Financiere des Professionnels Fonds d investissement inc. Buys 11,806 Shares of The Allstate Corporation $ALL

Financiere des Professionnels Fonds d investissement inc. increased its stake in The Allstate Corporation (NYSE:ALL) by 62.2% in the 1st quarter, Holdings Channel reports. The firm owned 30,792 shares of the insurance provider’s stock after purchasing an additional 11,806 shares during the period. Financiere des Professionnels Fonds d investissement inc.’s holdings in Allstate were worth $6,384,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. CIBC Bancorp USA Inc. acquired a new position in shares of Allstate during the 3rd quarter worth about $7,814,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Allstate by 5.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552,120 shares of the insurance provider’s stock valued at $112,533,000 after purchasing an additional 26,586 shares during the period. Mezzasalma Advisors LLC grew its holdings in Allstate by 58.6% in the 4th quarter. Mezzasalma Advisors LLC now owns 23,918 shares of the insurance provider’s stock valued at $4,875,000 after buying an additional 8,837 shares during the last quarter. Meyer Handelman Co. grew its holdings in Allstate by 4.8% in the 4th quarter. Meyer Handelman Co. now owns 206,787 shares of the insurance provider’s stock valued at $43,043,000 after buying an additional 9,438 shares during the last quarter. Finally, AIA Group Ltd increased its position in Allstate by 479.8% in the 3rd quarter. AIA Group Ltd now owns 13,190 shares of the insurance provider’s stock worth $2,831,000 after buying an additional 10,915 shares during the period. Institutional investors own 76.47% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Evercore set a $240.00 price target on Allstate in a report on Friday, July 10th. Zacks Research downgraded shares of Allstate from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Wall Street Zen lowered shares of Allstate from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Atlantic Securities set a $319.00 target price on shares of Allstate in a research note on Wednesday. Finally, HSBC downgraded shares of Allstate from a “buy” rating to a “hold” rating and increased their price target for the company from $244.00 to $264.00 in a report on Monday, July 6th. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $253.05.

Insiders Place Their Bets

In other Allstate news, Director Andrea Redmond sold 2,225 shares of Allstate stock in a transaction on Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the sale, the director owned 2,225 shares in the company, valued at $451,474.75. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Q. Prindiville sold 1,550 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the sale, the insider directly owned 27,558 shares in the company, valued at $5,959,968.66. This trade represents a 5.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 22,353 shares of company stock worth $4,851,560 over the last 90 days. Corporate insiders own 1.55% of the company’s stock.

Allstate Trading Up 0.7%

Allstate stock opened at $241.19 on Friday. The business has a 50 day moving average price of $226.55 and a two-hundred day moving average price of $214.11. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $257.67. The stock has a market cap of $62.09 billion, a price-to-earnings ratio of 5.32, a price-to-earnings-growth ratio of 0.42 and a beta of 0.16.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping the consensus estimate of $7.31 by $3.34. The company had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.Allstate’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm earned $3.53 EPS. As a group, equities analysts forecast that The Allstate Corporation will post 29.99 EPS for the current year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be given a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Monday, August 31st. Allstate’s dividend payout ratio (DPR) is 9.53%.

Allstate 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.