BTC Capital Management Inc. grew its position in Allstate Corp (NYSE:ALL) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,915 shares of the insurance provider’s stock after purchasing an additional 1,149 shares during the period. BTC Capital Management Inc.’s holdings in Allstate were worth $4,808,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Arrow Financial Corp lifted its holdings in shares of Allstate by 100.0% in the third quarter. Arrow Financial Corp now owns 1,106 shares of the insurance provider’s stock valued at $102,000 after purchasing an additional 553 shares in the last quarter. IHT Wealth Management LLC lifted its holdings in shares of Allstate by 46.6% in the second quarter. IHT Wealth Management LLC now owns 1,275 shares of the insurance provider’s stock valued at $113,000 after purchasing an additional 405 shares in the last quarter. Financial Engines Advisors L.L.C. bought a new stake in shares of Allstate in the third quarter valued at about $116,000. Baker Ellis Asset Management LLC bought a new stake in shares of Allstate in the third quarter valued at about $120,000. Finally, Synovus Financial Corp bought a new stake in shares of Allstate in the third quarter valued at about $137,000. Institutional investors own 76.49% of the company’s stock.
Shares of Allstate Corp (ALL) opened at $90.73 on Tuesday. Allstate Corp has a 12 month low of $78.13 and a 12 month high of $105.36. The stock has a market capitalization of $32,265.95, a P/E ratio of 10.84, a P/E/G ratio of 1.33 and a beta of 0.97. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.25 and a quick ratio of 0.26.
Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $2.09 EPS for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.56. The company had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.09 billion. Allstate had a return on equity of 12.57% and a net margin of 8.28%. Allstate’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.17 EPS. research analysts predict that Allstate Corp will post 8.21 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Monday, March 5th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.03%. This is an increase from Allstate’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, March 2nd. Allstate’s dividend payout ratio is presently 17.68%.
In related news, EVP Susan L. Lees sold 4,000 shares of the stock in a transaction 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 completion of the sale, the executive vice president now directly owns 24,341 shares in the company, valued at $2,446,027.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.50% of the company’s stock.
ALL has been the topic of a number of research reports. Keefe, Bruyette & Woods lowered Allstate from a “market perform” rating to an “underperform” rating in a report on Tuesday, January 2nd. Zacks Investment Research upgraded Allstate from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. Wells Fargo & Co lowered Allstate from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 9th. Goldman Sachs Group began 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, Credit Suisse Group upped their target price on Allstate from $91.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. Allstate presently has a consensus rating of “Hold” and a consensus price target of $97.00.
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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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