Independence Bank of Kentucky acquired a new position in shares of Allstate Corp (NYSE:ALL) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,335 shares of the insurance provider’s stock, valued at approximately $454,000.
Several other large investors have also recently modified their holdings of ALL. Capital Planning Advisors LLC bought a new stake in shares of Allstate in the fourth quarter valued at approximately $226,000. Intrust Bank NA boosted its stake in shares of Allstate by 11.1% in the fourth quarter. Intrust Bank NA now owns 9,537 shares of the insurance provider’s stock valued at $999,000 after buying an additional 956 shares during the period. Advisory Services Network LLC boosted its stake in shares of Allstate by 71.4% in the fourth quarter. Advisory Services Network LLC now owns 19,723 shares of the insurance provider’s stock valued at $2,065,000 after buying an additional 8,213 shares during the period. Toronto Dominion Bank boosted its stake in shares of Allstate by 12.7% in the fourth quarter. Toronto Dominion Bank now owns 154,898 shares of the insurance provider’s stock valued at $16,220,000 after buying an additional 17,508 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of Allstate by 2.0% in the fourth quarter. Wells Fargo & Company MN now owns 5,281,498 shares of the insurance provider’s stock valued at $553,026,000 after buying an additional 102,609 shares during the period. Institutional investors own 76.49% of the company’s stock.
Several equities research analysts recently issued reports on ALL shares. Zacks Investment Research upgraded Allstate from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research note on Tuesday, December 12th. Wells Fargo & Co set a $110.00 price target on Allstate and gave the company a “buy” rating in a research note on Thursday, November 16th. B. Riley reiterated a “neutral” rating on shares of Allstate in a research note on Monday, November 6th. Goldman Sachs Group started coverage on Allstate in a research note on Monday, December 4th. They issued a “neutral” rating and a $104.00 price target for the company. Finally, Bank of America cut their price target on Allstate from $116.00 to $111.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $97.00.
Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, February 7th. The insurance provider reported $2.09 EPS for the quarter, beating the consensus estimate of $1.53 by $0.56. Allstate had a net margin of 8.28% and a return on equity of 12.57%. The business had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.09 billion. During the same period in the previous year, the business earned $2.17 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. equities research analysts anticipate that Allstate Corp will post 8.37 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 5th will be given a dividend of $0.46 per share. This is an increase from Allstate’s previous quarterly dividend of $0.37. This represents a $1.84 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Friday, March 2nd. Allstate’s payout ratio is currently 17.68%.
In other news, EVP Susan L. Lees sold 4,000 shares of the company’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $100.49, for a total transaction of $401,960.00. Following the completion of the transaction, the executive vice president now directly owns 24,341 shares in the company, valued at $2,446,027.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.58% of the stock is currently owned by corporate insiders.
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Allstate Company Profile
The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.
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