Atalanta Sosnoff Capital LLC boosted its stake in shares of Allstate Corp (NYSE:ALL) by 86.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 611,347 shares of the insurance provider’s stock after acquiring an additional 283,615 shares during the quarter. Allstate accounts for 2.1% of Atalanta Sosnoff Capital LLC’s portfolio, making the stock its 20th largest position. Atalanta Sosnoff Capital LLC owned about 0.17% of Allstate worth $64,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in the business. Sandy Spring Bank grew its holdings in shares of Allstate by 2.5% during the second quarter. Sandy Spring Bank now owns 1,165 shares of the insurance provider’s stock worth $103,000 after purchasing an additional 28 shares during the last quarter. South State Corp grew its holdings in shares of Allstate by 3.2% during the second quarter. South State Corp now owns 5,620 shares of the insurance provider’s stock worth $497,000 after purchasing an additional 176 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Allstate by 3.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,597 shares of the insurance provider’s stock valued at $672,000 after acquiring an additional 253 shares during the last quarter. Afam Capital Inc. boosted its holdings in Allstate by 1.1% in the second quarter. Afam Capital Inc. now owns 25,484 shares of the insurance provider’s stock valued at $2,254,000 after acquiring an additional 271 shares during the last quarter. Finally, Advisory Services Network LLC boosted its holdings in Allstate by 10.8% in the second quarter. Advisory Services Network LLC now owns 2,798 shares of the insurance provider’s stock valued at $247,000 after acquiring an additional 273 shares during the last quarter. Hedge funds and other institutional investors own 76.64% of the company’s stock.
Several research firms recently issued reports on ALL. Wells Fargo & Co cut Allstate from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 9th. Zacks Investment Research upgraded Allstate from a “hold” rating to a “buy” rating and set a $114.00 price target on the stock in a report on Wednesday, January 3rd. Keefe, Bruyette & Woods cut Allstate from a “market perform” rating to an “underperform” rating in a report on Tuesday, January 2nd. Goldman Sachs Group started coverage on Allstate in a report on Monday, December 4th. They set a “neutral” rating and a $104.00 target price on the stock. Finally, B. Riley restated a “neutral” rating on shares of Allstate in a report on Monday, November 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $96.43.
In other news, insider Suren Gupta sold 103,242 shares of Allstate stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $98.68, for a total transaction of $10,187,920.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Susan L. Lees sold 4,000 shares of Allstate stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $100.49, for a total value of $401,960.00. Following the transaction, the executive vice president now owns 24,341 shares of the company’s stock, valued at $2,446,027.09. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 432,242 shares of company stock valued at $42,827,931. Corporate insiders own 1.58% of the company’s stock.
Shares of Allstate Corp (NYSE ALL) opened at $98.77 on Thursday. Allstate Corp has a 1 year low of $74.74 and a 1 year high of $105.36. The stock has a market capitalization of $35,326.42, a P/E ratio of 13.72, a P/E/G ratio of 1.45 and a beta of 1.12. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.26 and a quick ratio of 0.26.
Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, November 1st. The insurance provider reported $1.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.61 by ($0.01). The company had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.07 billion. Allstate had a net margin of 7.32% and a return on equity of 13.11%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.26 earnings per share. equities analysts expect that Allstate Corp will post 6.18 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Thursday, November 30th were paid a $0.37 dividend. The ex-dividend date was Wednesday, November 29th. This represents a $1.48 dividend on an annualized basis and a yield of 1.50%. Allstate’s dividend payout ratio is 20.56%.
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Allstate Company Profile
The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.
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