Wright Investors Service Inc. Acquires Shares of 2,774 The Allstate Co. (NYSE:ALL)

Wright Investors Service Inc. acquired a new stake in shares of The Allstate Co. (NYSE:ALL) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,774 shares of the insurance provider’s stock, valued at approximately $388,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Allstate by 70.7% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 384 shares of the insurance provider’s stock valued at $54,000 after acquiring an additional 159 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Allstate by 6.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 23,576 shares of the insurance provider’s stock valued at $3,300,000 after acquiring an additional 1,338 shares during the last quarter. Scissortail Wealth Management LLC purchased a new position in shares of Allstate in the fourth quarter worth approximately $2,867,000. Saybrook Capital NC purchased a new position in shares of Allstate in the fourth quarter worth approximately $208,000. Finally, SVB Wealth LLC boosted its holdings in shares of Allstate by 1.2% in the fourth quarter. SVB Wealth LLC now owns 6,169 shares of the insurance provider’s stock worth $864,000 after buying an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ALL. Roth Mkm lifted their price target on shares of Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a report on Monday, April 8th. Raymond James boosted their price target on shares of Allstate from $155.00 to $180.00 and gave the stock a “strong-buy” rating in a research report on Monday, January 22nd. Evercore ISI boosted their price target on shares of Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Keefe, Bruyette & Woods boosted their price target on shares of Allstate from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company boosted their price target on shares of Allstate from $145.00 to $146.00 and gave the stock an “underweight” rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Allstate presently has an average rating of “Moderate Buy” and an average target price of $173.71.

Allstate Stock Up 3.8 %

Shares of ALL opened at $169.12 on Friday. The Allstate Co. has a 12-month low of $100.57 and a 12-month high of $174.57. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.37 and a quick ratio of 0.37. The firm has a fifty day moving average price of $163.59 and a 200-day moving average price of $146.60.

Allstate (NYSE:ALL) last issued its earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.87 by $1.95. The firm had revenue of $14.83 billion during the quarter, compared to analyst estimates of $12.69 billion. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The business’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.36) earnings per share. On average, equities analysts expect that The Allstate Co. will post 13.5 EPS for the current year.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were paid a dividend of $0.92 per share. This is a positive change from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend was Friday, March 1st. Allstate’s payout ratio is currently -296.77%.

Allstate 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.