Bleakley Financial Group LLC Purchases 827 Shares of The Allstate Co. (NYSE:ALL)

Bleakley Financial Group LLC raised its holdings in shares of The Allstate Co. (NYSE:ALL) by 19.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,990 shares of the insurance provider’s stock after purchasing an additional 827 shares during the quarter. Bleakley Financial Group LLC’s holdings in Allstate were worth $699,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ALL. Sei Investments Co. boosted its position in shares of Allstate by 40.2% during the first quarter. Sei Investments Co. now owns 187,869 shares of the insurance provider’s stock valued at $26,022,000 after buying an additional 53,824 shares during the last quarter. Prudential PLC purchased a new position in Allstate during the 1st quarter worth $1,325,000. Cetera Investment Advisers grew its stake in shares of Allstate by 13.9% in the 1st quarter. Cetera Investment Advisers now owns 23,536 shares of the insurance provider’s stock worth $3,260,000 after acquiring an additional 2,874 shares in the last quarter. Dakota Wealth Management purchased a new stake in shares of Allstate in the first quarter valued at about $270,000. Finally, Sequoia Financial Advisors LLC lifted its position in shares of Allstate by 36.2% during the first quarter. Sequoia Financial Advisors LLC now owns 3,237 shares of the insurance provider’s stock valued at $448,000 after purchasing an additional 860 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. TheStreet upgraded shares of Allstate from a “c+” rating to a “b” rating in a research note on Wednesday, February 7th. Evercore ISI lifted their price target on Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a report on Thursday. Wells Fargo & Company raised their target price on Allstate from $145.00 to $146.00 and gave the company an “underweight” rating in a research report on Thursday. BMO Capital Markets raised their price objective on shares of Allstate from $140.00 to $158.00 and gave the stock a “market perform” rating in a report on Friday, January 19th. Finally, Morgan Stanley upgraded shares of Allstate from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $117.00 to $171.00 in a research note on Thursday, January 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $172.59.

Allstate Stock Performance

Shares of ALL opened at $166.81 on Friday. 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 stock has a market capitalization of $43.88 billion, a price-to-earnings ratio of -134.52, a price-to-earnings-growth ratio of 0.42 and a beta of 0.52. The Allstate Co. has a 52-week low of $100.57 and a 52-week high of $174.57. The stock’s 50-day simple moving average is $163.04 and its 200 day simple moving average is $145.13.

Allstate (NYSE:ALL) last released its quarterly earnings data on Thursday, February 8th. The insurance provider reported $5.82 EPS for the quarter, beating analysts’ consensus estimates of $3.87 by $1.95. The company had revenue of $14.83 billion during the quarter, compared to analyst estimates of $12.69 billion. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. Allstate’s revenue was up 8.7% compared to the same quarter last year. During the same period last year, the business earned ($1.36) earnings per share. Research analysts forecast that The Allstate Co. will post 13.41 EPS for the current fiscal year.

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were issued a $0.92 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $3.68 annualized dividend and a dividend yield of 2.21%. This is a boost from Allstate’s previous quarterly dividend of $0.89. Allstate’s dividend payout ratio is presently -296.77%.

Insider Activity at Allstate

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

Allstate Profile

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.