Groupama Asset Managment Has $1.41 Million Stock Position in The Allstate Corporation $ALL

Groupama Asset Managment lowered its position in The Allstate Corporation (NYSE:ALL) by 40.1% during the 1st quarter, Holdings Channel reports. The fund owned 6,787 shares of the insurance provider’s stock after selling 4,540 shares during the period. Groupama Asset Managment’s holdings in Allstate were worth $1,407,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Allstate by 3.7% during the fourth quarter. State Street Corp now owns 12,297,551 shares of the insurance provider’s stock worth $2,571,600,000 after purchasing an additional 438,034 shares during the period. Bank of America Corp DE grew its position in Allstate by 8.1% in the 1st quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock valued at $1,640,748,000 after purchasing an additional 596,321 shares during the period. GQG Partners LLC grew its position in Allstate by 36.0% in the 4th quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock valued at $1,142,449,000 after purchasing an additional 1,452,993 shares during the period. Franklin Resources Inc. increased its stake in Allstate by 29.2% during the 4th quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock valued at $1,042,321,000 after purchasing an additional 1,131,172 shares in the last quarter. Finally, Boston Partners increased its stake in Allstate by 14.9% during the 3rd quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock valued at $654,652,000 after purchasing an additional 395,195 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on ALL shares. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Allstate in a research note on Thursday, June 18th. Barclays boosted their target price on shares of Allstate from $203.00 to $213.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 7th. Zacks Research lowered shares of Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Roth Capital reaffirmed a “buy” rating and issued a $275.00 price target on shares of Allstate in a research report on Friday, July 17th. Finally, Evercore set a $240.00 price target on Allstate in a research note on Friday, July 10th. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $254.80.

Insider Activity

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the sale, the insider owned 27,558 shares in the company, valued at approximately $5,959,968.66. This trade represents a 5.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Andrea Redmond sold 2,225 shares of Allstate stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following the transaction, the director directly owned 2,225 shares in the company, valued at approximately $451,474.75. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. 1.55% of the stock is currently owned by insiders.

Allstate Price Performance

Shares of NYSE:ALL opened at $264.53 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The stock’s fifty day simple moving average is $235.94 and its two-hundred day simple moving average is $218.05. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $277.22. The stock has a market cap of $68.10 billion, a PE ratio of 5.84, a price-to-earnings-growth ratio of 0.45 and a beta of 0.16.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.31 by $3.34. The firm had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.53 EPS. As a group, analysts forecast that The Allstate Corporation will post 30.74 EPS for the current fiscal year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, August 31st. Allstate’s dividend payout ratio (DPR) is presently 9.53%.

About Allstate

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.