The Allstate Corporation $ALL Shares Acquired by BankPlus Trust Department

BankPlus Trust Department increased its holdings in The Allstate Corporation (NYSE:ALL) by 246.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,188 shares of the insurance provider’s stock after buying an additional 2,978 shares during the quarter. BankPlus Trust Department’s holdings in Allstate were worth $899,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Allstate in the second quarter worth $482,870,000. Swedbank AB raised its stake in shares of Allstate by 2,157.8% during the third quarter. Swedbank AB now owns 861,725 shares of the insurance provider’s stock valued at $184,969,000 after purchasing an additional 823,559 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Allstate by 27.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,328,070 shares of the insurance provider’s stock worth $482,073,000 after purchasing an additional 497,982 shares during the period. Ameriprise Financial Inc. grew its position in Allstate by 52.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,385,901 shares of the insurance provider’s stock valued at $279,062,000 after buying an additional 478,598 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Allstate by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 33,235,231 shares of the insurance provider’s stock valued at $6,690,584,000 after buying an additional 435,145 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of Allstate from $202.00 to $216.00 and gave the stock an “equal weight” rating in a research report on Friday, November 7th. Wolfe Research raised Allstate to a “strong-buy” rating in a report on Tuesday, September 16th. Keefe, Bruyette & Woods upped their target price on Allstate from $246.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 11th. William Blair cut Allstate from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 18th. Finally, JPMorgan Chase & Co. boosted their price objective on Allstate from $254.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $236.93.

Allstate Trading Down 0.6%

Shares of ALL opened at $207.82 on Friday. The business’s 50-day moving average price is $204.25 and its 200 day moving average price is $202.57. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $54.38 billion, a P/E ratio of 6.73, a P/E/G ratio of 0.38 and a beta of 0.25. The Allstate Corporation has a 1-year low of $176.00 and a 1-year high of $215.89.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $11.17 EPS for the quarter, beating analysts’ consensus estimates of $5.48 by $5.69. The company had revenue of $17.26 billion during the quarter, compared to analyst estimates of $16.59 billion. Allstate had a net margin of 12.53% and a return on equity of 35.42%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.91 earnings per share. Analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Monday, December 1st. Allstate’s payout ratio is presently 12.95%.

Insider Transactions at Allstate

In other news, insider Suren Gupta sold 3,786 shares of the stock in a transaction on Friday, November 28th. The stock was sold at an average price of $215.13, for a total value of $814,482.18. Following the completion of the sale, the insider owned 100,646 shares in the company, valued at $21,651,973.98. This represents a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have sold 28,807 shares of company stock worth $6,198,726. 1.70% of the stock is owned by insiders.

Allstate Company 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.