Meyer Handelman Co. Has $42.36 Million Stock Position in The Allstate Corporation $ALL

Meyer Handelman Co. boosted its position in The Allstate Corporation (NYSE:ALL) by 3.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 197,349 shares of the insurance provider’s stock after buying an additional 6,547 shares during the quarter. Allstate makes up about 1.3% of Meyer Handelman Co.’s holdings, making the stock its 22nd biggest position. Meyer Handelman Co.’s holdings in Allstate were worth $42,361,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Guerra Pan Advisors LLC boosted its holdings in Allstate by 1.5% during the second quarter. Guerra Pan Advisors LLC now owns 3,426 shares of the insurance provider’s stock valued at $690,000 after acquiring an additional 49 shares during the period. Focus Financial Network Inc. lifted its position in shares of Allstate by 1.1% during the 3rd quarter. Focus Financial Network Inc. now owns 4,693 shares of the insurance provider’s stock worth $1,012,000 after purchasing an additional 52 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Allstate by 4.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,189 shares of the insurance provider’s stock worth $239,000 after purchasing an additional 53 shares during the last quarter. L2 Asset Management LLC boosted its stake in Allstate by 4.8% during the 2nd quarter. L2 Asset Management LLC now owns 1,168 shares of the insurance provider’s stock valued at $235,000 after purchasing an additional 53 shares during the period. Finally, Ancora Advisors LLC grew its holdings in Allstate by 0.7% in the 1st quarter. Ancora Advisors LLC now owns 8,402 shares of the insurance provider’s stock valued at $1,740,000 after buying an additional 55 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

Allstate Stock Down 0.6%

ALL opened at $207.82 on Friday. The company has a market capitalization of $54.38 billion, a P/E ratio of 6.73, a P/E/G ratio of 0.38 and a beta of 0.25. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.43 and a quick ratio of 0.43. The firm’s fifty day moving average price is $204.25 and its two-hundred day moving average price is $202.52. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $215.89.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $11.17 EPS for the quarter, topping analysts’ consensus estimates of $5.48 by $5.69. Allstate had a net margin of 12.53% and a return on equity of 35.42%. The company had revenue of $17.26 billion during the quarter, compared to the consensus estimate of $16.59 billion. During the same period last year, the firm earned $3.91 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be paid a dividend of $1.00 per share. The ex-dividend date is Monday, December 1st. This represents a $4.00 dividend on an annualized basis and a yield of 1.9%. Allstate’s dividend payout ratio (DPR) is currently 12.95%.

Analyst Ratings Changes

A number of brokerages have recently commented on ALL. Evercore ISI set a $233.00 price target on Allstate and gave the stock an “in-line” rating in a report on Wednesday, October 1st. BMO Capital Markets boosted their target price on shares of Allstate from $235.00 to $244.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Roth Capital increased their price target on shares of Allstate from $230.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. Wolfe Research upgraded shares of Allstate to a “strong-buy” rating in a report on Tuesday, September 16th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allstate in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Allstate presently has an average rating of “Moderate Buy” and a consensus target price of $236.93.

Insiders Place Their Bets

In other news, insider Suren Gupta sold 3,786 shares of the company’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $215.13, for a total value of $814,482.18. Following the sale, the insider directly owned 100,646 shares in the company, valued at approximately $21,651,973.98. This represents a 3.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold 28,807 shares of company stock worth $6,198,726 over the last 90 days. 1.70% of the stock is currently owned by insiders.

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.