Benin Management CORP Sells 38,500 Shares of Allstate Corp (ALL)
Benin Management CORP reduced its position in shares of Allstate Corp (NYSE:ALL) by 32.6% during the 4th quarter, HoldingsChannel reports. The fund owned 79,727 shares of the insurance provider’s stock after selling 38,500 shares during the quarter. Allstate makes up about 3.3% of Benin Management CORP’s investment portfolio, making the stock its 8th biggest position. Benin Management CORP’s holdings in Allstate were worth $8,348,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Allstate by 2.4% in the second quarter. Vanguard Group Inc. now owns 24,213,610 shares of the insurance provider’s stock worth $2,141,452,000 after buying an additional 575,645 shares during the period. Northern Trust Corp increased its position in Allstate by 18.8% in the second quarter. Northern Trust Corp now owns 7,202,273 shares of the insurance provider’s stock worth $636,969,000 after buying an additional 1,141,782 shares during the period. Wells Fargo & Company MN increased its position in Allstate by 11.1% in the third quarter. Wells Fargo & Company MN now owns 5,178,889 shares of the insurance provider’s stock worth $475,991,000 after buying an additional 518,058 shares during the period. Ameriprise Financial Inc. increased its position in Allstate by 22.4% in the third quarter. Ameriprise Financial Inc. now owns 4,210,943 shares of the insurance provider’s stock worth $387,030,000 after buying an additional 769,761 shares during the period. Finally, Bank of Montreal Can increased its position in Allstate by 13.2% in the fourth quarter. Bank of Montreal Can now owns 3,721,761 shares of the insurance provider’s stock worth $389,706,000 after buying an additional 434,191 shares during the period. 76.56% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Suren Gupta sold 103,242 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $98.68, for a total transaction of $10,187,920.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Susan L. Lees sold 4,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $100.49, for a total value of $401,960.00. Following the transaction, the executive vice president now directly owns 24,341 shares of the company’s stock, valued at approximately $2,446,027.09. The disclosure for this sale can be found here. In the last three months, insiders sold 432,242 shares of company stock valued at $42,827,931. Company insiders own 1.58% of the company’s stock.
Several brokerages have weighed in on ALL. Citigroup dropped their target price on Allstate from $107.00 to $106.00 and set a “buy” rating on the stock in a research report on Monday, October 2nd. B. Riley reaffirmed a “neutral” rating on shares of Allstate in a research report on Monday, November 6th. Wells Fargo & Co reaffirmed a “buy” rating and issued a $105.00 target price on shares of Allstate in a research report on Thursday, November 2nd. Zacks Investment Research raised Allstate from a “hold” rating to a “buy” rating and set a $114.00 target price on the stock in a research report on Wednesday, January 3rd. Finally, Keefe, Bruyette & Woods lowered Allstate from a “market perform” rating to an “underperform” rating in a research report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $96.43.
Allstate Corp (NYSE:ALL) traded up $1.81 during trading hours on Thursday, hitting $103.94. The stock had a trading volume of 1,765,300 shares, compared to its average volume of 2,193,582. Allstate Corp has a 12 month low of $73.90 and a 12 month high of $105.36. The company has a market capitalization of $36,646.90, a PE ratio of 14.44, a price-to-earnings-growth ratio of 1.54 and a beta of 1.12. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.26 and a current ratio of 0.26.
Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, November 1st. The insurance provider reported $1.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.61 by ($0.01). Allstate had a return on equity of 13.11% and a net margin of 7.32%. The business had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.07 billion. During the same period in the previous year, the company posted $1.26 EPS. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. equities analysts expect that Allstate Corp will post 6.15 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Thursday, November 30th were paid a $0.37 dividend. The ex-dividend date was Wednesday, November 29th. This represents a $1.48 annualized dividend and a dividend yield of 1.42%. Allstate’s payout ratio is 20.56%.
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Allstate Company Profile
The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.
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