FNY Investment Advisers LLC Raises Stock Holdings in The Allstate Corporation $ALL

FNY Investment Advisers LLC raised its holdings in shares of The Allstate Corporation (NYSE:ALL) by 707.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,300 shares of the insurance provider’s stock after purchasing an additional 9,900 shares during the quarter. Allstate accounts for 0.7% of FNY Investment Advisers LLC’s portfolio, making the stock its 28th largest position. FNY Investment Advisers LLC’s holdings in Allstate were worth $2,352,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. grew its position in shares of Allstate by 79.7% during the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock worth $27,000 after buying an additional 55 shares in the last quarter. Dorato Capital Management acquired a new stake in Allstate in the fourth quarter valued at $27,000. Barnes Dennig Private Wealth Management LLC boosted its stake in Allstate by 112.3% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 73 shares during the last quarter. Palisade Asset Management LLC bought a new position in Allstate during the 3rd quarter valued at $31,000. Finally, Armstrong Advisory Group Inc. grew its holdings in Allstate by 72.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 67 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Allstate

In related news, insider Suren Gupta sold 19,593 shares of the firm’s 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 sale, the insider owned 100,646 shares of the company’s stock, valued at approximately $21,135,660. This trade represents a 16.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.70% of the company’s stock.

Allstate Trading Up 1.5%

Allstate stock opened at $207.10 on Friday. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $216.75. The firm’s 50-day moving average is $206.05 and its 200-day moving average is $205.01. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market cap of $53.75 billion, a P/E ratio of 5.42, a PEG ratio of 0.41 and a beta of 0.22.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $17.23 billion. During the same quarter in the prior year, the firm earned $7.67 EPS. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd were 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%. The ex-dividend date was Monday, March 2nd. This is a positive change from Allstate’s previous quarterly dividend of $1.00. Allstate’s payout ratio is currently 11.31%.

Analyst Ratings Changes

ALL has been the subject of several research analyst reports. Wells Fargo & Company dropped their target price on shares of Allstate from $228.00 to $227.00 and set an “equal weight” rating for the company in a research report on Friday, February 20th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $220.00 price target on shares of Allstate in a research note on Thursday, February 5th. Morgan Stanley reissued an “equal weight” rating and issued a $215.00 price objective (down from $245.00) on shares of Allstate in a report on Tuesday, December 16th. JPMorgan Chase & Co. upped their price objective on Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Finally, Zacks Research raised Allstate from a “hold” rating to a “strong-buy” rating in a report on Friday, February 20th. Four analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and an average target price of $237.94.

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.