Guggenheim Capital LLC trimmed its position in shares of Allstate Corp (NYSE:ALL) by 27.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 508,402 shares of the insurance provider’s stock after selling 191,448 shares during the period. Guggenheim Capital LLC owned approximately 0.14% of Allstate worth $53,234,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Allstate by 5.8% during the 4th quarter. BlackRock Inc. now owns 26,950,291 shares of the insurance provider’s stock worth $2,821,964,000 after buying an additional 1,466,802 shares during the last quarter. Boston Partners increased its holdings in shares of Allstate by 2.5% during the 4th quarter. Boston Partners now owns 8,921,194 shares of the insurance provider’s stock worth $934,138,000 after buying an additional 215,195 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Allstate by 2.0% during the 4th quarter. Wells Fargo & Company MN now owns 5,281,498 shares of the insurance provider’s stock worth $553,026,000 after buying an additional 102,609 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Allstate by 2.2% during the 4th quarter. Bank of New York Mellon Corp now owns 4,292,425 shares of the insurance provider’s stock worth $449,459,000 after buying an additional 90,867 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Allstate by 22.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,210,943 shares of the insurance provider’s stock worth $387,030,000 after buying an additional 769,761 shares during the last quarter. Institutional investors and hedge funds own 75.88% of the company’s stock.
Shares of Allstate Corp (ALL) opened at $96.81 on Friday. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.31. Allstate Corp has a 12-month low of $79.09 and a 12-month high of $105.36. The firm has a market cap of $34,173.31, a price-to-earnings ratio of 14.37, a P/E/G ratio of 1.39 and a beta of 1.00.
Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, February 7th. The insurance provider reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 8.28% and a return on equity of 12.57%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.17 EPS. analysts anticipate that Allstate Corp will post 8.32 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 5th will be given a $0.46 dividend. This is a boost from Allstate’s previous quarterly dividend of $0.37. This represents a $1.84 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Friday, March 2nd. Allstate’s dividend payout ratio is presently 21.98%.
A number of analysts have recently commented on the company. Argus restated a “buy” rating and set a $110.00 price objective on shares of Allstate in a report on Wednesday, February 21st. Wells Fargo & Co downgraded Allstate from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 9th. Morgan Stanley restated an “equal weight” rating and set a $105.00 price objective (down from $113.00) on shares of Allstate in a report on Wednesday, February 21st. Deutsche Bank dropped their price objective on Allstate from $102.00 to $100.00 and set a “hold” rating for the company in a report on Friday, February 9th. Finally, ValuEngine upgraded Allstate from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $99.00.
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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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