J. Safra Sarasin Holding AG Trims Position in The Allstate Corporation $ALL

J. Safra Sarasin Holding AG lowered its position in shares of The Allstate Corporation (NYSE:ALL) by 35.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 71,967 shares of the insurance provider’s stock after selling 40,087 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Allstate were worth $14,980,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALL. Harbor Capital Advisors Inc. raised its holdings in Allstate by 79.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 55 shares during the last quarter. Barnes Dennig Private Wealth Management LLC boosted its holdings in shares of Allstate by 112.3% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 73 shares during the last quarter. Palisade Asset Management LLC purchased a new stake in shares of Allstate in the third quarter valued at $31,000. Armstrong Advisory Group Inc. increased its stake in Allstate by 72.0% in the third quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 67 shares during the last quarter. Finally, South Plains Financial Inc. increased its stake in Allstate by 41.5% in the third quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 49 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Allstate news, insider Suren Gupta sold 19,593 shares of Allstate stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the transaction, the insider directly owned 100,646 shares of the company’s stock, valued at $21,135,660. The trade was a 16.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.70% of the company’s stock.

Allstate Price Performance

ALL stock opened at $207.12 on Tuesday. The stock has a 50-day moving average price of $205.33 and a two-hundred day moving average price of $204.95. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $216.75. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26. The company has a market cap of $53.76 billion, a PE ratio of 5.42, a price-to-earnings-growth ratio of 0.41 and a beta of 0.23.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 EPS for the quarter, topping analysts’ consensus estimates of $8.72 by $5.59. The company 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 company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the business posted $7.67 EPS. As a group, research analysts predict that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Increases Dividend

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

Wall Street Analyst Weigh In

ALL has been the topic of a number of research analyst reports. Wells Fargo & Company decreased their price target on 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 reaffirmed a “strong-buy” rating and set a $260.00 price objective on shares of Allstate in a research note on Tuesday, March 3rd. Citigroup increased their price objective on shares of Allstate from $216.00 to $221.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Mizuho decreased their target price on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, March 20th. Finally, JPMorgan Chase & Co. upped their price target on shares of Allstate from $260.00 to $263.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Four analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $237.94.

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.