Pictet Asset Management Holding SA Increases Stock Position in The Allstate Corporation $ALL

Pictet Asset Management Holding SA raised its position in shares of The Allstate Corporation (NYSE:ALL) by 2.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 387,275 shares of the insurance provider’s stock after purchasing an additional 10,501 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Allstate were worth $80,613,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. lifted its position in shares of Allstate by 79.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 55 shares during the period. Dorato Capital Management purchased a new stake in shares of Allstate in the 4th quarter worth about $27,000. Barnes Dennig Private Wealth Management LLC lifted its position in shares of Allstate by 112.3% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 73 shares during the period. Princeton Global Asset Management LLC lifted its position in shares of Allstate by 101.3% in the 4th quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 76 shares during the period. Finally, Palisade Asset Management LLC purchased a new stake in shares of Allstate in the 3rd quarter worth about $31,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Stock Up 1.0%

Shares of Allstate stock opened at $216.36 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.37. The company has a 50-day moving average of $210.01 and a 200 day moving average of $205.75. The firm has a market cap of $55.87 billion, a price-to-earnings ratio of 5.67, a PEG ratio of 0.44 and a beta of 0.22. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $219.48.

Allstate (NYSE:ALL) last issued its quarterly earnings results 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. The company had revenue of $17.35 billion during 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%. Allstate’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the business earned $7.67 EPS. As a group, sell-side analysts anticipate that The Allstate Corporation will post 25.82 earnings per share for the current fiscal year.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 2nd were paid a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Monday, March 2nd. This is a positive change from Allstate’s previous quarterly dividend of $1.00. Allstate’s dividend payout ratio (DPR) is 11.31%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ALL shares. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $231.00 target price on shares of Allstate in a research report on Thursday, March 5th. Weiss Ratings raised shares of Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, March 23rd. JPMorgan Chase & Co. raised their target price on shares of Allstate from $260.00 to $263.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Zacks Research cut shares of Allstate from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, Wells Fargo & Company raised their target price on shares of Allstate from $227.00 to $229.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 9th. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $238.65.

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.