Carret Asset Management LLC Sells 286 Shares of The Allstate Co. (NYSE:ALL)

Carret Asset Management LLC cut its stake in shares of The Allstate Co. (NYSE:ALL) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 45,529 shares of the insurance provider’s stock after selling 286 shares during the quarter. Carret Asset Management LLC’s holdings in Allstate were worth $6,373,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALL. Vanguard Group Inc. lifted its holdings in shares of Allstate by 11.5% during the third quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock valued at $3,595,266,000 after acquiring an additional 3,322,673 shares during the period. Invesco Ltd. lifted its holdings in shares of Allstate by 46.6% during the third quarter. Invesco Ltd. now owns 4,121,941 shares of the insurance provider’s stock valued at $459,225,000 after acquiring an additional 1,311,095 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in shares of Allstate by 23.0% during the third quarter. Diamond Hill Capital Management Inc. now owns 4,184,211 shares of the insurance provider’s stock valued at $466,163,000 after acquiring an additional 782,696 shares during the period. Nordea Investment Management AB raised its holdings in shares of Allstate by 49.5% in the third quarter. Nordea Investment Management AB now owns 1,640,174 shares of the insurance provider’s stock valued at $183,388,000 after buying an additional 542,842 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of Allstate by 16.9% in the third quarter. Morgan Stanley now owns 3,701,607 shares of the insurance provider’s stock valued at $412,396,000 after buying an additional 536,137 shares during the last quarter. 76.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on ALL. Jefferies Financial Group raised Allstate from a “hold” rating to a “buy” rating and lifted their price target for the company from $130.00 to $180.00 in a report on Tuesday, January 9th. The Goldman Sachs Group lifted their price target on Allstate from $164.00 to $195.00 and gave the company a “buy” rating in a report on Monday, March 25th. HSBC raised Allstate from a “hold” rating to a “buy” rating and lifted their price target for the company from $158.00 to $190.00 in a report on Thursday, March 28th. TheStreet raised Allstate from a “c+” rating to a “b” rating in a report on Wednesday, February 7th. Finally, Keefe, Bruyette & Woods lifted their price target on Allstate from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Allstate presently has an average rating of “Moderate Buy” and a consensus price target of $173.71.

Allstate Trading Down 1.7 %

Shares of Allstate stock traded down $3.01 during trading on Wednesday, hitting $172.27. 1,761,095 shares of the company were exchanged, compared to its average volume of 1,692,202. The firm has a market capitalization of $45.32 billion, a P/E ratio of -139.19, a price-to-earnings-growth ratio of 0.43 and a beta of 0.52. The Allstate Co. has a 1-year low of $100.57 and a 1-year high of $176.93. The firm’s fifty day moving average price is $164.50 and its 200 day moving average price is $148.42. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.37 and a quick ratio of 0.37.

Allstate (NYSE:ALL) last posted its earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.87 by $1.95. The company had revenue of $14.83 billion during the quarter, compared to analyst estimates of $12.69 billion. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.36) EPS. As a group, sell-side analysts expect that The Allstate Co. will post 13.44 earnings per share for the current fiscal year.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were given a $0.92 dividend. The ex-dividend date of this dividend was Friday, March 1st. This is a positive change from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 annualized dividend and a dividend yield of 2.14%. Allstate’s payout ratio is currently -296.77%.

Insider Activity at Allstate

In related news, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the completion of the transaction, the chief accounting officer now directly owns 10,736 shares in the company, valued at approximately $1,712,069.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Allstate news, insider John E. Dugenske sold 31,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total value of $5,276,200.00. Following the sale, the insider now owns 63,731 shares in the company, valued at approximately $10,847,016.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total value of $637,880.00. Following the completion of the sale, the chief accounting officer now owns 10,736 shares in the company, valued at approximately $1,712,069.92. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.

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.