Meyer Handelman Co. lowered its position in The Allstate Co. (NYSE:ALL – Get Rating) by 1.9% during the fourth quarter, Holdings Channel reports. The firm owned 144,987 shares of the insurance provider’s stock after selling 2,854 shares during the period. Meyer Handelman Co.’s holdings in Allstate were worth $19,660,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of ALL. Accurate Wealth Management LLC bought a new stake in shares of Allstate in the 4th quarter valued at $27,000. Cowa LLC bought a new stake in shares of Allstate in the 1st quarter valued at $30,000. Standard Family Office LLC bought a new stake in shares of Allstate in the 3rd quarter valued at $37,000. First Personal Financial Services bought a new stake in shares of Allstate in the 3rd quarter valued at $43,000. Finally, Hexagon Capital Partners LLC increased its stake in Allstate by 28.1% during the 3rd quarter. Hexagon Capital Partners LLC now owns 356 shares of the insurance provider’s stock valued at $44,000 after purchasing an additional 78 shares in the last quarter. Institutional investors own 77.48% of the company’s stock.
Wall Street Analysts Forecast Growth
ALL has been the subject of several recent analyst reports. Citigroup reduced their target price on shares of Allstate from $160.00 to $150.00 in a research note on Thursday, January 19th. StockNews.com started coverage on shares of Allstate in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Barclays cut their price target on shares of Allstate from $125.00 to $122.00 and set an “equal weight” rating on the stock in a report on Wednesday. Evercore ISI cut their price target on shares of Allstate from $138.00 to $132.00 and set an “in-line” rating on the stock in a report on Thursday, March 23rd. Finally, BMO Capital Markets dropped their price objective on shares of Allstate from $130.00 to $120.00 and set a “market perform” rating on the stock in a report on Wednesday, March 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and a consensus price target of $145.21.
Insider Activity
In related news, CFO Jesse E. Merten sold 29,451 shares of the stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $134.18, for a total transaction of $3,951,735.18. Following the transaction, the chief financial officer now owns 16,668 shares of the company’s stock, valued at approximately $2,236,512.24. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.77% of the company’s stock.
Allstate Price Performance
Allstate stock opened at $112.13 on Friday. The company has a fifty day simple moving average of $121.29 and a 200-day simple moving average of $127.81. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $29.51 billion, a price-to-earnings ratio of -21.08, a PEG ratio of 2.54 and a beta of 0.57. The Allstate Co. has a 52-week low of $103.20 and a 52-week high of $144.46.
Allstate (NYSE:ALL – Get Rating) last posted its earnings results on Thursday, February 2nd. The insurance provider reported ($1.36) EPS for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.01. Allstate had a negative return on equity of 1.04% and a negative net margin of 2.55%. The company had revenue of $13.55 billion for the quarter, compared to the consensus estimate of $13.45 billion. During the same quarter in the previous year, the business earned $2.75 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities analysts anticipate that The Allstate Co. will post 6.54 EPS for the current fiscal year.
Allstate Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, April 3rd. Stockholders of record on Tuesday, February 28th were given a dividend of $0.89 per share. This is a positive change from Allstate’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend was Monday, February 27th. Allstate’s dividend payout ratio (DPR) is currently -66.92%.
Allstate Profile
The Allstate Corp. engages in the property and casualty insurance business and the provision of protection solutions. It operates through following business segments: Allstate Protection, Protection Services, Allstate Health and Benefits, Run-off Property-Liability, and Corporate and Other. The Allstate Protection segment offers private passenger auto, homeowners, other personal lines, and commercial insurance marketed under the Allstate, National General, and Answer Financial brand names.
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