Burns Matteson Capital Management LLC Takes Position in The Allstate Corporation $ALL

Burns Matteson Capital Management LLC acquired a new position in shares of The Allstate Corporation (NYSE:ALL) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,965 shares of the insurance provider’s stock, valued at approximately $617,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in shares of Allstate by 60.2% in the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock worth $1,253,000 after purchasing an additional 2,443 shares during the period. Revolve Wealth Partners LLC acquired a new stake in shares of Allstate during the fourth quarter worth $231,000. Schroder Investment Management Group raised its stake in Allstate by 23.9% during the second quarter. Schroder Investment Management Group now owns 74,053 shares of the insurance provider’s stock worth $14,908,000 after buying an additional 14,285 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Allstate by 5.5% in the second quarter. Fisher Asset Management LLC now owns 2,998 shares of the insurance provider’s stock valued at $604,000 after buying an additional 155 shares during the period. Finally, OMERS ADMINISTRATION Corp lifted its holdings in Allstate by 2.1% in the second quarter. OMERS ADMINISTRATION Corp now owns 19,471 shares of the insurance provider’s stock valued at $3,920,000 after buying an additional 400 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Price Performance

Shares of NYSE ALL opened at $207.16 on Wednesday. The firm has a market capitalization of $53.77 billion, a P/E ratio of 5.42, a P/E/G ratio of 0.42 and a beta of 0.23. The firm’s 50-day moving average price is $205.61 and its 200-day moving average price is $205.00. 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 1-year low of $176.00 and a 1-year high of $216.75.

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

Allstate Increases Dividend

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

Insider Buying and Selling at Allstate

In related news, insider Suren Gupta sold 19,593 shares of the stock in a transaction 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 in the company, valued at $21,135,660. This trade represents a 16.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is owned by insiders.

Analysts Set New Price Targets

ALL has been the subject of a number of recent analyst reports. Mizuho decreased their price target on Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, March 20th. JPMorgan Chase & Co. upped their target price on Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Citigroup raised their target price on Allstate from $216.00 to $221.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 10th. Morgan Stanley reiterated an “equal weight” rating and issued a $215.00 target price (down from $245.00) on shares of Allstate in a report on Tuesday, December 16th. Finally, Evercore set a $225.00 price target on Allstate in a research note on Wednesday, January 7th. Four analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $237.94.

About Allstate

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.