The Allstate Corporation $ALL Shares Purchased by Mezzasalma Advisors LLC

Mezzasalma Advisors LLC raised its holdings in shares of The Allstate Corporation (NYSE:ALL) by 58.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 23,918 shares of the insurance provider’s stock after purchasing an additional 8,837 shares during the quarter. Allstate comprises about 1.1% of Mezzasalma Advisors LLC’s holdings, making the stock its 24th biggest position. Mezzasalma Advisors LLC’s holdings in Allstate were worth $4,875,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ALL. Harbor Capital Advisors Inc. lifted its holdings in Allstate by 79.7% in the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 55 shares during the last quarter. Dorato Capital Management purchased a new stake in Allstate during the 4th quarter worth approximately $27,000. Barnes Dennig Private Wealth Management LLC raised its stake in shares of Allstate by 112.3% in the third 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 in the last quarter. Princeton Global Asset Management LLC raised its position in Allstate by 101.3% in the 4th quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 76 shares in the last quarter. Finally, Palisade Asset Management LLC acquired a new stake in Allstate in the 3rd quarter valued at about $31,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Buying and Selling

In other Allstate news, insider Suren Gupta sold 19,593 shares of the 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 directly 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

ALL has been the subject of several recent analyst reports. Cantor Fitzgerald restated a “neutral” rating and set a $220.00 price objective on shares of Allstate in a research report on Thursday, February 5th. Wells Fargo & Company cut their price objective 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. Citigroup increased their price objective on Allstate from $216.00 to $221.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. TD Cowen cut Allstate from a “buy” rating to a “hold” rating in a report on Monday, January 12th. Finally, JPMorgan Chase & Co. upped their price target on shares of Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Four equities 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 company’s stock. Based on data from MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and a consensus price target of $237.94.

Allstate Trading Up 0.0%

Shares of NYSE:ALL opened at $207.10 on Monday. 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 fifty-two week low of $176.00 and a fifty-two week high of $216.75. The company’s 50-day moving average price is $206.32 and its 200 day moving average price is $205.20. The company has a market cap of $53.75 billion, a PE ratio of 5.42, a P/E/G ratio of 0.42 and a beta of 0.22.

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

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 2nd were issued a dividend of $1.08 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $4.32 annualized dividend and a yield of 2.1%. This is an increase from Allstate’s previous quarterly dividend of $1.00. Allstate’s payout ratio is 11.31%.

Allstate 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.