12,532 Shares in The Allstate Corporation $ALL Bought by Grandfield & Dodd LLC

Grandfield & Dodd LLC bought a new position in shares of The Allstate Corporation (NYSE:ALL) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 12,532 shares of the insurance provider’s stock, valued at approximately $2,982,000.

Other institutional investors have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Allstate by 5.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552,120 shares of the insurance provider’s stock worth $112,533,000 after purchasing an additional 26,586 shares in the last quarter. Strategic Global Advisors LLC increased its stake in Allstate by 19.2% in the 4th quarter. Strategic Global Advisors LLC now owns 48,882 shares of the insurance provider’s stock valued at $10,175,000 after purchasing an additional 7,870 shares in the last quarter. Elevation Point Wealth Partners LLC raised its stake in shares of Allstate by 130.9% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 19,288 shares of the insurance provider’s stock worth $4,016,000 after buying an additional 10,936 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Allstate by 69.2% in the fourth quarter. CIBC Asset Management Inc now owns 63,011 shares of the insurance provider’s stock valued at $13,116,000 after purchasing an additional 25,764 shares in the last quarter. Finally, Sienna Gestion acquired a new position in shares of Allstate during the 4th quarter worth approximately $957,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Andrea Redmond sold 2,225 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the completion of the transaction, the director owned 2,225 shares in the company, valued at approximately $451,474.75. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John E. Dugenske sold 32,996 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the completion of the transaction, the insider owned 13,054 shares of the company’s stock, valued at approximately $3,515,833.82. This trade represents a 71.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 92,996 shares of company stock worth $24,543,894 over the last ninety days. Insiders own 1.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods upped their target price on shares of Allstate from $242.00 to $255.00 and gave the company a “market perform” rating in a report on Wednesday, July 8th. HSBC cut Allstate from a “buy” rating to a “hold” rating and lifted their target price for the company from $244.00 to $264.00 in a report on Monday, July 6th. Morgan Stanley set a $265.00 price objective on shares of Allstate in a research note on Tuesday, August 11th. UBS Group upped their target price on Allstate from $261.00 to $275.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Finally, JPMorgan Chase & Co. upped their target price on shares of Allstate from $282.00 to $292.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Allstate has a consensus rating of “Hold” and a consensus price target of $265.53.

Allstate Price Performance

Shares of ALL opened at $257.88 on Tuesday. The firm has a market cap of $65.21 billion, a price-to-earnings ratio of 5.15, a PEG ratio of 0.41 and a beta of 0.16. The stock has a 50 day moving average of $247.38 and a 200-day moving average of $223.47. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $277.22.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, beating the consensus estimate of $6.06 by $2.93. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The firm had revenue of $15.43 billion during the quarter, compared to analyst estimates of $15.46 billion. During the same quarter in the previous year, the firm earned $5.94 earnings per share. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, analysts forecast that The Allstate Corporation will post 33.92 EPS for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be given a dividend of $1.08 per share. The ex-dividend date is Monday, August 31st. This represents a $4.32 dividend on an annualized basis and a yield of 1.7%. Allstate’s payout ratio is currently 8.63%.

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.