Healthcare of Ontario Pension Plan Trust Fund Sells 158,014 Shares of The Allstate Corporation $ALL

Healthcare of Ontario Pension Plan Trust Fund trimmed its holdings in shares of The Allstate Corporation (NYSE:ALL) by 65.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 84,330 shares of the insurance provider’s stock after selling 158,014 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Allstate were worth $17,485,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Allstate by 5.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552,120 shares of the insurance provider’s stock valued at $112,533,000 after buying an additional 26,586 shares during the period. Mezzasalma Advisors LLC raised its holdings in shares of Allstate by 58.6% in the fourth quarter. Mezzasalma Advisors LLC now owns 23,918 shares of the insurance provider’s stock valued at $4,875,000 after acquiring an additional 8,837 shares in the last quarter. Meyer Handelman Co. lifted its stake in Allstate by 4.8% in the fourth quarter. Meyer Handelman Co. now owns 206,787 shares of the insurance provider’s stock worth $43,043,000 after acquiring an additional 9,438 shares during the period. OFI Invest Asset Management bought a new position in Allstate during the 4th quarter worth about $23,074,000. Finally, Strategic Global Advisors LLC grew its holdings in Allstate by 19.2% during the 4th quarter. Strategic Global Advisors LLC now owns 48,882 shares of the insurance provider’s stock worth $10,175,000 after acquiring an additional 7,870 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.

Allstate Stock Performance

Shares of Allstate stock opened at $261.37 on Tuesday. The firm has a market capitalization of $67.28 billion, a P/E ratio of 5.77, a PEG ratio of 0.45 and a beta of 0.16. 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 company has a 50 day moving average price of $231.96 and a 200 day moving average price of $216.45. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $262.24.

Allstate (NYSE:ALL) last released its earnings results 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. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The company had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter in the previous year, the firm earned $3.53 EPS. Allstate’s revenue was up 3.0% compared to the same quarter last year. Sell-side analysts expect that The Allstate Corporation will post 30.51 EPS for the current year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be issued a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.7%. Allstate’s payout ratio is 9.53%.

Insider Activity at Allstate

In related news, Director Andrea Redmond sold 2,225 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $202.91, for a total value of $451,474.75. Following the transaction, the director directly owned 2,225 shares of the company’s stock, valued at $451,474.75. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark Q. Prindiville sold 1,550 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the transaction, the insider owned 27,558 shares of the company’s stock, 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 a total of 22,353 shares of company stock valued at $4,851,560 in the last ninety days. Company insiders own 1.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ALL shares. Barclays boosted their price target on shares of Allstate from $203.00 to $213.00 and gave the company an “underweight” rating in a report on Tuesday, July 7th. Atlantic Securities set a $319.00 price objective on shares of Allstate in a report on Wednesday, July 15th. Zacks Research downgraded shares of Allstate from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Weiss Ratings restated a “buy (a-)” rating on shares of Allstate in a report on Thursday, June 18th. Finally, Evercore set a $240.00 price target on Allstate in a report on Friday, July 10th. Three research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $254.80.

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.