Pensionfund Sabic cut its holdings in The Allstate Co. (NYSE:ALL) by 9.7% during the first quarter, Holdings Channel reports. The firm owned 18,600 shares of the insurance provider’s stock after selling 2,000 shares during the quarter. Pensionfund Sabic’s holdings in The Allstate were worth $2,137,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. United Bank increased its stake in The Allstate by 10.5% in the 3rd quarter. United Bank now owns 15,202 shares of the insurance provider’s stock worth $1,431,000 after acquiring an additional 1,443 shares during the last quarter. Wealth Alliance increased its position in shares of The Allstate by 14.9% during the 3rd quarter. Wealth Alliance now owns 5,176 shares of the insurance provider’s stock valued at $487,000 after purchasing an additional 671 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of The Allstate by 10.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 8,470 shares of the insurance provider’s stock valued at $797,000 after purchasing an additional 770 shares during the last quarter. OLD Mission Capital LLC bought a new position in The Allstate in the 3rd quarter valued at $5,666,000. Finally, Lombard Odier Asset Management Switzerland SA bought a new position in The Allstate in the 3rd quarter valued at $921,000. 76.95% of the stock is currently owned by institutional investors.
ALL has been the topic of several research analyst reports. Morgan Stanley cut their price objective on The Allstate from $126.00 to $119.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 30th. JPMorgan Chase & Co. started coverage on The Allstate in a report on Tuesday, February 2nd. They issued an “overweight” rating and a $127.00 target price for the company. Deutsche Bank Aktiengesellschaft upped their target price on The Allstate from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, February 8th. Citigroup upped their target price on The Allstate from $128.00 to $135.00 in a report on Wednesday, March 31st. Finally, Keefe, Bruyette & Woods cut The Allstate from an “outperform” rating to a “market perform” rating in a report on Thursday, February 11th. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The Allstate presently has a consensus rating of “Buy” and a consensus price target of $121.27.
The Allstate (NYSE:ALL) last announced its earnings results on Tuesday, February 2nd. The insurance provider reported $5.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.81 by $2.06. The Allstate had a return on equity of 16.70% and a net margin of 10.68%. The company had revenue of $11.34 billion for the quarter, compared to analyst estimates of $9.43 billion. During the same period in the prior year, the company posted $3.13 EPS. As a group, equities research analysts anticipate that The Allstate Co. will post 12.54 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 1st. Investors of record on Thursday, March 4th were given a dividend of $0.81 per share. This is a positive change from The Allstate’s previous quarterly dividend of $0.54. This represents a $3.24 annualized dividend and a yield of 2.78%. The ex-dividend date was Wednesday, March 3rd. The Allstate’s dividend payout ratio is currently 31.06%.
The Allstate Company Profile
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Protection Services, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home and stand-alone scheduled personal property; and commercial lines products under the Allstate and Encompass brand names.
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