Desjardins Global Asset Management Inc. cut its stake in shares of The Allstate Co. (NYSE:ALL - Free Report) by 86.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,369 shares of the insurance provider's stock after selling 8,607 shares during the period. Desjardins Global Asset Management Inc.'s holdings in Allstate were worth $192,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of ALL. Gradient Investments LLC raised its position in shares of Allstate by 1.6% during the fourth quarter. Gradient Investments LLC now owns 4,130 shares of the insurance provider's stock worth $578,000 after acquiring an additional 66 shares during the last quarter. SVB Wealth LLC boosted its position in Allstate by 1.2% during the fourth quarter. SVB Wealth LLC now owns 6,169 shares of the insurance provider's stock valued at $864,000 after acquiring an additional 72 shares during the last quarter. Apollon Wealth Management LLC grew its holdings in Allstate by 2.5% during the 4th quarter. Apollon Wealth Management LLC now owns 3,214 shares of the insurance provider's stock worth $436,000 after acquiring an additional 78 shares during the period. AdvisorNet Financial Inc raised its position in shares of Allstate by 1.5% in the 4th quarter. AdvisorNet Financial Inc now owns 5,384 shares of the insurance provider's stock worth $754,000 after acquiring an additional 82 shares in the last quarter. Finally, Carmel Capital Partners LLC raised its position in shares of Allstate by 19.2% in the 3rd quarter. Carmel Capital Partners LLC now owns 516 shares of the insurance provider's stock worth $57,000 after acquiring an additional 83 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.
Insider Activity at Allstate
In other Allstate news, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total value of $5,276,200.00. Following the sale, the insider now owns 63,731 shares of the company's stock, valued at $10,847,016.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of the firm's stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the completion of the sale, the chief accounting officer now directly owns 10,736 shares of the company's stock, valued at $1,712,069.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John E. Dugenske sold 31,000 shares of the company's stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total value of $5,276,200.00. Following the transaction, the insider now directly owns 63,731 shares in the company, valued at approximately $10,847,016.20. The disclosure for this sale can be found here. 1.80% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on ALL. Roth Mkm lifted their target price on Allstate from $175.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, April 8th. TheStreet upgraded shares of Allstate from a "c+" rating to a "b" rating in a report on Wednesday, February 7th. The Goldman Sachs Group increased their price objective on shares of Allstate from $164.00 to $195.00 and gave the stock a "buy" rating in a research report on Monday, March 25th. Jefferies Financial Group raised Allstate from a "hold" rating to a "buy" rating and boosted their target price for the company from $130.00 to $180.00 in a research report on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods upped their price target on Allstate from $181.00 to $189.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $173.71.
View Our Latest Report on Allstate
Allstate Stock Performance
NYSE:ALL opened at $169.12 on Friday. The Allstate Co. has a 52 week low of $100.57 and a 52 week high of $174.57. The firm has a 50-day moving average price of $163.59 and a two-hundred day moving average price of $146.60. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.51.
Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings results on Thursday, February 8th. The insurance provider reported $5.82 EPS for the quarter, beating analysts' consensus estimates of $3.87 by $1.95. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. The company had revenue of $14.83 billion during the quarter, compared to the consensus estimate of $12.69 billion. During the same period last year, the business posted ($1.36) earnings per share. Allstate's revenue was up 8.7% on a year-over-year basis. Analysts forecast that The Allstate Co. will post 13.5 earnings per share for the current year.
Allstate Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were issued a $0.92 dividend. This is an increase from Allstate's previous quarterly dividend of $0.89. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date was Friday, March 1st. Allstate's payout ratio is -296.77%.
Allstate Profile
(Free Report)
The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.
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