Amalgamated Bank trimmed its position in The Allstate Co. (NYSE:ALL – Get Rating) by 6.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,012 shares of the insurance provider’s stock after selling 5,416 shares during the period. Amalgamated Bank’s holdings in Allstate were worth $10,528,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. US Asset Management LLC bought a new position in Allstate in the 1st quarter valued at $32,000. MCF Advisors LLC purchased a new stake in shares of Allstate during the 1st quarter valued at $34,000. Rational Advisors LLC purchased a new stake in shares of Allstate during the 1st quarter valued at $40,000. Chilton Capital Management LLC purchased a new stake in shares of Allstate during the 4th quarter valued at $35,000. Finally, Concorde Financial Corp purchased a new stake in shares of Allstate during the 4th quarter valued at $36,000. 76.17% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
ALL has been the topic of several research reports. Citigroup initiated coverage on shares of Allstate in a research report on Monday, May 23rd. They set a “buy” rating and a $159.00 price objective on the stock. Wells Fargo & Company lowered their price objective on shares of Allstate from $116.00 to $110.00 and set an “underweight” rating on the stock in a research report on Thursday, July 21st. TheStreet cut shares of Allstate from a “b” rating to a “c+” rating in a research report on Wednesday, August 3rd. Barclays lowered their price objective on shares of Allstate from $123.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Monday, August 8th. Finally, Raymond James lowered their price objective on shares of Allstate from $165.00 to $155.00 in a research report on Thursday, July 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.00.
Allstate Price Performance
Allstate (NYSE:ALL – Get Rating) last released its quarterly earnings data on Wednesday, August 3rd. The insurance provider reported ($0.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.26) by $0.50. Allstate had a net margin of 1.99% and a return on equity of 7.53%. The firm had revenue of $12.95 billion for the quarter, compared to analysts’ expectations of $12.16 billion. During the same quarter in the previous year, the company earned $3.79 earnings per share. As a group, equities analysts predict that The Allstate Co. will post 4.79 earnings per share for the current year.
Allstate Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Wednesday, August 31st will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Tuesday, August 30th. Allstate’s payout ratio is 118.47%.
Insider Buying and Selling at Allstate
In other news, EVP Mark Q. Prindiville sold 5,511 shares of Allstate stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $125.93, for a total transaction of $694,000.23. Following the sale, the executive vice president now owns 15,552 shares of the company’s stock, valued at approximately $1,958,463.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.77% of the company’s stock.
The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home and stand-alone scheduled personal property; and commercial lines products under the Allstate and Encompass brand names.
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