Lummis Asset Management LP Takes $64,000 Position in The Allstate Co. (NYSE:ALL)

Lummis Asset Management LP bought a new stake in shares of The Allstate Co. (NYSE:ALL) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 370 shares of the insurance provider’s stock, valued at approximately $64,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ALL. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Allstate during the 1st quarter valued at approximately $25,000. Rise Advisors LLC acquired a new stake in shares of Allstate during the 1st quarter valued at approximately $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Allstate during the 1st quarter valued at approximately $26,000. Private Wealth Management Group LLC acquired a new stake in shares of Allstate during the 4th quarter valued at approximately $25,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Allstate during the 4th quarter valued at approximately $36,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Price Performance

ALL stock traded up $6.36 during trading hours on Thursday, hitting $177.48. 2,443,499 shares of the stock traded hands, compared to its average volume of 1,571,846. The stock has a 50-day simple moving average of $164.44 and a 200 day simple moving average of $163.99. The Allstate Co. has a one year low of $104.29 and a one year high of $180.87. The company has a market cap of $46.84 billion, a P/E ratio of 39.18, a P/E/G ratio of 1.82 and a beta of 0.48. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share for the quarter, beating the consensus estimate of $0.33 by $1.28. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The business had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $14.04 billion. During the same quarter last year, the business posted ($4.42) earnings per share. The company’s quarterly revenue was up 12.4% on a year-over-year basis. Equities analysts forecast that The Allstate Co. will post 13.64 earnings per share for the current year.

Allstate Dividend Announcement

The business 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 $0.92 dividend. The ex-dividend date is Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.07%. Allstate’s dividend payout ratio (DPR) is 81.24%.

Insider Activity at Allstate

In related news, insider Suren Gupta sold 45,775 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total value of $8,114,992.00. Following the completion of the transaction, the insider now owns 89,930 shares in the company, valued at approximately $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 Ratings Changes

ALL has been the topic of several research reports. Wells Fargo & Company upped their price target on Allstate from $146.00 to $153.00 and gave the company an “underweight” rating in a research report on Friday, May 10th. JPMorgan Chase & Co. increased their target price on Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. The Goldman Sachs Group increased their target price on Allstate from $197.00 to $199.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Roth Mkm increased their target price on Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, Bank of America increased their target price on Allstate from $213.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $183.24.

Allstate Company Profile

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.