Mackenzie Financial Corp Has $31.83 Million Stake in The Allstate Co. (NYSE:ALL)

Mackenzie Financial Corp grew its holdings in The Allstate Co. (NYSE:ALL) by 77.0% during the 4th quarter, HoldingsChannel reports. The firm owned 227,400 shares of the insurance provider’s stock after acquiring an additional 98,914 shares during the quarter. Mackenzie Financial Corp’s holdings in Allstate were worth $31,831,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ellsworth Advisors LLC acquired a new stake in shares of Allstate in the fourth quarter valued at about $4,312,000. SteelPeak Wealth LLC grew its position in shares of Allstate by 175.2% in the fourth quarter. SteelPeak Wealth LLC now owns 15,682 shares of the insurance provider’s stock valued at $2,209,000 after purchasing an additional 9,984 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Allstate by 484.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 332,104 shares of the insurance provider’s stock valued at $46,488,000 after purchasing an additional 275,319 shares during the last quarter. Meeder Asset Management Inc. grew its position in shares of 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 grew its position in Allstate by 88.7% during the fourth quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 24,496 shares of the insurance provider’s stock worth $3,429,000 after buying an additional 11,512 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Allstate Stock Performance

Shares of NYSE:ALL opened at $162.92 on Thursday. The company’s 50 day moving average price is $163.44 and its two-hundred day moving average price is $146.44. The Allstate Co. has a 12-month low of $100.57 and a 12-month high of $174.57. The firm has a market cap of $42.86 billion, a PE ratio of -131.39, a PEG ratio of 0.41 and a beta of 0.52. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.51.

Allstate (NYSE:ALL) last posted its quarterly 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. The business had revenue of $14.83 billion for the quarter, compared to analyst estimates of $12.69 billion. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted ($1.36) EPS. Equities research analysts predict that The Allstate Co. will post 13.41 earnings per share for the current year.

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were given a dividend of $0.92 per share. This is a positive change from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Friday, March 1st. This represents a $3.68 annualized dividend and a dividend yield of 2.26%. Allstate’s dividend payout ratio (DPR) is currently -296.77%.

Analysts Set New Price Targets

A number of research firms recently weighed in on ALL. The Goldman Sachs Group lifted their target price on Allstate from $164.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. Piper Sandler lifted their target price on Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Morgan Stanley lifted their target price on Allstate from $187.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday. HSBC upgraded shares of Allstate from a “hold” rating to a “buy” rating and raised their price target for the stock from $158.00 to $190.00 in a research note on Thursday, March 28th. Finally, Roth Mkm raised their price target on shares of Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.71.

About Allstate

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.