Manhattan West Asset Management LLC Acquires Shares of 1,987 The Allstate Co. (NYSE:ALL)

Manhattan West Asset Management LLC purchased a new stake in shares of The Allstate Co. (NYSE:ALL) 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 (NYSE:ALL) last posted its earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.11 by $1.02. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The firm had revenue of $15.26 billion for the quarter, compared to analysts’ expectations of $12.76 billion. During the same period in the previous year, the firm earned ($1.30) earnings per share. The business’s revenue was up 10.7% compared to the same quarter last year. As a group, sell-side analysts forecast that The Allstate Co. will post 13.64 EPS for the current fiscal year.

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.

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.