Panagora Asset Management Inc. Purchases 185,216 Shares of The Allstate Corporation $ALL

Panagora Asset Management Inc. increased its position in The Allstate Corporation (NYSE:ALL) by 76.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 426,595 shares of the insurance provider’s stock after buying an additional 185,216 shares during the quarter. Panagora Asset Management Inc. owned 0.16% of Allstate worth $85,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the business. Greenwich Wealth Management LLC grew its holdings in Allstate by 11.1% during the 2nd quarter. Greenwich Wealth Management LLC now owns 2,172 shares of the insurance provider’s stock worth $437,000 after acquiring an additional 217 shares during the last quarter. Berry Wealth Group LP raised its stake in shares of Allstate by 4.7% during the second quarter. Berry Wealth Group LP now owns 1,661 shares of the insurance provider’s stock valued at $334,000 after acquiring an additional 74 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Allstate by 1.5% during the second quarter. New York State Common Retirement Fund now owns 170,570 shares of the insurance provider’s stock worth $34,337,000 after purchasing an additional 2,500 shares during the period. West Family Investments Inc. grew its stake in shares of Allstate by 38.7% in the second quarter. West Family Investments Inc. now owns 1,580 shares of the insurance provider’s stock worth $318,000 after purchasing an additional 441 shares during the last quarter. Finally, Schroder Investment Management Group increased its holdings in Allstate by 23.9% in the second quarter. Schroder Investment Management Group now owns 74,053 shares of the insurance provider’s stock valued at $14,908,000 after purchasing an additional 14,285 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Price Performance

Shares of NYSE:ALL opened at $213.39 on Monday. The Allstate Corporation has a twelve month low of $176.00 and a twelve month high of $215.89. The stock’s 50 day moving average is $204.68 and its 200-day moving average is $202.45. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $55.84 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 0.69 and a beta of 0.35.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $11.17 EPS for the quarter, beating analysts’ consensus estimates of $5.48 by $5.69. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The business had revenue of $17.26 billion during the quarter, compared to analyst estimates of $16.59 billion. During the same quarter in the previous year, the business posted $3.91 EPS. Allstate’s quarterly revenue was up 3.8% on a year-over-year basis. Sell-side analysts forecast that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $4.00 annualized dividend and a dividend yield of 1.9%. Allstate’s payout ratio is presently 12.95%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ALL shares. JPMorgan Chase & Co. raised their target price on Allstate from $254.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Roth Capital raised their price objective on Allstate from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday. Evercore ISI set a $233.00 price objective on Allstate and gave the stock an “in-line” rating in a research note on Wednesday, October 1st. Raymond James Financial reiterated a “strong-buy” rating and issued a $260.00 target price (up from $250.00) on shares of Allstate in a report on Monday, August 4th. Finally, Wolfe Research upgraded shares of Allstate to a “strong-buy” rating in a report on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $237.92.

Insider Buying and Selling at Allstate

In related news, insider Suren Gupta sold 600 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $215.02, for a total value of $129,012.00. Following the transaction, the insider owned 100,646 shares of the company’s stock, valued at approximately $21,640,902.92. This trade represents a 0.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 24,271 shares of company stock valued at $5,222,986. Corporate insiders own 1.70% of the company’s stock.

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.