Hsbc Holdings PLC Purchases 85,808 Shares of The Allstate Corporation $ALL

Hsbc Holdings PLC raised its position in shares of The Allstate Corporation (NYSE:ALL) by 8.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,141,943 shares of the insurance provider’s stock after purchasing an additional 85,808 shares during the period. Hsbc Holdings PLC’s holdings in Allstate were worth $238,232,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Allstate by 3.7% during the 4th quarter. State Street Corp now owns 12,297,551 shares of the insurance provider’s stock valued at $2,571,600,000 after purchasing an additional 438,034 shares during the last quarter. GQG Partners LLC raised its holdings in shares of Allstate by 36.0% during the 4th quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock valued at $1,142,449,000 after buying an additional 1,452,993 shares in the last quarter. Franklin Resources Inc. lifted its position in Allstate by 29.2% in the 4th quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock worth $1,042,321,000 after buying an additional 1,131,172 shares during the last quarter. Boston Partners lifted its position in Allstate by 14.9% in the 3rd quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock worth $654,652,000 after buying an additional 395,195 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its stake in Allstate by 3.3% in 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. Institutional investors own 76.47% of the company’s stock.

Allstate Trading Down 0.2%

Shares of ALL stock opened at $220.72 on Friday. The stock has a market capitalization of $56.82 billion, a PE ratio of 4.87, a P/E/G ratio of 0.40 and a beta of 0.18. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $227.62. The business has a 50-day moving average of $215.95 and a 200 day moving average of $209.23. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36.

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

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $1.08 dividend. The ex-dividend date is Monday, June 1st. This represents a $4.32 annualized dividend and a dividend yield of 2.0%. Allstate’s dividend payout ratio (DPR) is currently 9.53%.

Wall Street Analysts Forecast Growth

ALL has been the topic of a number of recent research reports. Keefe, Bruyette & Woods cut shares of Allstate from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $266.00 to $242.00 in a research report on Monday, June 8th. Wells Fargo & Company boosted their price objective on shares of Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Mizuho cut their price objective on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, March 20th. Citigroup increased their target price on shares of Allstate from $221.00 to $226.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Finally, Wall Street Zen cut shares of Allstate from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Three investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and one has issued 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 price target of $240.33.

Insider Buying and Selling

In related 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 value 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Mario Rizzo sold 18,578 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the sale, the chief operating officer owned 82,227 shares of the company’s stock, valued at $17,991,267.60. This represents a 18.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 22,353 shares of company stock valued at $4,851,560 over the last three months. 1.55% of the stock is owned by company 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.