Manhattan West Asset Management LLC purchased a new stake in shares of The Allstate Co. (NYSE:ALL – Free Report) during the first quarter, Holdings Channel.com reports. The fund purchased 1,987 shares of the insurance provider’s stock, valued at approximately $344,000.
Other institutional investors have also recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Allstate during the 1st quarter valued at $25,000. Private Wealth Management Group LLC purchased a new stake in Allstate during the 4th quarter worth about $25,000. Rise Advisors LLC purchased a new stake in Allstate during the 1st quarter worth about $26,000. Northwest Investment Counselors LLC purchased a new stake in Allstate during the 1st quarter worth about $26,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in Allstate during the 4th quarter worth about $36,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.
Allstate Trading Up 2.3 %
Shares of ALL traded up $3.77 during mid-day trading on Friday, hitting $169.17. 1,913,727 shares of the company’s stock traded hands, compared to its average volume of 1,331,798. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.48. The Allstate Co. has a 1 year low of $104.29 and a 1 year high of $179.93. The firm has a market capitalization of $44.65 billion, a P/E ratio of 37.34, a PEG ratio of 1.77 and a beta of 0.48. The business’s 50-day moving average price is $163.94 and its 200-day moving average price is $163.55.
Allstate Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $3.68 annualized dividend and a dividend yield of 2.18%. Allstate’s dividend payout ratio is presently 81.24%.
Insider Activity at Allstate
In related news, insider Suren Gupta sold 45,775 shares of Allstate stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the sale, the insider now directly owns 89,930 shares in the company, valued at $15,942,790.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on ALL. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $194.00 price objective on shares of Allstate in a report on Friday, July 5th. Roth Mkm increased their price objective on Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Wells Fargo & Company increased their price objective on Allstate from $146.00 to $153.00 and gave the stock an “underweight” rating in a report on Friday, May 10th. JPMorgan Chase & Co. lifted their price target on Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Finally, Evercore ISI lifted their price target on Allstate from $166.00 to $173.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $178.06.
Check Out Our Latest Stock Analysis on ALL
About Allstate
The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.
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