Dimensional Fund Advisors LP Acquires 401,700 Shares of The Allstate Corporation $ALL

Dimensional Fund Advisors LP grew its stake in shares of The Allstate Corporation (NYSE:ALL) by 18.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,606,451 shares of the insurance provider’s stock after purchasing an additional 401,700 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Allstate were worth $559,435,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Cresset Asset Management LLC raised its stake in shares of Allstate by 4.1% during the third quarter. Cresset Asset Management LLC now owns 8,582 shares of the insurance provider’s stock valued at $1,851,000 after acquiring an additional 337 shares in the last quarter. Richard C. Young & CO. LTD. raised its position in Allstate by 0.5% during the 3rd quarter. Richard C. Young & CO. LTD. now owns 43,810 shares of the insurance provider’s stock valued at $9,404,000 after purchasing an additional 233 shares in the last quarter. Picton Mahoney Asset Management bought a new stake in Allstate during the 3rd quarter valued at $875,000. Victory Capital Management Inc. lifted its holdings in shares of Allstate by 4.5% in the 3rd quarter. Victory Capital Management Inc. now owns 398,571 shares of the insurance provider’s stock worth $85,553,000 after buying an additional 17,036 shares during the period. Finally, Focus Partners Advisor Solutions LLC grew its position in shares of Allstate by 26.0% during the 3rd quarter. Focus Partners Advisor Solutions LLC now owns 6,618 shares of the insurance provider’s stock worth $1,363,000 after buying an additional 1,367 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Price Performance

Shares of ALL opened at $214.42 on Thursday. The company has a 50 day moving average of $204.51 and a two-hundred day moving average of $204.65. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The Allstate Corporation has a twelve month low of $176.00 and a twelve month high of $216.75. The company has a market cap of $55.65 billion, a price-to-earnings ratio of 5.61, a price-to-earnings-growth ratio of 0.44 and a beta of 0.23.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.72 by $5.59. The business had revenue of $17.35 billion for the quarter, compared to the consensus estimate of $17.23 billion. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $7.67 earnings per share. As a group, analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 2.0%. 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 11.31%.

Insiders Place Their Bets

In related news, insider Suren Gupta sold 19,593 shares of the 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 transaction, the insider directly owned 100,646 shares of the company’s stock, valued at $21,135,660. This trade represents a 16.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods lifted their price objective on Allstate from $254.00 to $260.00 and gave the company an “outperform” rating in a report on Tuesday, February 10th. Cantor Fitzgerald restated a “neutral” rating and issued a $220.00 price target on shares of Allstate in a report on Thursday, February 5th. Wells Fargo & Company dropped their price objective on shares of Allstate from $228.00 to $227.00 and set an “equal weight” rating on the stock in a research note on Friday, February 20th. Raymond James Financial reissued a “strong-buy” rating and issued a $260.00 price objective on shares of Allstate in a research note on Tuesday. Finally, Morgan Stanley restated an “equal weight” rating and set a $215.00 target price (down from $245.00) on shares of Allstate in a report on Tuesday, December 16th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $239.29.

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.