Saybrook Capital NC Takes $208,000 Position in The Allstate Co. (NYSE:ALL)

Saybrook Capital NC purchased a new stake in The Allstate Co. (NYSE:ALL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,487 shares of the insurance provider’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALL. Vanguard Group Inc. raised its position in shares of Allstate by 11.5% in the third quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock valued at $3,595,266,000 after buying an additional 3,322,673 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Allstate by 123.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,540,295 shares of the insurance provider’s stock valued at $751,264,000 after acquiring an additional 3,064,105 shares during the last quarter. Cowa LLC bought a new position in Allstate in the first quarter valued at approximately $30,000. Norges Bank bought a new position in Allstate in the fourth quarter valued at approximately $190,865,000. Finally, Invesco Ltd. increased its stake in Allstate by 46.6% in the third quarter. Invesco Ltd. now owns 4,121,941 shares of the insurance provider’s stock valued at $459,225,000 after acquiring an additional 1,311,095 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Stock Performance

Shares of NYSE ALL traded down $1.05 during trading on Tuesday, hitting $164.71. 188,692 shares of the company traded hands, compared to its average volume of 1,670,823. The Allstate Co. has a fifty-two week low of $100.57 and a fifty-two week high of $174.57. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.37 and a quick ratio of 0.37. The business’s fifty day moving average is $163.22 and its 200 day moving average is $145.95.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share for the quarter, beating the consensus estimate of $3.87 by $1.95. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The business had revenue of $14.83 billion for the quarter, compared to analysts’ expectations of $12.69 billion. During the same quarter last year, the firm earned ($1.36) EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities research analysts forecast that The Allstate Co. will post 13.41 EPS for the current year.

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a $0.92 dividend. This is a positive change from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date was Friday, March 1st. This represents a $3.68 annualized dividend and a yield of 2.23%. Allstate’s dividend payout ratio (DPR) is -296.77%.

Insider Buying and Selling at Allstate

In other Allstate news, insider John E. Dugenske sold 31,000 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total value of $5,276,200.00. Following the completion of the sale, the insider now owns 63,731 shares in the company, valued at approximately $10,847,016.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CAO John C. Pintozzi sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the completion of the sale, the chief accounting officer now owns 10,736 shares in the company, valued at approximately $1,712,069.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John E. Dugenske sold 31,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the sale, the insider now owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ALL. TheStreet raised shares of Allstate from a “c+” rating to a “b” rating in a research note on Wednesday, February 7th. Keefe, Bruyette & Woods boosted their target price on shares of Allstate from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Jefferies Financial Group raised shares of Allstate from a “hold” rating to a “buy” rating and boosted their target price for the stock from $130.00 to $180.00 in a research note on Tuesday, January 9th. UBS Group boosted their target price on shares of Allstate from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Finally, Raymond James boosted their price objective on shares of Allstate from $155.00 to $180.00 and gave the stock a “strong-buy” rating in a research note on Monday, January 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $173.71.

Allstate Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.