Ameriprise Financial Inc. Grows Stake in The Allstate Corporation $ALL

Ameriprise Financial Inc. grew its holdings in shares of The Allstate Corporation (NYSE:ALL) by 20.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,662,652 shares of the insurance provider’s stock after purchasing an additional 276,751 shares during the period. Ameriprise Financial Inc. owned approximately 0.64% of Allstate worth $356,956,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ALL. Brighton Jones LLC boosted its holdings in Allstate by 60.2% in the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock worth $1,253,000 after acquiring an additional 2,443 shares in the last quarter. Revolve Wealth Partners LLC purchased a new position in shares of Allstate in the fourth quarter worth $231,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Allstate during the second quarter worth $640,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Allstate by 7.2% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 64,948 shares of the insurance provider’s stock valued at $13,075,000 after buying an additional 4,346 shares during the last quarter. Finally, Meridian Wealth Management LLC increased its position in shares of Allstate by 27.3% in the 2nd quarter. Meridian Wealth Management LLC now owns 2,595 shares of the insurance provider’s stock valued at $522,000 after acquiring an additional 557 shares during the period. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Morgan Stanley reaffirmed an “equal weight” rating and set a $215.00 price target (down from $245.00) on shares of Allstate in a research report on Tuesday, December 16th. TD Cowen downgraded Allstate from a “buy” rating to a “hold” rating in a report on Monday, January 12th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $220.00 price target on shares of Allstate in a report on Thursday, February 5th. Zacks Research raised shares of Allstate from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. Finally, Mizuho lifted their price objective on shares of Allstate from $255.00 to $281.00 and gave the company an “outperform” rating in a research note on Monday, February 9th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and an average price target of $238.88.

Allstate Trading Up 0.9%

Shares of NYSE:ALL opened at $208.04 on Tuesday. 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 $176.00 and a 12-month high of $216.75. The business has a 50 day moving average of $204.57 and a two-hundred day moving average of $204.74. The company has a market capitalization of $53.99 billion, a PE ratio of 5.45, a PEG ratio of 0.43 and a beta of 0.23.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $17.23 billion. During the same quarter last year, the company earned $7.67 EPS. The business’s revenue was up 5.1% on a year-over-year basis. As a group, analysts forecast that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Increases Dividend

The company also recently disclosed 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 is a positive change 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%. Allstate’s dividend payout ratio is presently 11.31%.

Insider Buying and Selling at Allstate

In other news, insider Suren Gupta sold 19,593 shares of the stock in a transaction dated 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company 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.