on Tuesday, December 11th. Bank of America cut their price objective on Allstate from $113.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, November 2nd. Wells Fargo & Co set a $100.00 price objective on Allstate and gave the stock a “hold” rating in a research report on Wednesday, October 31st. Finally, Credit Suisse Group set a $112.00 price objective on Allstate and gave the stock a “buy” rating in a research report on Wednesday, November 14th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $101.27.

Shares of ALL opened at $94.90 on Tuesday. The firm has a market capitalization of $31.39 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 1.23 and a beta of 0.82. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.26 and a current ratio of 0.27. Allstate Corp has a 1 year low of $77.00 and a 1 year high of $102.73.

Allstate (NYSE:ALL) last issued its earnings results on Tuesday, February 5th. The insurance provider reported $1.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.23. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.66 billion. Allstate had a return on equity of 14.00% and a net margin of 5.66%. The business’s revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.09 earnings per share. Research analysts anticipate that Allstate Corp will post 9.24 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Thursday, February 28th will be paid a $0.50 dividend. The ex-dividend date is Wednesday, February 27th. This is a positive change from Allstate’s previous quarterly dividend of $0.46. This represents a $2.00 annualized dividend and a dividend yield of 2.11%. Allstate’s payout ratio is presently 22.80%.

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Allstate Company 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.

Further Reading: Average Daily Trade Volume Explained

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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