PGGM Investments reduced its holdings in shares of Allstate Corp (NYSE:ALL) by 37.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 583,402 shares of the insurance provider’s stock after selling 345,615 shares during the period. PGGM Investments owned 0.18% of Allstate worth $65,604,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Candriam Luxembourg S.C.A. raised its holdings in Allstate by 19.1% in the third quarter. Candriam Luxembourg S.C.A. now owns 231,261 shares of the insurance provider’s stock worth $27,000 after buying an additional 37,143 shares during the last quarter. McIlrath & Eck LLC purchased a new position in Allstate in the third quarter worth about $27,000. Mechanics Bank Trust Department purchased a new position in Allstate in the third quarter worth about $32,000. MV Capital Management Inc. raised its holdings in Allstate by 5,740.0% in the third quarter. MV Capital Management Inc. now owns 292 shares of the insurance provider’s stock worth $32,000 after buying an additional 287 shares during the last quarter. Finally, 1 North Wealth Services LLC purchased a new position in Allstate in the third quarter worth about $33,000. 76.94% of the stock is owned by institutional investors.
Shares of ALL traded up $1.00 during mid-day trading on Friday, hitting $117.15. 394,461 shares of the company traded hands, compared to its average volume of 1,525,240. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a 50-day moving average price of $111.70 and a two-hundred day moving average price of $107.26. Allstate Corp has a 1 year low of $84.21 and a 1 year high of $116.16. The stock has a market cap of $36.87 billion, a price-to-earnings ratio of 14.52, a P/E/G ratio of 1.34 and a beta of 0.81.
Allstate (NYSE:ALL) last announced its earnings results on Tuesday, October 29th. The insurance provider reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.32. The company had revenue of $10.87 billion during the quarter, compared to analyst estimates of $9.07 billion. Allstate had a net margin of 6.57% and a return on equity of 13.83%. During the same period in the previous year, the business posted $1.93 earnings per share. On average, analysts forecast that Allstate Corp will post 10.21 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, November 29th were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, November 27th. This represents a $2.00 annualized dividend and a yield of 1.71%. Allstate’s dividend payout ratio (DPR) is 24.78%.
Several brokerages have issued reports on ALL. Evercore ISI reaffirmed a “hold” rating and issued a $117.00 target price on shares of Allstate in a report on Sunday, December 22nd. UBS Group boosted their price objective on shares of Allstate from $110.00 to $112.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, ValuEngine cut shares of Allstate from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $109.10.
In other Allstate news, insider Croker Trevor bought 44,975 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was bought at an average cost of $34.22 per share, for a total transaction of $1,539,044.50. Insiders own 1.60% of the company’s stock.
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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