Barrow Hanley Mewhinney & Strauss LLC Sells 10,135 Shares of The Allstate Corporation $ALL

Barrow Hanley Mewhinney & Strauss LLC cut its stake in The Allstate Corporation (NYSE:ALL) by 2.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 503,750 shares of the insurance provider’s stock after selling 10,135 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned about 0.19% of Allstate worth $108,130,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in Allstate in the 2nd quarter worth $482,870,000. Swedbank AB lifted its stake in shares of Allstate by 2,157.8% in the 3rd quarter. Swedbank AB now owns 861,725 shares of the insurance provider’s stock valued at $184,969,000 after acquiring an additional 823,559 shares during the last quarter. Ameriprise Financial Inc. lifted its position in 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 purchasing an additional 478,598 shares during the last quarter. Vanguard Group Inc. raised its holdings in Allstate by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 33,235,231 shares of the insurance provider’s stock valued at $6,690,584,000 after buying an additional 435,145 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Allstate by 18.2% during the third quarter. Dimensional Fund Advisors LP now owns 2,606,451 shares of the insurance provider’s stock valued at $559,435,000 after acquiring an additional 401,700 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

Allstate Trading Down 0.1%

NYSE:ALL opened at $207.44 on Wednesday. The stock has a market cap of $53.84 billion, a price-to-earnings ratio of 5.43, a PEG ratio of 0.43 and a beta of 0.23. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average price is $204.60 and its 200-day moving average price is $204.66. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $216.75.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, topping analysts’ consensus estimates of $8.72 by $5.59. The business had revenue of $17.35 billion during the quarter, compared to analyst estimates of $17.23 billion. Allstate had a return on equity of 39.20% and a net margin of 15.19%.Allstate’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $7.67 EPS. On average, equities research analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors 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 a positive change from Allstate’s previous quarterly dividend of $1.00. Allstate’s payout ratio is currently 11.31%.

Insider Transactions at Allstate

In other news, insider Suren Gupta sold 19,593 shares of the stock in a transaction on 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 directly owned 100,646 shares of the company’s stock, valued at $21,135,660. This represents a 16.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

ALL has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of Allstate from $254.00 to $260.00 and gave the company an “outperform” rating in a research report on Tuesday, February 10th. Evercore set a $225.00 target price on shares of Allstate in a research note on Wednesday, January 7th. Citigroup boosted their price target on shares of Allstate from $216.00 to $221.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. Morgan Stanley reissued an “equal weight” rating and issued a $215.00 price target (down from $245.00) on shares of Allstate in a research note on Tuesday, December 16th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $220.00 price objective on shares of Allstate in a research 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 given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $238.88.

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.