The Allstate Co. (NYSE:ALL) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. trimmed its holdings in The Allstate Co. (NYSE:ALLGet Rating) by 0.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 149,841 shares of the insurance provider’s stock after selling 700 shares during the period. Meyer Handelman Co. owned 0.05% of Allstate worth $18,989,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ALL. Renaissance Technologies LLC purchased a new position in shares of Allstate in the 4th quarter worth about $21,506,000. Hilltop Holdings Inc. raised its holdings in shares of Allstate by 6.7% in the 4th quarter. Hilltop Holdings Inc. now owns 5,198 shares of the insurance provider’s stock worth $612,000 after purchasing an additional 327 shares during the period. Nissay Asset Management Corp Japan ADV raised its holdings in shares of Allstate by 9.3% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 35,762 shares of the insurance provider’s stock worth $4,207,000 after purchasing an additional 3,038 shares during the period. Blair William & Co. IL raised its holdings in shares of Allstate by 110.7% in the 4th quarter. Blair William & Co. IL now owns 31,645 shares of the insurance provider’s stock worth $3,723,000 after purchasing an additional 16,626 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Allstate by 44.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,503,143 shares of the insurance provider’s stock valued at $176,844,000 after buying an additional 464,532 shares during the period. 76.17% of the stock is owned by institutional investors and hedge funds.

Allstate Stock Performance

Shares of ALL traded down $1.07 during mid-day trading on Friday, hitting $126.90. The stock had a trading volume of 27,445 shares, compared to its average volume of 1,645,127. The company has a market cap of $34.30 billion, a PE ratio of 44.44, a PEG ratio of 4.83 and a beta of 0.71. The company’s fifty day simple moving average is $123.24 and its two-hundred day simple moving average is $128.40. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.44. The Allstate Co. has a fifty-two week low of $106.11 and a fifty-two week high of $144.46.

Allstate (NYSE:ALLGet Rating) last issued its earnings results on Wednesday, August 3rd. The insurance provider reported ($0.76) EPS for the quarter, topping the consensus estimate of ($1.26) by $0.50. Allstate had a return on equity of 7.53% and a net margin of 1.99%. The company had revenue of $12.95 billion during the quarter, compared to analyst estimates of $12.16 billion. During the same quarter last year, the firm earned $3.79 EPS. On average, equities analysts expect that The Allstate Co. will post 5.13 earnings per share for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Wednesday, August 31st will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $3.40 dividend on an annualized basis and a yield of 2.68%. Allstate’s dividend payout ratio is currently 118.47%.

Insider Activity at Allstate

In related news, EVP Mark Q. Prindiville sold 5,511 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $125.93, for a total transaction of $694,000.23. Following the completion of the transaction, the executive vice president now owns 15,552 shares in the company, valued at approximately $1,958,463.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on ALL shares. TheStreet upgraded Allstate from a “c+” rating to a “b-” rating in a report on Friday, September 16th. Wells Fargo & Company dropped their target price on Allstate from $116.00 to $110.00 and set an “underweight” rating on the stock in a report on Thursday, July 21st. Raymond James dropped their target price on Allstate from $165.00 to $155.00 in a report on Thursday, July 21st. Barclays dropped their target price on Allstate from $123.00 to $120.00 and set an “equal weight” rating on the stock in a report on Monday, August 8th. Finally, Evercore ISI lifted their price objective on Allstate to $126.00 in a report on Tuesday, August 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Allstate currently has an average rating of “Moderate Buy” and a consensus price target of $142.00.

Allstate Profile

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The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home and stand-alone scheduled personal property; and commercial lines products under the Allstate and Encompass brand names.

See Also

Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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