Swiss Life Asset Management Ltd Increases Holdings in The Allstate Corporation $ALL

Swiss Life Asset Management Ltd boosted its holdings in The Allstate Corporation (NYSE:ALL) by 14.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 76,873 shares of the insurance provider’s stock after acquiring an additional 9,638 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Allstate were worth $16,501,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Innova Wealth Partners lifted its holdings in shares of Allstate by 6.0% during the 3rd quarter. Innova Wealth Partners now owns 1,151 shares of the insurance provider’s stock worth $247,000 after acquiring an additional 65 shares during the last quarter. Cambria Investment Management L.P. bought a new stake in Allstate during the 3rd quarter valued at approximately $466,000. Vermillion & White Wealth Management Group LLC boosted its holdings in shares of Allstate by 14.5% during the 3rd quarter. Vermillion & White Wealth Management Group LLC now owns 1,262 shares of the insurance provider’s stock valued at $271,000 after buying an additional 160 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of Allstate by 11.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 17,204 shares of the insurance provider’s stock worth $3,693,000 after buying an additional 1,741 shares during the last quarter. Finally, CIBC Bancorp USA Inc. bought a new position in Allstate during the 3rd quarter valued at approximately $7,814,000. 76.47% of the stock is currently owned by institutional investors.

Allstate Stock Down 0.2%

Shares of ALL opened at $203.94 on Friday. The firm has a market capitalization of $52.93 billion, a P/E ratio of 5.34, a P/E/G ratio of 0.42 and a beta of 0.23. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $216.75. The firm has a fifty day moving average price of $204.37 and a 200-day moving average price of $204.76. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (EPS) for the quarter, topping 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 company 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 firm earned $7.67 earnings per share. Allstate’s revenue was up 5.1% compared to the same quarter last year. Equities research analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current 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 given a dividend of $1.08 per share. This is a positive change from Allstate’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $4.32 dividend on an annualized basis and a yield of 2.1%. Allstate’s payout ratio is 11.31%.

Analyst Upgrades and Downgrades

ALL has been the topic of several analyst reports. Citigroup upped their price objective on Allstate from $216.00 to $221.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. Wells Fargo & Company lowered their price target on Allstate from $228.00 to $227.00 and set an “equal weight” rating on the stock in a report on Friday, February 20th. Zacks Research raised Allstate from a “hold” rating to a “strong-buy” rating in a report on Friday, February 20th. Roth Mkm increased their target price on Allstate from $230.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $260.00 price objective on shares of Allstate in a research note on Tuesday, March 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $238.88.

Insider Activity at Allstate

In other news, insider Suren Gupta sold 19,593 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total value 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. This represents a 16.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.70% of the company’s stock.

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.