J. Safra Sarasin Holding AG Decreases Holdings in The Allstate Corporation $ALL

J. Safra Sarasin Holding AG reduced its stake in The Allstate Corporation (NYSE:ALL) by 35.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,967 shares of the insurance provider’s stock after selling 40,087 shares during the period. J. Safra Sarasin Holding AG’s holdings in Allstate were worth $14,980,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in ALL. Mn Services Vermogensbeheer B.V. boosted its position in shares of Allstate by 1.3% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 101,583 shares of the insurance provider’s stock worth $21,145,000 after buying an additional 1,310 shares during the period. Neumann Capital Management LLC grew its stake in shares of Allstate by 7.8% in the fourth quarter. Neumann Capital Management LLC now owns 9,656 shares of the insurance provider’s stock valued at $2,010,000 after buying an additional 700 shares in the last quarter. Beacon Investment Advisory Services Inc. raised its holdings in shares of Allstate by 3.7% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 37,510 shares of the insurance provider’s stock valued at $7,808,000 after buying an additional 1,337 shares during the period. Goelzer Investment Management Inc. purchased a new stake in shares of Allstate during the 4th quarter valued at about $687,000. Finally, Exchange Traded Concepts LLC lifted its position in Allstate by 28.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 8,588 shares of the insurance provider’s stock worth $1,788,000 after acquiring an additional 1,881 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ALL. 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 report on Tuesday, December 16th. William Blair cut shares of Allstate from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 18th. The Goldman Sachs Group restated a “neutral” rating and issued a $231.00 target price on shares of Allstate in a research note on Thursday, March 5th. Mizuho dropped their price target on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating on the stock in a research note on Friday, March 20th. Finally, Citigroup boosted their price objective on shares of Allstate from $216.00 to $221.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Four investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $237.94.

Allstate Stock Performance

Shares of ALL opened at $207.12 on Tuesday. The firm has a market cap of $53.76 billion, a price-to-earnings ratio of 5.42, a PEG ratio of 0.41 and a beta of 0.23. 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 business’s 50 day moving average is $205.33 and its two-hundred day moving average is $204.95. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $216.75.

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

About Allstate

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.