Allworth Financial LP Purchases 4,083 Shares of The Allstate Corporation $ALL

Allworth Financial LP boosted its position in shares of The Allstate Corporation (NYSE:ALL) by 6.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,042 shares of the insurance provider’s stock after buying an additional 4,083 shares during the period. Allworth Financial LP’s holdings in Allstate were worth $13,961,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ALL. State Street Corp boosted its position in shares of Allstate by 0.7% during the 3rd quarter. State Street Corp now owns 11,859,517 shares of the insurance provider’s stock worth $2,557,362,000 after acquiring an additional 85,468 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Allstate by 2.5% in the 2nd quarter. Franklin Resources Inc. now owns 4,670,113 shares of the insurance provider’s stock valued at $940,140,000 after purchasing an additional 112,858 shares in the last quarter. Boston Partners increased its stake in shares of Allstate by 14.9% in the 3rd quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock valued at $654,652,000 after purchasing an additional 395,195 shares during the last quarter. Raymond James Financial Inc. raised its holdings in shares of Allstate by 3.3% during the 2nd quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider’s stock worth $562,388,000 after buying an additional 88,620 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Allstate by 18.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,606,451 shares of the insurance provider’s stock worth $559,435,000 after buying an additional 401,700 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Stock Performance

Shares of Allstate stock opened at $203.94 on Friday. The stock has a market cap of $52.93 billion, a price-to-earnings ratio of 5.34, a P/E/G ratio of 0.42 and a beta of 0.23. The Allstate Corporation has a twelve month low of $176.00 and a twelve month high of $216.75. The company’s fifty day moving average is $204.37 and its 200 day moving average is $204.76. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the company earned $7.67 EPS. Sell-side analysts forecast that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.1%. This is a positive change from Allstate’s previous quarterly dividend of $1.00. The ex-dividend date is Monday, March 2nd. Allstate’s dividend payout ratio is 11.31%.

Insider Activity

In related news, insider Suren Gupta sold 19,593 shares of Allstate stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total value of $4,114,530.00. Following the transaction, the insider directly owned 100,646 shares of the company’s stock, valued at $21,135,660. The trade was a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods raised their price objective on Allstate from $254.00 to $260.00 and gave the company an “outperform” rating in a research note on Tuesday, February 10th. The Goldman Sachs Group reissued a “neutral” rating and set a $231.00 target price on shares of Allstate in a research note on Thursday, March 5th. JPMorgan Chase & Co. increased their target price on shares of Allstate from $260.00 to $263.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Mizuho lifted their price target on shares of Allstate from $255.00 to $281.00 and gave the company an “outperform” rating in a report on Monday, February 9th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $220.00 price objective on shares of Allstate in a research report on Thursday, February 5th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.