Kepler Cheuvreux Suisse SA Acquires New Holdings in The Allstate Corporation $ALL

Kepler Cheuvreux Suisse SA bought a new position in shares of The Allstate Corporation (NYSE:ALL) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 8,341 shares of the insurance provider’s stock, valued at approximately $1,790,000.

Several other institutional investors and hedge funds have also bought and sold shares of ALL. Nemes Rush Group LLC increased its holdings in shares of Allstate by 0.5% in the third quarter. Nemes Rush Group LLC now owns 47,219 shares of the insurance provider’s stock worth $10,136,000 after purchasing an additional 244 shares during the period. Quadrant Capital Group LLC boosted its stake in Allstate by 1.1% during the third quarter. Quadrant Capital Group LLC now owns 7,183 shares of the insurance provider’s stock valued at $1,542,000 after buying an additional 77 shares during the period. Bank of Montreal Can grew its position in Allstate by 15.5% during the third quarter. Bank of Montreal Can now owns 493,111 shares of the insurance provider’s stock worth $105,846,000 after buying an additional 66,097 shares in the last quarter. Legal & General Group Plc grew its position in Allstate by 6.7% during the third quarter. Legal & General Group Plc now owns 2,011,214 shares of the insurance provider’s stock worth $431,707,000 after buying an additional 126,401 shares in the last quarter. Finally, Fieldview Capital Management LLC bought a new position in Allstate in the 3rd quarter worth about $2,441,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Stock Down 1.0%

Shares of NYSE ALL opened at $205.46 on Thursday. The Allstate Corporation has a one year low of $176.00 and a one year high of $216.75. The stock has a market capitalization of $53.33 billion, a P/E ratio of 5.38, a PEG ratio of 0.43 and a beta of 0.23. The firm’s 50 day simple moving average is $204.54 and its two-hundred day simple moving average is $204.66. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.37.

Allstate (NYSE:ALL) last released 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 for the quarter, compared to analyst estimates of $17.23 billion. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $7.67 EPS. As a group, analysts expect that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

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

Analysts Set New Price Targets

Several analysts have weighed in on ALL shares. TD Cowen cut Allstate from a “buy” rating to a “hold” rating in a report on Monday, January 12th. William Blair cut shares of Allstate from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 18th. Keefe, Bruyette & Woods raised their target price on shares of Allstate from $254.00 to $260.00 and gave the company an “outperform” rating in a research note on Tuesday, February 10th. Mizuho lifted their target price on shares of Allstate from $255.00 to $281.00 and gave the company an “outperform” rating in a research report on Monday, February 9th. Finally, Wells Fargo & Company decreased their price target on shares of Allstate from $228.00 to $227.00 and set an “equal weight” rating on the stock in a report on Friday, February 20th. 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’s stock. According to MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and an average price target of $238.88.

Insider Activity at Allstate

In other news, insider Suren Gupta sold 19,593 shares of Allstate stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total value of $4,114,530.00. Following the transaction, the insider owned 100,646 shares in the company, valued at approximately $21,135,660. The trade was a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Allstate Company 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.