Chartist Inc. CA Invests $518,000 in The Allstate Corporation $ALL

Chartist Inc. CA acquired a new position in The Allstate Corporation (NYSE:ALL) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,415 shares of the insurance provider’s stock, valued at approximately $518,000. Allstate accounts for approximately 0.6% of Chartist Inc. CA’s investment portfolio, making the stock its 9th biggest position.

Several other institutional investors have also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. boosted its holdings 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 valued at $27,000 after buying an additional 55 shares during the period. Barnes Dennig Private Wealth Management LLC raised its stake in Allstate by 112.3% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 73 shares during the period. Palisade Asset Management LLC bought a new position in Allstate in the third quarter worth about $31,000. Armstrong Advisory Group Inc. lifted its holdings in Allstate by 72.0% in the third quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 67 shares during the last quarter. Finally, South Plains Financial Inc. boosted its stake in Allstate by 41.5% in the third quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 49 shares during the period. Institutional investors own 76.47% of the company’s stock.

Insider Buying and Selling at Allstate

In related news, insider Suren Gupta sold 19,593 shares of the company’s stock in a transaction dated 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 sale, the insider owned 100,646 shares of the company’s stock, valued at $21,135,660. This represents a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wells Fargo & Company lowered their target price on Allstate from $228.00 to $227.00 and set an “equal weight” rating for the company in a report on Friday, February 20th. Morgan Stanley restated an “equal weight” rating and set a $215.00 price objective (down from $245.00) on shares of Allstate in a research report on Tuesday, December 16th. The Goldman Sachs Group restated a “neutral” rating and set a $231.00 price objective on shares of Allstate in a research note on Thursday, March 5th. Roth Mkm increased their target price on Allstate from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, November 26th. Finally, JPMorgan Chase & Co. raised their target price on Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $238.88.

Allstate Stock Performance

Shares of NYSE ALL opened at $207.32 on Wednesday. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $216.75. The company has a market cap of $53.81 billion, a PE ratio of 5.43, a P/E/G ratio of 0.43 and a beta of 0.23. The stock has a 50 day simple moving average of $204.57 and a 200-day simple moving average of $204.76. 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 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. 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 analysts’ expectations of $17.23 billion. During the same period last year, the firm earned $7.67 EPS. The firm’s revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts forecast that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Increases Dividend

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