Wakefield Asset Management LLLP Makes New $1.62 Million Investment in The Allstate Corporation $ALL

Wakefield Asset Management LLLP purchased a new position in shares of The Allstate Corporation (NYSE:ALL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,554 shares of the insurance provider’s stock, valued at approximately $1,622,000.

A number of other institutional investors have also made changes to their positions in ALL. Harbor Capital Advisors Inc. increased its stake in Allstate by 79.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock worth $27,000 after buying an additional 55 shares during the period. Barnes Dennig Private Wealth Management LLC increased its position in shares of Allstate by 112.3% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 73 shares during the last quarter. Clearstead Trust LLC lifted its stake in shares of Allstate by 3,800.0% in the second quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 152 shares in the last quarter. Armstrong Advisory Group Inc. boosted its holdings in Allstate by 72.0% in the third quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 67 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. acquired a new stake in Allstate during the 3rd quarter valued at approximately $37,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Suren Gupta sold 19,593 shares of Allstate stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total value of $4,114,530.00. Following the sale, the insider directly owned 100,646 shares in the company, valued at $21,135,660. This trade represents a 16.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

Allstate Price Performance

ALL opened at $207.44 on Wednesday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The company’s 50-day moving average price is $204.60 and its 200 day moving average price is $204.66. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $216.75. The firm has a market cap of $53.84 billion, a price-to-earnings ratio of 5.43, a price-to-earnings-growth ratio of 0.43 and a beta of 0.23.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, February 4th. The insurance provider reported $14.31 EPS for the quarter, beating the consensus estimate of $8.72 by $5.59. The company had revenue of $17.35 billion during the quarter, compared to analyst estimates of $17.23 billion. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The business’s revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $7.67 earnings per share. As a group, sell-side analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be given a dividend of $1.08 per share. This is an increase from Allstate’s previous quarterly dividend of $1.00. This represents a $4.32 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Monday, March 2nd. Allstate’s payout ratio is currently 11.31%.

Wall Street Analysts Forecast Growth

ALL has been the topic of a number of recent analyst reports. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $231.00 target price on shares of Allstate in a research report on Thursday, March 5th. Citigroup increased their price objective on shares of Allstate from $216.00 to $221.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Zacks Research raised shares of Allstate from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. Evercore set a $225.00 price objective on Allstate in a report on Wednesday, January 7th. Finally, Roth Mkm lifted their target price on Allstate from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, November 26th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $238.88.

Allstate Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.