Advisors Asset Management Inc. Raises Holdings in The Allstate Corporation $ALL

Advisors Asset Management Inc. grew its holdings in shares of The Allstate Corporation (NYSE:ALL) by 36.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,256 shares of the insurance provider’s stock after purchasing an additional 4,113 shares during the quarter. Advisors Asset Management Inc.’s holdings in Allstate were worth $3,275,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Guerra Pan Advisors LLC lifted its stake in Allstate by 1.5% in the 2nd quarter. Guerra Pan Advisors LLC now owns 3,426 shares of the insurance provider’s stock worth $690,000 after purchasing an additional 49 shares in the last quarter. Focus Financial Network Inc. lifted its position in Allstate by 1.1% during the third quarter. Focus Financial Network Inc. now owns 4,693 shares of the insurance provider’s stock worth $1,012,000 after buying an additional 52 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in Allstate by 4.7% during the second quarter. Parkside Financial Bank & Trust now owns 1,189 shares of the insurance provider’s stock worth $239,000 after buying an additional 53 shares in the last quarter. L2 Asset Management LLC grew its holdings in Allstate by 4.8% in the 2nd quarter. L2 Asset Management LLC now owns 1,168 shares of the insurance provider’s stock valued at $235,000 after buying an additional 53 shares in the last quarter. Finally, Howard Capital Management Inc. increased its stake in shares of Allstate by 3.2% in the 3rd quarter. Howard Capital Management Inc. now owns 1,739 shares of the insurance provider’s stock worth $373,000 after acquiring an additional 54 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Suren Gupta sold 21,871 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $215.21, for a total value of $4,706,857.91. Following the completion of the sale, the insider directly owned 100,646 shares of the company’s stock, valued at $21,660,025.66. The trade was a 17.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders have sold 47,000 shares of company stock valued at $10,012,228. Corporate insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

ALL has been the subject of several recent analyst reports. Mizuho raised their price objective on shares of Allstate from $255.00 to $281.00 and gave the stock an “outperform” rating in a research report on Monday, February 9th. Morgan Stanley restated an “equal weight” rating and set a $215.00 price target (down previously from $245.00) on shares of Allstate in a report on Tuesday, December 16th. Zacks Research cut Allstate from a “strong-buy” rating to a “hold” rating in a report on Friday, December 19th. William Blair cut Allstate from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 18th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $220.00 price target on shares of Allstate in a research note on Thursday, February 5th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $239.35.

Allstate Price Performance

Allstate stock opened at $207.41 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $216.75. The firm has a market cap of $54.28 billion, a PE ratio of 5.43, a price-to-earnings-growth ratio of 0.44 and a beta of 0.23. The company’s 50 day moving average is $203.54 and its two-hundred day moving average is $204.15.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.72 by $5.59. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The business had revenue of $14.57 billion during the quarter, compared to analysts’ expectations of $17.23 billion. During the same quarter last year, the business posted $7.67 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, research analysts expect that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be given a dividend of $1.08 per share. The ex-dividend date is Monday, March 2nd. This represents a $4.32 annualized dividend and a dividend yield of 2.1%. This is a boost from Allstate’s previous quarterly dividend of $1.00. Allstate’s payout ratio is presently 10.47%.

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.