Panagora Asset Management Inc. Has $176.56 Million Position in The Allstate Corporation $ALL

Panagora Asset Management Inc. boosted its holdings in The Allstate Corporation (NYSE:ALL) by 16.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 848,222 shares of the insurance provider’s stock after purchasing an additional 117,065 shares during the quarter. Allstate comprises 0.6% of Panagora Asset Management Inc.’s holdings, making the stock its 28th largest holding. Panagora Asset Management Inc. owned 0.32% of Allstate worth $176,557,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Allstate in the 4th quarter valued at $531,294,000. GQG Partners LLC boosted its stake in Allstate by 36.0% during the fourth quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock worth $1,142,449,000 after acquiring an additional 1,452,993 shares in the last quarter. Franklin Resources Inc. grew its holdings in Allstate by 29.2% in the fourth quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock worth $1,042,321,000 after purchasing an additional 1,131,172 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in Allstate by 1,766.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 869,139 shares of the insurance provider’s stock valued at $180,911,000 after purchasing an additional 822,583 shares in the last quarter. Finally, Woodline Partners LP bought a new stake in Allstate in the third quarter valued at $148,641,000. 76.47% of the stock is currently owned by institutional investors.

Insider Activity at Allstate

In other Allstate news, Director Andrea Redmond sold 2,225 shares of Allstate stock in a transaction on Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the transaction, the director directly owned 2,225 shares of the company’s stock, valued at $451,474.75. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Mario Rizzo sold 18,578 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the sale, the chief operating officer owned 82,227 shares of the company’s stock, valued at approximately $17,991,267.60. The trade was a 18.43% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 22,353 shares of company stock valued at $4,851,560. 1.55% of the stock is owned by insiders.

Allstate Trading Down 0.0%

ALL opened at $221.58 on Monday. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $227.62. The firm has a market capitalization of $57.04 billion, a PE ratio of 4.89, a P/E/G ratio of 0.40 and a beta of 0.19. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36. The company’s 50-day moving average is $214.68 and its 200 day moving average is $208.92.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. The firm had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.53 EPS. As a group, research analysts predict that The Allstate Corporation will post 29.43 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a dividend of $1.08 per share. The ex-dividend date is Monday, June 1st. This represents a $4.32 annualized dividend and a yield of 1.9%. Allstate’s dividend payout ratio is 9.53%.

Analysts Set New Price Targets

ALL has been the topic of a number of research analyst reports. Zacks Research cut shares of Allstate from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Mizuho dropped their price target on Allstate from $281.00 to $265.00 and set an “outperform” rating on the stock in a research note on Friday, March 20th. Raymond James Financial reiterated a “strong-buy” rating and issued a $260.00 price target on shares of Allstate in a report on Tuesday, March 3rd. Wall Street Zen cut Allstate from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Citigroup boosted their price objective on Allstate from $221.00 to $226.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $240.33.

Allstate Company Profile

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.