Hillsdale Investment Management Inc. Takes $963,000 Position in The Allstate Corporation $ALL

Hillsdale Investment Management Inc. acquired a new stake in shares of The Allstate Corporation (NYSE:ALL) during the third quarter, HoldingsChannel reports. The fund acquired 4,485 shares of the insurance provider’s stock, valued at approximately $963,000.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of Allstate by 60.2% during the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock valued at $1,253,000 after buying an additional 2,443 shares during the period. Revolve Wealth Partners LLC bought a new position in Allstate in the fourth quarter valued at about $231,000. Caitong International Asset Management Co. Ltd boosted its position in Allstate by 315.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 126 shares during the last quarter. Focus Partners Advisor Solutions LLC grew its stake in shares of Allstate by 28.5% during the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 5,251 shares of the insurance provider’s stock valued at $1,055,000 after purchasing an additional 1,165 shares during the period. Finally, Resonant Capital Advisors LLC increased its position in shares of Allstate by 10.6% during the 2nd quarter. Resonant Capital Advisors LLC now owns 2,146 shares of the insurance provider’s stock valued at $434,000 after purchasing an additional 205 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

Allstate Trading Down 0.1%

Allstate stock opened at $206.25 on Tuesday. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $216.75. The firm’s 50 day moving average price is $203.88 and its 200-day moving average price is $204.38. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.43. The stock has a market cap of $53.97 billion, a P/E ratio of 5.40, a PEG ratio of 0.43 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, beating the consensus estimate of $8.72 by $5.59. The company had revenue of $17.35 billion during the quarter, compared to analysts’ expectations of $17.23 billion. Allstate had a net margin of 15.19% and a return on equity of 39.20%. Allstate’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the company posted $7.67 earnings per share. On average, equities analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 2.1%. This is a positive change from Allstate’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Monday, March 2nd. Allstate’s payout ratio is presently 11.31%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ALL. UBS Group raised their price objective on shares of Allstate from $250.00 to $255.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Keefe, Bruyette & Woods increased their price target on shares of Allstate from $254.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Allstate in a research report on Wednesday, January 21st. TD Cowen lowered Allstate from a “buy” rating to a “hold” rating in a research note on Monday, January 12th. Finally, Citigroup lifted their target price on Allstate from $216.00 to $221.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $239.29.

Insider Activity at Allstate

In related news, insider Suren Gupta sold 19,593 shares of the 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 completion of the transaction, the insider directly owned 100,646 shares of the company’s stock, valued at approximately $21,135,660. This represents a 16.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 24,129 shares of company stock valued at $5,090,270 in the last quarter. 1.70% of the stock is currently owned by insiders.

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.