Becker Capital Management Inc. Has $41.17 Million Stock Holdings in The Allstate Corporation $ALL

Becker Capital Management Inc. trimmed its stake in shares of The Allstate Corporation (NYSE:ALL) by 1.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 190,919 shares of the insurance provider’s stock after selling 2,447 shares during the quarter. Allstate accounts for 1.2% of Becker Capital Management Inc.’s portfolio, making the stock its 24th largest holding. Becker Capital Management Inc. owned approximately 0.07% of Allstate worth $41,173,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. boosted its position in Allstate by 79.7% in the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock valued at $27,000 after buying an additional 55 shares in the last quarter. Barnes Dennig Private Wealth Management LLC boosted its position in Allstate by 112.3% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock valued at $30,000 after buying an additional 73 shares during the last quarter. Clearstead Trust LLC boosted its holdings in Allstate by 3,800.0% in the second quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 152 shares during the last quarter. Armstrong Advisory Group Inc. boosted its stake in shares of Allstate by 72.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 67 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. bought a new position in Allstate in the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Buying and Selling

In other Allstate 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 sale, the insider owned 100,646 shares in the company, valued at $21,135,660. The trade was a 16.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Allstate Trading Up 0.7%

ALL stock opened at $214.17 on Monday. 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 $55.59 billion, a price-to-earnings ratio of 5.61, a price-to-earnings-growth ratio of 0.45 and a beta of 0.23. The company has a fifty day moving average price of $204.23 and a two-hundred day moving average price of $204.50. 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 released its quarterly earnings results 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. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The firm had revenue of $17.35 billion for the quarter, compared to analysts’ expectations of $17.23 billion. During the same period in the prior year, the firm earned $7.67 EPS. The business’s revenue was up 5.1% on a year-over-year basis. Equities analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be paid a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 2.0%. This is a boost from Allstate’s previous quarterly dividend of $1.00. The ex-dividend date is Monday, March 2nd. Allstate’s dividend payout ratio is currently 10.47%.

Analyst Ratings Changes

ALL has been the subject of several analyst reports. Mizuho boosted their target price on Allstate from $255.00 to $281.00 and gave the stock an “outperform” rating in a research report on Monday, February 9th. Wall Street Zen cut shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $215.00 target price (down from $245.00) on shares of Allstate in a research report on Tuesday, December 16th. Zacks Research raised shares of Allstate from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. Finally, Wells Fargo & Company decreased their price objective on Allstate from $228.00 to $227.00 and set an “equal weight” rating for the company in a report on Friday, February 20th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $239.29.

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.