Perigon Wealth Management LLC Increases Position in The Allstate Co. (NYSE:ALL)

Perigon Wealth Management LLC lifted its holdings in The Allstate Co. (NYSE:ALL) by 35.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,054 shares of the insurance provider’s stock after buying an additional 803 shares during the period. Perigon Wealth Management LLC’s holdings in Allstate were worth $427,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ellsworth Advisors LLC purchased a new position in shares of Allstate in the 4th quarter worth approximately $4,312,000. SteelPeak Wealth LLC boosted its stake in shares of Allstate by 175.2% in the 4th quarter. SteelPeak Wealth LLC now owns 15,682 shares of the insurance provider’s stock worth $2,209,000 after buying an additional 9,984 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Allstate by 484.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 332,104 shares of the insurance provider’s stock worth $46,488,000 after buying an additional 275,319 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in Allstate by 214.6% in the fourth quarter. Meeder Asset Management Inc. now owns 1,570 shares of the insurance provider’s stock valued at $220,000 after purchasing an additional 1,071 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in Allstate by 88.7% in the fourth quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 24,496 shares of the insurance provider’s stock valued at $3,429,000 after purchasing an additional 11,512 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Trading Down 0.6 %

Allstate stock opened at $165.76 on Tuesday. The stock has a market cap of $43.61 billion, a P/E ratio of -133.68, a PEG ratio of 0.41 and a beta of 0.52. The Allstate Co. has a fifty-two week low of $100.57 and a fifty-two week high of $174.57. The firm’s fifty day moving average price is $163.22 and its 200-day moving average price is $145.95. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.37 and a current ratio of 0.37.

Allstate (NYSE:ALL) last announced its earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.87 by $1.95. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The company had revenue of $14.83 billion during the quarter, compared to analyst estimates of $12.69 billion. During the same period in the previous year, the business earned ($1.36) earnings per share. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. Equities research analysts forecast that The Allstate Co. will post 13.41 earnings per share for the current fiscal year.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were given a $0.92 dividend. The ex-dividend date was Friday, March 1st. This is a positive change from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 annualized dividend and a yield of 2.22%. Allstate’s payout ratio is -296.77%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Keefe, Bruyette & Woods upped their price objective on Allstate from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Wells Fargo & Company upped their price objective on Allstate from $145.00 to $146.00 and gave the company an “underweight” rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. upped their price objective on Allstate from $172.00 to $185.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Roth Mkm upped their price objective on Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, HSBC raised shares of Allstate from a “hold” rating to a “buy” rating and boosted their target price for the company from $158.00 to $190.00 in a report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $173.71.

Insider Buying and Selling

In related news, CAO John C. Pintozzi sold 4,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total value of $637,880.00. Following the completion of the transaction, the chief accounting officer now directly owns 10,736 shares in the company, valued at $1,712,069.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Allstate news, insider John E. Dugenske sold 31,000 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the completion of the sale, the insider now directly owns 63,731 shares in the company, valued at $10,847,016.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO John C. Pintozzi sold 4,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the sale, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The disclosure for this sale can be found here. 1.80% of the stock is owned by company insiders.

Allstate Company Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.