Victory Capital Management Inc. Boosts Position in The Allstate Co. (NYSE:ALL)

Victory Capital Management Inc. raised its stake in shares of The Allstate Co. (NYSE:ALL) by 103.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 166,495 shares of the insurance provider’s stock after purchasing an additional 84,741 shares during the quarter. Victory Capital Management Inc. owned approximately 0.06% of Allstate worth $23,306,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ALL. Vanguard Group Inc. raised its stake in Allstate by 11.5% in the third quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock worth $3,595,266,000 after buying an additional 3,322,673 shares in the last quarter. Invesco Ltd. raised its position in shares of Allstate by 46.6% in the 3rd quarter. Invesco Ltd. now owns 4,121,941 shares of the insurance provider’s stock worth $459,225,000 after acquiring an additional 1,311,095 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in shares of Allstate by 23.0% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,184,211 shares of the insurance provider’s stock valued at $466,163,000 after purchasing an additional 782,696 shares during the period. Nordea Investment Management AB boosted its position in shares of Allstate by 49.5% during the third quarter. Nordea Investment Management AB now owns 1,640,174 shares of the insurance provider’s stock valued at $183,388,000 after purchasing an additional 542,842 shares in the last quarter. Finally, Morgan Stanley grew its stake in Allstate by 16.9% in the third quarter. Morgan Stanley now owns 3,701,607 shares of the insurance provider’s stock worth $412,396,000 after purchasing an additional 536,137 shares during the period. 76.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Morgan Stanley upped their target price on shares of Allstate from $187.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Evercore ISI raised their target price on shares of Allstate from $166.00 to $173.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods boosted their price target on Allstate from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. TD Cowen began coverage on Allstate in a research note on Wednesday, January 10th. They issued an “outperform” rating and a $193.00 price target on the stock. Finally, Raymond James lifted their price objective on Allstate from $155.00 to $180.00 and gave the company a “strong-buy” rating in a research note on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.18.

Insider Transactions at Allstate

In other Allstate news, insider John E. Dugenske sold 31,000 shares of the firm’s 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 SEC, which is available through this hyperlink. In other news, insider John E. Dugenske sold 31,000 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was 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 $10,847,016.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 10,736 shares in the company, 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 Up 1.2 %

Shares of Allstate stock opened at $170.28 on Thursday. The Allstate Co. has a twelve month low of $100.57 and a twelve month high of $177.37. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.48. The company’s 50 day moving average is $166.44 and its 200 day moving average is $151.91. The company has a market cap of $44.94 billion, a price-to-earnings ratio of 37.59, a price-to-earnings-growth ratio of 0.39 and a beta of 0.51.

Allstate (NYSE:ALL) last released its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, beating the consensus estimate of $4.11 by $1.02. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The firm had revenue of $15.26 billion for the quarter, compared to analysts’ expectations of $12.76 billion. During the same period in the prior year, the firm earned ($1.30) EPS. The company’s revenue was up 10.7% compared to the same quarter last year. Research analysts anticipate that The Allstate Co. will post 14.57 EPS for the current year.

Allstate Increases Dividend

The firm also recently announced 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 represents a $3.68 annualized dividend and a yield of 2.16%. 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. Allstate’s payout ratio is 81.24%.

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.