Bank of New York Mellon Corp Has $406.56 Million Stock Position in The Allstate Corporation $ALL

Bank of New York Mellon Corp increased its position in The Allstate Corporation (NYSE:ALL) by 0.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,894,060 shares of the insurance provider’s stock after buying an additional 4,868 shares during the period. Bank of New York Mellon Corp owned 0.72% of Allstate worth $406,560,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ALL. Norges Bank bought a new stake in shares of Allstate during the second quarter valued at approximately $482,870,000. Swedbank AB increased its stake in Allstate by 2,157.8% during the 3rd 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. Ameriprise Financial Inc. raised its holdings in Allstate by 52.7% during the second quarter. Ameriprise Financial Inc. now owns 1,385,901 shares of the insurance provider’s stock worth $279,062,000 after buying an additional 478,598 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Allstate by 1.3% in the second 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. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of Allstate during the second quarter valued at about $68,590,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Price Performance

Shares of NYSE:ALL opened at $198.25 on Friday. The company has a market capitalization of $51.88 billion, a P/E ratio of 6.42, a price-to-earnings-growth ratio of 0.43 and a beta of 0.24. The company’s 50-day moving average is $204.88 and its 200 day moving average is $203.32. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.43 and a current ratio of 0.43. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week 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 the consensus estimate of $5.48 by $5.69. Allstate had a return on equity of 35.42% and a net margin of 12.53%.The business had revenue of $17.26 billion for the quarter, compared to the consensus estimate of $16.59 billion. During the same quarter in the prior year, the business earned $3.91 earnings per share. Allstate’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities research analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were issued a $1.00 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $4.00 annualized dividend and a yield of 2.0%. Allstate’s dividend payout ratio (DPR) is 12.95%.

Insider Transactions at Allstate

In other news, insider Suren Gupta sold 19,593 shares of Allstate stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total value of $4,114,530.00. Following the completion of the transaction, the insider owned 100,646 shares in the company, valued at $21,135,660. This trade represents a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders sold 48,400 shares of company stock valued at $10,313,256. Insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

ALL has been the topic of several recent research reports. Morgan Stanley reaffirmed an “equal weight” rating and issued a $215.00 price target (down previously from $245.00) on shares of Allstate in a research report on Tuesday, December 16th. BMO Capital Markets raised their price objective on Allstate from $235.00 to $244.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. UBS Group lifted their price objective on shares of Allstate from $250.00 to $255.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Zacks Research downgraded shares of Allstate from a “strong-buy” rating to a “hold” rating in a report on Friday, December 19th. Finally, Wells Fargo & Company boosted their price target on shares of Allstate from $216.00 to $223.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 13th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $236.19.

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.