Fisher Funds Management LTD Reduces Holdings in The Allstate Corporation $ALL

Fisher Funds Management LTD reduced its position in shares of The Allstate Corporation (NYSE:ALL) by 13.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,167 shares of the insurance provider’s stock after selling 7,127 shares during the period. Fisher Funds Management LTD’s holdings in Allstate were worth $9,365,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. MV Capital Management Inc. acquired a new stake in Allstate during the 4th quarter valued at $25,000. Navalign LLC purchased a new stake in Allstate during the 4th quarter worth $27,000. Dorato Capital Management acquired a new position in Allstate in the 4th quarter worth $27,000. Palisade Asset Management LLC purchased a new position in Allstate in the 3rd quarter valued at about $31,000. Finally, Princeton Global Asset Management LLC boosted 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 buying an additional 76 shares during the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Stock Performance

Allstate stock opened at $220.72 on Monday. The company has a market cap of $56.82 billion, a PE ratio of 4.87, a P/E/G ratio of 0.39 and a beta of 0.19. The company has a fifty day moving average price of $215.95 and a two-hundred day moving average price of $209.23. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $227.62.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating the consensus estimate of $7.31 by $3.34. The firm had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.53 earnings per share. Research analysts expect that The Allstate Corporation will post 29.55 earnings per share for the current year.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $1.08 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $4.32 annualized dividend and a dividend yield of 2.0%. Allstate’s payout ratio is 9.53%.

Analysts Set New Price Targets

Several analysts have recently weighed in on ALL shares. Zacks Research downgraded Allstate from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Keefe, Bruyette & Woods cut Allstate from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $266.00 to $242.00 in a research note on Monday, June 8th. Wells Fargo & Company increased their price target on Allstate from $229.00 to $243.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Citigroup raised their price objective on Allstate from $221.00 to $226.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Finally, Mizuho dropped their price objective on Allstate from $281.00 to $265.00 and set an “outperform” rating on the stock in a report on Friday, March 20th. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $240.33.

Insider Activity at Allstate

In related news, insider Mark Q. Prindiville sold 1,550 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the sale, the insider owned 27,558 shares of the company’s stock, valued at $5,959,968.66. This represents a 5.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrea Redmond sold 2,225 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following the sale, the director owned 2,225 shares in the company, valued at approximately $451,474.75. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 22,353 shares of company stock valued at $4,851,560 in the last quarter. Insiders own 1.55% 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.