Cullen Investment Group LTD. Has $1.70 Million Stock Holdings in The Allstate Corporation $ALL

Cullen Investment Group LTD. decreased its position in shares of The Allstate Corporation (NYSE:ALL) by 44.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,020 shares of the insurance provider’s stock after selling 6,415 shares during the period. Cullen Investment Group LTD.’s holdings in Allstate were worth $1,702,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Moody National Bank Trust Division boosted its position in shares of Allstate by 6.2% in the fourth quarter. Moody National Bank Trust Division now owns 2,929 shares of the insurance provider’s stock valued at $610,000 after acquiring an additional 170 shares during the period. Viking Fund Management LLC increased its position in Allstate by 12.0% during the fourth quarter. Viking Fund Management LLC now owns 28,000 shares of the insurance provider’s stock worth $5,828,000 after acquiring an additional 3,000 shares during the period. E. Ohman J or Asset Management AB acquired a new stake in Allstate in the 4th quarter worth about $1,942,000. Avanza Fonder AB raised its stake in Allstate by 17.8% in the 4th quarter. Avanza Fonder AB now owns 22,336 shares of the insurance provider’s stock worth $4,649,000 after purchasing an additional 3,375 shares in the last quarter. Finally, Sunflower Bank N.A. bought a new stake in Allstate in the 4th quarter valued at about $204,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ALL shares. The Goldman Sachs Group restated a “neutral” rating and set a $231.00 target price on shares of Allstate in a research report on Thursday, March 5th. Keefe, Bruyette & Woods boosted their price target on Allstate from $254.00 to $260.00 and gave the company an “outperform” rating in a research note on Tuesday, February 10th. Weiss Ratings raised Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday. Raymond James Financial restated a “strong-buy” rating and set a $260.00 price objective on shares of Allstate in a research note on Tuesday, March 3rd. Finally, William Blair cut Allstate from an “outperform” rating to a “market perform” rating in a report on Thursday, December 18th. Four research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $237.94.

Allstate Price Performance

ALL stock opened at $204.57 on Thursday. The company’s 50-day moving average price is $204.59 and its two-hundred day moving average price is $204.82. The firm has a market cap of $53.09 billion, a P/E ratio of 5.36, a P/E/G ratio of 0.42 and a beta of 0.23. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The Allstate Corporation has a 12 month low of $176.00 and a 12 month high of $216.75.

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

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be issued a $1.08 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.1%. This is a boost from Allstate’s previous quarterly dividend of $1.00. Allstate’s dividend payout ratio (DPR) is 11.31%.

Insider Buying and Selling at Allstate

In other news, insider Suren Gupta sold 19,593 shares of Allstate 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 owned 100,646 shares in the company, 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. Corporate insiders own 1.70% of the company’s stock.

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.