Bank of Montreal Can decreased its stake in Allstate Corp (NYSE:ALL) by 5.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,789,220 shares of the insurance provider’s stock after selling 94,835 shares during the period. Bank of Montreal Can owned approximately 0.52% of Allstate worth $176,598,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in ALL. Ancora Advisors LLC acquired a new stake in shares of Allstate in the first quarter worth $274,000. ETF Managers Group LLC acquired a new stake in shares of Allstate in the first quarter worth $226,000. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Allstate by 1.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 40,210 shares of the insurance provider’s stock worth $3,812,000 after acquiring an additional 749 shares during the last quarter. Mariner LLC grew its stake in shares of Allstate by 148.0% in the first quarter. Mariner LLC now owns 5,117 shares of the insurance provider’s stock worth $485,000 after acquiring an additional 3,054 shares during the last quarter. Finally, Guggenheim Capital LLC grew its stake in shares of Allstate by 4.4% in the first quarter. Guggenheim Capital LLC now owns 530,877 shares of the insurance provider’s stock worth $50,327,000 after acquiring an additional 22,475 shares during the last quarter. Institutional investors and hedge funds own 76.22% of the company’s stock.
Several equities research analysts have recently issued reports on the stock. ValuEngine downgraded shares of Allstate from a “hold” rating to a “sell” rating in a research note on Thursday, June 21st. Zacks Investment Research downgraded shares of Allstate from a “buy” rating to a “hold” rating in a research note on Tuesday, June 19th. Citigroup set a $115.00 price target on shares of Allstate and gave the stock a “buy” rating in a research note on Friday. B. Riley lifted their price target on shares of Allstate from $84.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, July 16th. Finally, Buckingham Research upgraded shares of Allstate from an “underperform” rating to a “neutral” rating and set a $88.00 price target on the stock in a research note on Wednesday, July 18th. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Allstate presently has a consensus rating of “Hold” and a consensus price target of $104.62.
In other Allstate news, EVP Susan L. Lees sold 22,189 shares of Allstate stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $99.24, for a total transaction of $2,202,036.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Harriet K. Harty sold 10,515 shares of Allstate stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $98.87, for a total value of $1,039,618.05. Following the transaction, the executive vice president now directly owns 14,606 shares of the company’s stock, valued at $1,444,095.22. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,432 shares of company stock valued at $5,386,208. Company insiders own 1.40% of the company’s stock.
ALL opened at $93.16 on Friday. Allstate Corp has a fifty-two week low of $88.29 and a fifty-two week high of $105.36. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.26 and a current ratio of 0.26. The firm has a market cap of $34.17 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 1.27 and a beta of 0.92.
Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, August 1st. The insurance provider reported $1.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.45. Allstate had a net margin of 9.06% and a return on equity of 15.21%. The firm had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.53 billion. During the same quarter in the previous year, the company earned $1.38 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Allstate Corp will post 9.31 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Friday, August 31st were paid a dividend of $0.46 per share. The ex-dividend date was Thursday, August 30th. This represents a $1.84 dividend on an annualized basis and a yield of 1.98%. Allstate’s dividend payout ratio is currently 27.42%.
Allstate Company Profile
The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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