Sage Mountain Advisors LLC Makes New Investment in The Allstate Co. (NYSE:ALL)

Sage Mountain Advisors LLC bought a new position in shares of The Allstate Co. (NYSE:ALL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,566 shares of the insurance provider’s stock, valued at approximately $219,000.

A number of other hedge funds also recently modified their holdings of the stock. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new stake in shares of Allstate in the 4th quarter worth approximately $284,000. OLD National Bancorp IN raised its holdings in shares of Allstate by 3.9% in the 4th quarter. OLD National Bancorp IN now owns 4,504 shares of the insurance provider’s stock worth $630,000 after purchasing an additional 170 shares during the period. Nikulski Financial Inc. raised its holdings in shares of Allstate by 2.2% in the 4th quarter. Nikulski Financial Inc. now owns 18,561 shares of the insurance provider’s stock worth $2,598,000 after purchasing an additional 400 shares during the period. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of Allstate in the 4th quarter worth approximately $269,000. Finally, Signaturefd LLC raised its holdings in shares of Allstate by 17.9% in the 4th quarter. Signaturefd LLC now owns 4,184 shares of the insurance provider’s stock worth $586,000 after purchasing an additional 636 shares during the period. Institutional investors own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ALL. JPMorgan Chase & Co. lifted their price objective on shares of Allstate from $172.00 to $185.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Evercore ISI lifted their price objective on shares of Allstate from $166.00 to $173.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Jefferies Financial Group upgraded shares of Allstate from a “hold” rating to a “buy” rating and boosted their price target for the company from $130.00 to $180.00 in a research report on Tuesday, January 9th. HSBC upgraded shares of Allstate from a “hold” rating to a “buy” rating and boosted their price target for the company from $158.00 to $190.00 in a research report on Thursday, March 28th. Finally, Wells Fargo & Company boosted their price target on shares of Allstate from $145.00 to $146.00 and gave the company an “underweight” rating in a research report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $173.71.

Allstate Stock Down 0.1 %

Shares of NYSE:ALL opened at $175.27 on Wednesday. The Allstate Co. has a 52-week low of $100.57 and a 52-week high of $176.93. The firm has a fifty day moving average of $164.50 and a 200 day moving average of $148.42. The firm has a market capitalization of $46.11 billion, a PE ratio of -141.35, a price-to-earnings-growth ratio of 0.42 and a beta of 0.52. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.37 and a current ratio of 0.37.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share for the quarter, topping the consensus estimate of $3.87 by $1.95. The business had revenue of $14.83 billion during the quarter, compared to the consensus estimate of $12.69 billion. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.36) earnings per share. As a group, research analysts anticipate that The Allstate Co. will post 13.44 EPS for the current fiscal year.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a $0.92 dividend. The ex-dividend date was Friday, March 1st. This is an increase from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 annualized dividend and a yield of 2.10%. Allstate’s payout ratio is currently -296.77%.

Insiders Place Their Bets

In other Allstate news, insider John E. Dugenske sold 31,000 shares of the business’s stock in a transaction on 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 directly owns 63,731 shares of the company’s stock, valued at $10,847,016.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO John C. Pintozzi sold 4,000 shares of the company’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John E. Dugenske sold 31,000 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the transaction, the insider now directly owns 63,731 shares of the company’s stock, valued at $10,847,016.20. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.

Allstate Company 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.