Cornerstone Capital Management Holdings LLC. reduced its position in shares of Allstate Corp (NYSE:ALL) by 15.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 304,574 shares of the insurance provider’s stock after selling 53,975 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned about 0.09% of Allstate worth $31,890,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in ALL. Jennison Associates LLC bought a new stake in Allstate during the 3rd quarter worth about $1,954,000. Global X MANAGEMENT CO LLC raised its holdings in Allstate by 5.7% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 10,127 shares of the insurance provider’s stock worth $931,000 after purchasing an additional 550 shares during the last quarter. FDx Advisors Inc. raised its holdings in Allstate by 11.1% during the 3rd quarter. FDx Advisors Inc. now owns 13,841 shares of the insurance provider’s stock worth $1,272,000 after purchasing an additional 1,379 shares during the last quarter. Toronto Dominion Bank raised its holdings in Allstate by 11.1% during the 3rd quarter. Toronto Dominion Bank now owns 137,390 shares of the insurance provider’s stock worth $12,627,000 after purchasing an additional 13,713 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. raised its holdings in Allstate by 117.4% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 235,509 shares of the insurance provider’s stock worth $21,646,000 after purchasing an additional 127,166 shares during the last quarter. 75.88% of the stock is owned by hedge funds and other institutional investors.
Shares of Allstate Corp (NYSE ALL) opened at $96.41 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.25 and a quick ratio of 0.25. The company has a market capitalization of $33,620.35, a PE ratio of 11.52, a PEG ratio of 1.37 and a beta of 1.00. Allstate Corp has a 52 week low of $79.09 and a 52 week high of $105.36.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Monday, March 5th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.91%. This is a boost from Allstate’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, March 2nd. Allstate’s dividend payout ratio is presently 21.98%.
Several brokerages have weighed in on ALL. Wells Fargo & Co set a $110.00 price objective on Allstate and gave the stock a “buy” rating in a report on Thursday, November 16th. Deutsche Bank dropped their price objective on Allstate from $102.00 to $100.00 and set a “hold” rating for the company in a report on Friday, February 9th. Bank of America dropped their price objective on Allstate from $116.00 to $111.00 and set a “buy” rating for the company in a report on Thursday, February 8th. Argus reissued a “buy” rating and set a $110.00 price objective on shares of Allstate in a report on Wednesday, February 21st. Finally, Citigroup lowered their price target on Allstate from $118.00 to $111.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $99.00.
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The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.
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