Quest Capital Management Inc. ADV lowered its position in shares of Allstate Corp (NYSE:ALL) by 99.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,603 shares of the insurance provider’s stock after selling 528,950 shares during the period. Quest Capital Management Inc. ADV’s holdings in Allstate were worth $468,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Boston Partners boosted its holdings in Allstate by 17.1% in the first quarter. Boston Partners now owns 11,106,016 shares of the insurance provider’s stock worth $1,045,965,000 after purchasing an additional 1,620,871 shares during the last quarter. LSV Asset Management boosted its holdings in Allstate by 3.6% in the first quarter. LSV Asset Management now owns 5,854,851 shares of the insurance provider’s stock worth $551,409,000 after purchasing an additional 204,500 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Allstate by 9.0% in the fourth quarter. Geode Capital Management LLC now owns 4,733,322 shares of the insurance provider’s stock worth $390,468,000 after purchasing an additional 391,869 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Allstate by 10.9% during the 1st quarter. Bank of Montreal Can now owns 3,279,066 shares of the insurance provider’s stock worth $308,822,000 after acquiring an additional 321,139 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Allstate by 1.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,646,227 shares of the insurance provider’s stock worth $218,651,000 after acquiring an additional 50,073 shares during the last quarter. 76.81% of the stock is owned by institutional investors.
Shares of Allstate stock traded up $0.08 on Tuesday, hitting $104.07. 136,645 shares of the company’s stock were exchanged, compared to its average volume of 1,606,545. The company has a 50-day simple moving average of $103.40 and a 200-day simple moving average of $97.91. The stock has a market capitalization of $33.98 billion, a PE ratio of 12.90, a PEG ratio of 1.31 and a beta of 0.82. Allstate Corp has a 1 year low of $77.00 and a 1 year high of $109.13. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.28 and a current ratio of 0.28.
Allstate (NYSE:ALL) last released its earnings results on Tuesday, July 30th. The insurance provider reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.70. Allstate had a net margin of 6.52% and a return on equity of 12.66%. The company had revenue of $8.99 billion for the quarter, compared to analysts’ expectations of $8.96 billion. During the same quarter in the previous year, the company earned $2.00 EPS. Allstate’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, analysts expect that Allstate Corp will post 9.46 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Thursday, August 29th. Allstate’s dividend payout ratio (DPR) is 24.78%.
In related news, insider Mary Jane Fortin sold 9,773 shares of Allstate stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $104.21, for a total transaction of $1,018,444.33. Following the transaction, the insider now owns 33,808 shares in the company, valued at approximately $3,523,131.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Vice Chairman Steven E. Shebik sold 35,014 shares of Allstate stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $103.64, for a total transaction of $3,628,850.96. Following the transaction, the insider now owns 121,476 shares in the company, valued at approximately $12,589,772.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 126,836 shares of company stock worth $13,071,947. 1.60% of the stock is owned by corporate insiders.
Several brokerages have recently weighed in on ALL. Goldman Sachs Group upgraded shares of Allstate from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $106.00 to $110.00 in a research note on Wednesday, May 29th. Raymond James lifted their price target on shares of Allstate from $115.00 to $125.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 1st. Credit Suisse Group cut shares of Allstate from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $100.00 to $94.00 in a research note on Thursday, July 11th. Barclays set a $125.00 price target on shares of Allstate and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, UBS Group lifted their price target on shares of Allstate from $102.00 to $106.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Allstate currently has a consensus rating of “Hold” and an average price target of $108.25.
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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