2,415 Shares in The Allstate Corporation $ALL Acquired by Chartist Inc. CA

Chartist Inc. CA bought a new position in The Allstate Corporation (NYSE:ALL) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,415 shares of the insurance provider’s stock, valued at approximately $518,000. Allstate accounts for about 0.6% of Chartist Inc. CA’s investment portfolio, making the stock its 9th largest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Allstate during the 2nd quarter valued at $482,870,000. Swedbank AB lifted its holdings in shares of Allstate by 2,157.8% in the third quarter. Swedbank AB now owns 861,725 shares of the insurance provider’s stock valued at $184,969,000 after buying an additional 823,559 shares during the period. Woodline Partners LP bought a new position in Allstate during the third quarter valued at about $148,641,000. Ameriprise Financial Inc. grew its holdings in Allstate by 52.7% during the second quarter. Ameriprise Financial Inc. now owns 1,385,901 shares of the insurance provider’s stock worth $279,062,000 after acquiring an additional 478,598 shares during the period. Finally, Danske Bank A S acquired a new position in Allstate during the third quarter worth about $100,596,000. 76.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on ALL. Citigroup upped their price target on shares of Allstate from $216.00 to $221.00 and gave the company a “neutral” rating in a report on Tuesday, February 10th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $215.00 price objective (down from $245.00) on shares of Allstate in a research note on Tuesday, December 16th. Zacks Research upgraded shares of Allstate from a “hold” rating to a “strong-buy” rating in a report on Friday, February 20th. Roth Mkm raised their target price on shares of Allstate from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. Finally, Mizuho lifted their price target on shares of Allstate from $255.00 to $281.00 and gave the stock an “outperform” rating in a research report on Monday, February 9th. 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $238.88.

Insider Activity at Allstate

In related news, insider Suren Gupta sold 19,593 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider owned 100,646 shares of the company’s stock, valued at approximately $21,135,660. This trade represents a 16.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.70% of the company’s stock.

Allstate Trading Down 0.2%

Shares of ALL opened at $207.32 on Wednesday. The business’s 50-day moving average price is $204.57 and its 200 day moving average price is $204.76. The stock has a market capitalization of $53.81 billion, a P/E ratio of 5.43, a P/E/G ratio of 0.43 and a beta of 0.23. The Allstate Corporation has a 1-year low of $176.00 and a 1-year high of $216.75. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.72 by $5.59. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The firm had revenue of $17.35 billion for the quarter, compared to the consensus estimate of $17.23 billion. During the same quarter in the previous year, the company earned $7.67 EPS. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. 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. Investors of record on Monday, March 2nd will be given a $1.08 dividend. This is a boost from Allstate’s previous quarterly dividend of $1.00. The ex-dividend date is Monday, March 2nd. This represents a $4.32 annualized dividend and a dividend yield of 2.1%. Allstate’s payout ratio is currently 11.31%.

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.