Cullen Investment Group LTD. Sells 6,415 Shares of The Allstate Corporation $ALL

Cullen Investment Group LTD. lowered its stake in The Allstate Corporation (NYSE:ALL) by 44.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,020 shares of the insurance provider’s stock after selling 6,415 shares during the quarter. Cullen Investment Group LTD.’s holdings in Allstate were worth $1,702,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ALL. Norges Bank bought a new position in Allstate in the second quarter valued at approximately $482,870,000. Swedbank AB raised its stake in shares of Allstate by 2,157.8% during the 3rd quarter. Swedbank AB now owns 861,725 shares of the insurance provider’s stock worth $184,969,000 after purchasing an additional 823,559 shares in the last quarter. Woodline Partners LP acquired a new stake in shares of Allstate in the 3rd quarter valued at approximately $148,641,000. Ameriprise Financial Inc. grew its stake in shares of Allstate by 52.7% in the second 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, Danske Bank A S bought a new position in shares of Allstate in the third quarter valued at $100,596,000. Institutional investors own 76.47% of the company’s stock.

Analyst Ratings Changes

ALL has been the topic of several analyst reports. Wells Fargo & Company dropped their price target on shares of Allstate from $228.00 to $227.00 and set an “equal weight” rating on the stock in a research report on Friday, February 20th. Evercore set a $225.00 price objective on shares of Allstate in a research note on Wednesday, January 7th. Zacks Research raised shares of Allstate from a “hold” rating to a “strong-buy” rating in a report on Friday, February 20th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $220.00 target price on shares of Allstate in a research note on Thursday, February 5th. Finally, Citigroup lifted their price target on Allstate from $216.00 to $221.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Four investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $237.94.

Allstate Trading Down 1.3%

ALL stock opened at $204.57 on Thursday. The Allstate Corporation has a one year low of $176.00 and a one year high of $216.75. The stock has a market cap of $53.09 billion, a price-to-earnings ratio of 5.36, a price-to-earnings-growth ratio of 0.42 and a beta of 0.23. The company has a fifty day moving average price of $204.59 and a two-hundred day moving average price of $204.82. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.37.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, beating the consensus estimate of $8.72 by $5.59. The company had revenue of $17.35 billion for 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 company’s revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm earned $7.67 earnings per share. Equities analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Increases Dividend

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

Insider Transactions at Allstate

In other Allstate news, insider Suren Gupta sold 19,593 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider directly 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.70% of the stock is owned by company insiders.

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.