Tocqueville Asset Management L.P. Invests $29.40 Million in The Allstate Corporation $ALL

Tocqueville Asset Management L.P. purchased a new stake in shares of The Allstate Corporation (NYSE:ALL) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 123,570 shares of the insurance provider’s stock, valued at approximately $29,402,000.

Several other large investors have also made changes to their positions in the company. Coldstream Capital Management Inc. raised its position in Allstate by 0.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider’s stock valued at $1,625,000 after acquiring an additional 50 shares in the last quarter. Compound Planning Inc. lifted its stake in Allstate by 1.6% in the fourth quarter. Compound Planning Inc. now owns 3,216 shares of the insurance provider’s stock valued at $669,000 after acquiring an additional 50 shares during the last quarter. Cullen Frost Bankers Inc. grew its position in Allstate by 0.9% in the fourth quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider’s stock worth $1,210,000 after acquiring an additional 52 shares in the last quarter. Root Financial Partners LLC grew its position in Allstate by 4.7% in the first quarter. Root Financial Partners LLC now owns 1,170 shares of the insurance provider’s stock worth $243,000 after acquiring an additional 53 shares in the last quarter. Finally, Montag A & Associates Inc. increased its stake in shares of Allstate by 10.2% during the 4th quarter. Montag A & Associates Inc. now owns 596 shares of the insurance provider’s stock worth $125,000 after purchasing an additional 55 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

Insider Transactions at Allstate

In other Allstate news, insider John E. Dugenske sold 32,996 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $269.33, for a total value of $8,886,812.68. Following the completion of the sale, the insider owned 13,054 shares in the company, valued at approximately $3,515,833.82. This trade represents a 71.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Mario Rizzo sold 56,225 shares of Allstate stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total value of $14,870,388.00. Following the sale, the chief operating officer directly owned 82,227 shares in the company, valued at $21,747,396.96. The trade was a 40.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 92,996 shares of company stock valued at $24,543,894. 1.55% of the stock is currently owned by insiders.

Allstate Price Performance

NYSE:ALL opened at $260.24 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36. The Allstate Corporation has a one year low of $188.08 and a one year high of $277.22. The company has a fifty day moving average price of $249.00 and a 200 day moving average price of $224.35. The stock has a market cap of $65.80 billion, a P/E ratio of 5.20, a PEG ratio of 0.40 and a beta of 0.16.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.06 by $2.93. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The company had revenue of $15.43 billion for the quarter, compared to analyst estimates of $15.46 billion. During the same period last year, the business posted $5.94 EPS. The business’s quarterly revenue was up 11.8% on a year-over-year basis. Analysts anticipate that The Allstate Corporation will post 34.5 earnings per share for the current year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 dividend on an annualized basis and a yield of 1.7%. Allstate’s dividend payout ratio (DPR) is 8.63%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ALL shares. JPMorgan Chase & Co. raised their price target on shares of Allstate from $282.00 to $292.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Morgan Stanley set a $265.00 target price on shares of Allstate in a research report on Tuesday, August 11th. Evercore set a $240.00 target price on Allstate in a report on Friday, July 10th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $280.00 price target on shares of Allstate in a research report on Friday, August 7th. Finally, Keefe, Bruyette & Woods upped their price target on Allstate from $242.00 to $255.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 8th. Four research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Allstate has a consensus rating of “Hold” and an average price target of $265.53.

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.