Perigon Wealth Management LLC lessened its position in shares of The Allstate Co. (NYSE:ALL – Get Rating) by 6.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,825 shares of the insurance provider’s stock after selling 119 shares during the quarter. Perigon Wealth Management LLC’s holdings in Allstate were worth $227,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Allstate by 1.1% in the third quarter. Vanguard Group Inc. now owns 25,700,343 shares of the insurance provider’s stock valued at $3,200,463,000 after buying an additional 275,168 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Allstate by 1.0% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,028,442 shares of the insurance provider’s stock valued at $626,192,000 after buying an additional 49,793 shares during the period. Legal & General Group Plc lifted its stake in Allstate by 0.8% in the second quarter. Legal & General Group Plc now owns 2,897,864 shares of the insurance provider’s stock valued at $367,253,000 after buying an additional 22,466 shares during the period. Boston Partners lifted its stake in Allstate by 384.6% in the third quarter. Boston Partners now owns 2,707,454 shares of the insurance provider’s stock valued at $337,094,000 after buying an additional 2,148,764 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in Allstate by 41.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,572,349 shares of the insurance provider’s stock valued at $320,333,000 after buying an additional 759,114 shares during the period. Institutional investors and hedge funds own 77.48% of the company’s stock.
Analyst Upgrades and Downgrades
ALL has been the topic of several analyst reports. Morgan Stanley cut their target price on Allstate from $140.00 to $137.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 22nd. The Goldman Sachs Group increased their price target on Allstate from $146.00 to $166.00 and gave the stock a “buy” rating in a report on Monday, January 9th. Citigroup lowered their price target on Allstate from $160.00 to $150.00 in a report on Thursday, January 19th. StockNews.com started coverage on Allstate in a report on Thursday. They issued a “hold” rating for the company. Finally, Wells Fargo & Company lowered their price target on Allstate from $105.00 to $104.00 and set an “underweight” rating for the company in a report on Friday, February 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $147.31.
Allstate Stock Down 6.2 %
Allstate (NYSE:ALL – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The insurance provider reported ($1.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.01. Allstate had a negative return on equity of 1.04% and a negative net margin of 2.55%. The company had revenue of $13.55 billion during the quarter, compared to analysts’ expectations of $13.45 billion. During the same period last year, the firm posted $2.75 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis. On average, sell-side analysts predict that The Allstate Co. will post 6.81 EPS for the current year.
Allstate Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Tuesday, February 28th will be given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 3.39%. This is a boost from Allstate’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Monday, February 27th. Allstate’s dividend payout ratio (DPR) is presently -66.92%.
In other news, CFO Jesse E. Merten sold 29,451 shares of the firm’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $134.18, for a total value of $3,951,735.18. Following the completion of the sale, the chief financial officer now directly owns 16,668 shares of the company’s stock, valued at $2,236,512.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.77% of the company’s stock.
The Allstate Corp. engages in the property and casualty insurance business and the provision of protection solutions. It operates through following business segments: Allstate Protection, Protection Services, Allstate Health and Benefits, Run-off Property-Liability, and Corporate and Other. The Allstate Protection segment offers private passenger auto, homeowners, other personal lines, and commercial insurance marketed under the Allstate, National General, and Answer Financial brand names.
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