Swiss Life Asset Management Ltd Increases Position in The Allstate Corporation $ALL

Swiss Life Asset Management Ltd lifted its stake in The Allstate Corporation (NYSE:ALL) by 14.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,873 shares of the insurance provider’s stock after acquiring an additional 9,638 shares during the period. Swiss Life Asset Management Ltd’s holdings in Allstate were worth $16,501,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Innova Wealth Partners raised its holdings in Allstate by 6.0% in the third quarter. Innova Wealth Partners now owns 1,151 shares of the insurance provider’s stock worth $247,000 after purchasing an additional 65 shares in the last quarter. Cambria Investment Management L.P. purchased a new stake in Allstate during the third quarter valued at approximately $466,000. Vermillion & White Wealth Management Group LLC raised its stake in Allstate by 14.5% in the third quarter. Vermillion & White Wealth Management Group LLC now owns 1,262 shares of the insurance provider’s stock valued at $271,000 after buying an additional 160 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in Allstate by 11.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 17,204 shares of the insurance provider’s stock worth $3,693,000 after acquiring an additional 1,741 shares during the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new stake in Allstate in the 3rd quarter worth approximately $7,814,000. Institutional investors own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ALL shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $220.00 price objective on shares of Allstate in a research note on Thursday, February 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Allstate in a research note on Wednesday, January 21st. Morgan Stanley restated an “equal weight” rating and set a $215.00 price target (down from $245.00) on shares of Allstate in a research report on Tuesday, December 16th. Evercore set a $225.00 price objective on shares of Allstate in a report on Wednesday, January 7th. Finally, 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 research note on Wednesday, November 26th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. 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 the stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the completion of the sale, the insider owned 100,646 shares in the company, valued at approximately $21,135,660. This represents a 16.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.70% of the company’s stock.

Allstate Stock Performance

Shares of Allstate stock opened at $203.94 on Friday. The business’s fifty day simple moving average is $204.37 and its 200-day simple moving average is $204.76. 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 Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $216.75. The firm has a market cap of $52.93 billion, a PE ratio of 5.34, a price-to-earnings-growth ratio of 0.42 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 firm had revenue of $17.35 billion for 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%.Allstate’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $7.67 earnings per share. Equities analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

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