Natixis Advisors LLC Cuts Stake in The Allstate Corporation $ALL

Natixis Advisors LLC lessened its holdings in The Allstate Corporation (NYSE:ALL) by 13.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 264,389 shares of the insurance provider’s stock after selling 42,380 shares during the quarter. Natixis Advisors LLC’s holdings in Allstate were worth $56,751,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ALL. Vanguard Group Inc. raised its stake in shares of Allstate by 1.3% in the second quarter. Vanguard Group Inc. now owns 33,235,231 shares of the insurance provider’s stock valued at $6,690,584,000 after acquiring an additional 435,145 shares in the last quarter. Geode Capital Management LLC raised its position in Allstate by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 6,714,629 shares of the insurance provider’s stock valued at $1,345,961,000 after purchasing an additional 79,366 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Allstate by 2.5% in the 2nd quarter. Franklin Resources Inc. now owns 4,670,113 shares of the insurance provider’s stock valued at $940,140,000 after buying an additional 112,858 shares during the period. Raymond James Financial Inc. grew its position in shares of Allstate by 3.3% during the second quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider’s stock worth $562,388,000 after buying an additional 88,620 shares in the last quarter. Finally, Boston Partners increased its stake in shares of Allstate by 7.0% during the second quarter. Boston Partners now owns 2,655,585 shares of the insurance provider’s stock worth $535,078,000 after buying an additional 172,931 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

ALL has been the subject of a number of recent research reports. Citigroup lifted their price target on shares of Allstate from $216.00 to $221.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 10th. Cantor Fitzgerald restated a “neutral” rating and issued a $220.00 price objective on shares of Allstate in a report on Thursday, February 5th. Morgan Stanley reiterated an “equal weight” rating and set a $215.00 target price (down from $245.00) on shares of Allstate in a research note on Tuesday, December 16th. Raymond James Financial reissued a “strong-buy” rating and issued a $260.00 target price on shares of Allstate in a report on Tuesday, March 3rd. Finally, William Blair cut Allstate from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 18th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $238.88.

Allstate Stock Down 2.3%

ALL stock opened at $207.53 on Tuesday. The stock has a market cap of $53.86 billion, a P/E ratio of 5.43, a PEG ratio of 0.44 and a beta of 0.23. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26. The Allstate Corporation has a twelve month low of $176.00 and a twelve month high of $216.75. The company’s 50 day moving average is $204.63 and its two-hundred day moving average is $204.64.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, February 4th. The insurance provider reported $14.31 EPS for the quarter, beating analysts’ consensus estimates of $8.72 by $5.59. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The firm had revenue of $17.35 billion for the quarter, compared to the consensus estimate of $17.23 billion. During the same period last year, the firm posted $7.67 EPS. The company’s revenue was up 5.1% on a year-over-year basis. Research analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be issued a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, March 2nd. This is a positive change from Allstate’s previous quarterly dividend of $1.00. This represents a $4.32 annualized dividend and a dividend yield of 2.1%. Allstate’s dividend payout ratio is 11.31%.

Insider Activity

In other news, insider Suren Gupta sold 19,593 shares of Allstate stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the sale, the insider owned 100,646 shares in the company, valued at approximately $21,135,660. The trade was a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.70% of the company’s stock.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.