Bank of New York Mellon Corp Grows Stake in The Allstate Corporation $ALL

Bank of New York Mellon Corp grew its holdings in shares of The Allstate Corporation (NYSE:ALL) by 0.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,894,060 shares of the insurance provider’s stock after acquiring an additional 4,868 shares during the quarter. Bank of New York Mellon Corp’s holdings in Allstate were worth $406,560,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALL. Norges Bank purchased a new position in Allstate during the 2nd quarter valued at $482,870,000. Swedbank AB increased its position in Allstate by 2,157.8% during the 3rd quarter. Swedbank AB now owns 861,725 shares of the insurance provider’s stock valued at $184,969,000 after buying an additional 823,559 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Allstate by 52.7% during the second quarter. Ameriprise Financial Inc. now owns 1,385,901 shares of the insurance provider’s stock valued at $279,062,000 after acquiring an additional 478,598 shares in the last quarter. Vanguard Group Inc. increased its stake in Allstate by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 33,235,231 shares of the insurance provider’s stock valued at $6,690,584,000 after purchasing an additional 435,145 shares in the last quarter. Finally, Jupiter Asset Management Ltd. bought a new stake in shares of Allstate during the second quarter valued at approximately $68,590,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insider Buying and Selling at Allstate

In other news, insider Suren Gupta sold 21,871 shares of the stock in a transaction on Friday, November 21st. The shares were sold at an average price of $215.21, for a total value of $4,706,857.91. Following the completion of the sale, the insider directly owned 100,646 shares of the company’s stock, valued at $21,660,025.66. This represents a 17.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 48,400 shares of company stock valued at $10,313,256 in the last three months. Corporate insiders own 1.70% of the company’s stock.

Allstate Price Performance

Shares of Allstate stock opened at $198.25 on Friday. The stock’s fifty day moving average is $204.88 and its 200 day moving average is $203.32. The Allstate Corporation has a one year low of $176.00 and a one year high of $215.89. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a market cap of $51.88 billion, a P/E ratio of 6.42, a P/E/G ratio of 0.43 and a beta of 0.24.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $11.17 EPS for the quarter, topping the consensus estimate of $5.48 by $5.69. The firm had revenue of $17.26 billion for the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a return on equity of 35.42% and a net margin of 12.53%.The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.91 earnings per share. Sell-side analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $4.00 annualized dividend and a yield of 2.0%. Allstate’s payout ratio is currently 12.95%.

Analyst Ratings Changes

ALL has been the topic of several recent analyst reports. Mizuho set a $255.00 price objective on Allstate in a research report on Wednesday, January 14th. UBS Group raised their price target on shares of Allstate from $250.00 to $255.00 and gave the company a “buy” rating in a report on Monday, November 10th. Evercore ISI set a $225.00 price objective on shares of Allstate in a report on Wednesday, January 7th. Morgan Stanley restated an “equal weight” rating and issued a $215.00 target price (down previously from $245.00) on shares of Allstate in a report on Tuesday, December 16th. Finally, The Goldman Sachs Group set a $227.00 target price on shares of Allstate in a research note on Wednesday, January 7th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $236.19.

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.