Bank of America Corp DE Sells 47,085 Shares of The Allstate Corporation $ALL

Bank of America Corp DE reduced its position in The Allstate Corporation (NYSE:ALL) by 0.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,549,529 shares of the insurance provider’s stock after selling 47,085 shares during the period. Bank of America Corp DE owned about 2.50% of Allstate worth $1,405,856,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Allstate by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 33,235,231 shares of the insurance provider’s stock worth $6,690,584,000 after purchasing an additional 435,145 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Allstate by 2.5% during the second quarter. Franklin Resources Inc. now owns 4,670,113 shares of the insurance provider’s stock valued at $940,140,000 after purchasing an additional 112,858 shares in the last quarter. Boston Partners boosted its position in shares of Allstate by 14.9% during the third quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock valued at $654,652,000 after buying an additional 395,195 shares during the last quarter. Raymond James Financial Inc. boosted its position in shares of Allstate by 3.3% during the second quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider’s stock valued at $562,388,000 after buying an additional 88,620 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Allstate by 18.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,606,451 shares of the insurance provider’s stock worth $559,435,000 after buying an additional 401,700 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

Allstate Trading Up 0.6%

Shares of NYSE:ALL opened at $206.22 on Monday. The stock’s 50-day simple moving average is $204.52 and its two-hundred day simple moving average is $204.71. The stock has a market capitalization of $53.52 billion, a price-to-earnings ratio of 5.40, a PEG ratio of 0.43 and a beta of 0.23. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $216.75. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 EPS for the quarter, beating the consensus estimate of $8.72 by $5.59. The firm had revenue of $17.35 billion during the quarter, compared to analyst estimates of $17.23 billion. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $7.67 EPS. Analysts expect that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be issued a dividend of $1.08 per share. This is an increase from Allstate’s previous quarterly dividend of $1.00. This represents a $4.32 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Monday, March 2nd. Allstate’s dividend payout ratio is currently 11.31%.

Analyst Ratings Changes

ALL has been the topic of several research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Allstate in a research note on Wednesday, January 21st. Mizuho lifted their price target on shares of Allstate from $255.00 to $281.00 and gave the stock an “outperform” rating in a research note on Monday, February 9th. The Goldman Sachs Group reissued a “neutral” rating and set a $231.00 price objective on shares of Allstate in a report on Thursday, March 5th. William Blair downgraded shares of Allstate from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 18th. Finally, JPMorgan Chase & Co. raised their target price on shares of Allstate from $260.00 to $263.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Allstate has a consensus rating of “Moderate Buy” and a consensus target price of $238.88.

Insiders Place Their Bets

In other news, insider Suren Gupta sold 19,593 shares of Allstate stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.70% of the company’s stock.

Allstate 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.