Comerica Bank Cuts Stock Position in The Allstate Corporation $ALL

Comerica Bank lowered its position in The Allstate Corporation (NYSE:ALL) by 6.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 64,163 shares of the insurance provider’s stock after selling 4,446 shares during the period. Comerica Bank’s holdings in Allstate were worth $13,356,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. grew its position in Allstate by 79.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 55 shares during the last quarter. Dorato Capital Management purchased a new stake in Allstate during the 4th quarter worth approximately $27,000. Barnes Dennig Private Wealth Management LLC grew its position in Allstate by 112.3% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 73 shares during the last quarter. Princeton Global Asset Management LLC grew its position in Allstate by 101.3% during the 4th quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 76 shares during the last quarter. Finally, Palisade Asset Management LLC purchased a new stake in Allstate during the 3rd quarter worth approximately $31,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Stock Performance

Shares of NYSE ALL opened at $216.36 on Wednesday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $219.48. The company has a 50 day simple moving average of $210.01 and a two-hundred day simple moving average of $205.75. The stock has a market cap of $55.87 billion, a price-to-earnings ratio of 5.67, a PEG ratio of 0.44 and a beta of 0.22.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 EPS for the quarter, beating the consensus estimate of $8.72 by $5.59. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The business had revenue of $17.35 billion during the quarter, compared to analysts’ expectations of $17.23 billion. During the same period in the previous year, the business posted $7.67 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, analysts predict that The Allstate Corporation will post 25.82 earnings per share for the current year.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd were paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 2.0%. The ex-dividend date was Monday, March 2nd. This is a positive change from Allstate’s previous quarterly dividend of $1.00. Allstate’s dividend payout ratio (DPR) is presently 11.31%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ALL. Zacks Research downgraded shares of Allstate from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Cantor Fitzgerald reissued a “neutral” rating and set a $220.00 target price on shares of Allstate in a research report on Thursday, February 5th. Keefe, Bruyette & Woods boosted their target price on shares of Allstate from $254.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 10th. Mizuho dropped their target price on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, March 20th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Allstate from $260.00 to $263.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.65.

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.