Alberta Investment Management Corp Boosts Stock Position in The Allstate Corporation $ALL

Alberta Investment Management Corp lifted its stake in shares of The Allstate Corporation (NYSE:ALL) by 18.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,800 shares of the insurance provider’s stock after acquiring an additional 4,200 shares during the quarter. Alberta Investment Management Corp’s holdings in Allstate were worth $5,753,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALL. Guerra Pan Advisors LLC raised its position in shares of Allstate by 1.5% during the 2nd quarter. Guerra Pan Advisors LLC now owns 3,426 shares of the insurance provider’s stock valued at $690,000 after purchasing an additional 49 shares during the period. Focus Financial Network Inc. boosted its holdings in Allstate by 1.1% in the 3rd quarter. Focus Financial Network Inc. now owns 4,693 shares of the insurance provider’s stock worth $1,012,000 after buying an additional 52 shares during the period. Parkside Financial Bank & Trust increased its stake in Allstate by 4.7% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,189 shares of the insurance provider’s stock worth $239,000 after buying an additional 53 shares in the last quarter. L2 Asset Management LLC raised its holdings in Allstate by 4.8% during the second quarter. L2 Asset Management LLC now owns 1,168 shares of the insurance provider’s stock valued at $235,000 after acquiring an additional 53 shares during the period. Finally, Howard Capital Management Inc. lifted its position in shares of Allstate by 3.2% in the third quarter. Howard Capital Management Inc. now owns 1,739 shares of the insurance provider’s stock valued at $373,000 after acquiring an additional 54 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

Allstate Price Performance

Allstate stock opened at $209.58 on Thursday. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $216.75. The company has a quick ratio of 0.43, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The firm’s fifty day moving average is $204.07 and its 200 day moving average is $204.39. The company has a market cap of $54.84 billion, a price-to-earnings ratio of 5.49, a PEG ratio of 0.45 and a beta of 0.23.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, topping analysts’ consensus estimates of $8.72 by $5.59. The firm had revenue of $14.57 billion for the quarter, compared to the consensus estimate of $17.23 billion. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $7.67 EPS. Sell-side analysts forecast that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The business also recently disclosed 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 represents a $4.32 dividend on an annualized basis and a yield of 2.1%. This is a boost from Allstate’s previous quarterly dividend of $1.00. The ex-dividend date is Monday, March 2nd. Allstate’s dividend payout ratio (DPR) is currently 10.47%.

Insider Activity

In other news, insider Suren Gupta sold 19,593 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the transaction, the insider owned 100,646 shares of the company’s stock, valued at approximately $21,135,660. The trade was a 16.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 46,600 shares of company stock valued at $9,926,140. 1.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

ALL has been the subject of several research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Allstate in a research report on Wednesday, January 21st. Mizuho increased their price objective on shares of Allstate from $255.00 to $281.00 and gave the company an “outperform” rating in a report on Monday, February 9th. William Blair downgraded shares of Allstate from an “outperform” rating to a “market perform” rating in a report on Thursday, December 18th. BMO Capital Markets upped their target price on shares of Allstate from $235.00 to $244.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Finally, UBS Group lifted their price target on shares of Allstate from $250.00 to $255.00 and gave the company a “buy” rating in a report on Monday, November 10th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and an average target price of $239.35.

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.