Wakefield Asset Management LLLP Takes $1.62 Million Position in The Allstate Corporation $ALL

Wakefield Asset Management LLLP acquired a new position in The Allstate Corporation (NYSE:ALL) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 7,554 shares of the insurance provider’s stock, valued at approximately $1,622,000.

Several other large investors have also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. raised its holdings in Allstate by 79.7% during the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 55 shares in the last quarter. Barnes Dennig Private Wealth Management LLC raised its stake in shares of Allstate by 112.3% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock worth $30,000 after buying an additional 73 shares in the last quarter. Clearstead Trust LLC lifted its holdings in shares of Allstate by 3,800.0% in the second quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock valued at $31,000 after buying an additional 152 shares during the period. Armstrong Advisory Group Inc. boosted its stake in Allstate by 72.0% during the third quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider’s stock valued at $34,000 after buying an additional 67 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in Allstate during the third quarter worth about $37,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insiders Place Their Bets

In other Allstate news, insider Suren Gupta sold 19,593 shares of Allstate stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total value of $4,114,530.00. Following the completion of the sale, the insider directly owned 100,646 shares in the company, valued at $21,135,660. The trade was a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ALL. Evercore set a $225.00 price objective on shares of Allstate in a research report on Wednesday, January 7th. JPMorgan Chase & Co. increased their price objective on Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Cantor Fitzgerald restated a “neutral” rating and issued a $220.00 target price on shares of Allstate in a report on Thursday, February 5th. TD Cowen lowered Allstate from a “buy” rating to a “hold” rating in a research report on Monday, January 12th. Finally, Keefe, Bruyette & Woods increased their price target on Allstate from $254.00 to $260.00 and gave the company an “outperform” rating in a research report on Tuesday, February 10th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and an average price target of $238.88.

Allstate Stock Down 0.1%

Shares of Allstate stock opened at $207.44 on Wednesday. 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 1 year low of $176.00 and a 1 year high of $216.75. The stock has a 50-day moving average price of $204.60 and a 200 day moving average price of $204.66. The company has a market cap of $53.84 billion, a P/E ratio of 5.43, a P/E/G ratio of 0.43 and a beta of 0.23.

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

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be paid a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 2.1%. 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. Allstate’s dividend payout ratio (DPR) is presently 11.31%.

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.