Pinnacle Associates Ltd. Has $285,000 Position in The Allstate Co. (NYSE:ALL)

Pinnacle Associates Ltd. lifted its stake in shares of The Allstate Co. (NYSE:ALLFree Report) by 8.2% during the fourth quarter, Holdings Channel reports. The fund owned 2,034 shares of the insurance provider’s stock after buying an additional 154 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Allstate were worth $285,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Life Planning Partners Inc bought a new stake in Allstate during the 4th quarter valued at $58,000. Woodmont Investment Counsel LLC bought a new stake in Allstate during the 4th quarter valued at $778,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in Allstate by 88.7% during the 4th quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 24,496 shares of the insurance provider’s stock valued at $3,429,000 after purchasing an additional 11,512 shares in the last quarter. Zullo Investment Group Inc. bought a new stake in Allstate during the 4th quarter valued at $238,000. Finally, Van Strum & Towne Inc. bought a new stake in Allstate during the 4th quarter valued at $249,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Price Performance

Shares of NYSE:ALL opened at $173.43 on Thursday. The company’s 50-day moving average is $160.96 and its 200 day moving average is $142.39. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market capitalization of $45.62 billion, a P/E ratio of -139.86, a price-to-earnings-growth ratio of 0.43 and a beta of 0.52. The Allstate Co. has a fifty-two week low of $100.57 and a fifty-two week high of $173.79.

Allstate (NYSE:ALLGet Free Report) last issued its quarterly earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share for the quarter, topping analysts’ consensus estimates of $3.87 by $1.95. The company had revenue of $14.83 billion for the quarter, compared to the consensus estimate of $12.69 billion. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.36) EPS. On average, equities research analysts forecast that The Allstate Co. will post 13.27 earnings per share for the current year.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Friday, March 1st. This is a positive change from Allstate’s previous quarterly dividend of $0.89. Allstate’s dividend payout ratio (DPR) is currently -296.77%.

Insiders Place Their Bets

In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the completion of the transaction, the chief accounting officer now owns 10,736 shares in the company, valued at $1,712,069.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the completion of the transaction, the chief accounting officer now owns 10,736 shares in the company, valued at $1,712,069.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John E. Dugenske sold 31,000 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the transaction, the insider now owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ALL. The Goldman Sachs Group boosted their price target on shares of Allstate from $164.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, March 25th. HSBC upgraded shares of Allstate from a “hold” rating to a “buy” rating and boosted their price target for the company from $158.00 to $190.00 in a research note on Thursday, March 28th. BMO Capital Markets upped their target price on shares of Allstate from $140.00 to $158.00 and gave the stock a “market perform” rating in a research note on Friday, January 19th. Raymond James upped their target price on shares of Allstate from $155.00 to $180.00 and gave the stock a “strong-buy” rating in a research note on Monday, January 22nd. Finally, TD Cowen started coverage on shares of Allstate in a research note on Wednesday, January 10th. They issued an “outperform” rating and a $193.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $168.69.

Check Out Our Latest Research Report on ALL

Allstate Profile

(Free Report)

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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