Balentine LLC Makes New Investment in The Allstate Co. (NYSE:ALL)

Balentine LLC acquired a new position in shares of The Allstate Co. (NYSE:ALL) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,608 shares of the insurance provider’s stock, valued at approximately $225,000.

Other hedge funds have also recently bought and sold shares of the company. Ellsworth Advisors LLC purchased a new position in Allstate during the 4th quarter worth $4,312,000. SteelPeak Wealth LLC raised its stake in Allstate by 175.2% in the 4th quarter. SteelPeak Wealth LLC now owns 15,682 shares of the insurance provider’s stock valued at $2,209,000 after acquiring an additional 9,984 shares during the period. Assenagon Asset Management S.A. raised its stake in Allstate by 484.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 332,104 shares of the insurance provider’s stock valued at $46,488,000 after acquiring an additional 275,319 shares during the period. Mizuho Markets Americas LLC bought a new stake in Allstate in the 4th quarter valued at about $52,042,000. Finally, Meeder Asset Management Inc. raised its stake in Allstate by 214.6% in the 4th quarter. Meeder Asset Management Inc. now owns 1,570 shares of the insurance provider’s stock valued at $220,000 after acquiring an additional 1,071 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Price Performance

Shares of Allstate stock opened at $164.00 on Friday. 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 has a market cap of $43.28 billion, a PE ratio of 36.20, a P/E/G ratio of 1.57 and a beta of 0.51. The business has a 50 day moving average of $168.97 and a 200 day moving average of $155.06. The Allstate Co. has a 52 week low of $100.57 and a 52 week high of $177.37.

Allstate (NYSE:ALL) last announced its earnings results on Thursday, May 2nd. The insurance provider reported $5.13 EPS for the quarter, beating analysts’ consensus estimates of $4.11 by $1.02. The company had revenue of $15.26 billion during the quarter, compared to the consensus estimate of $12.76 billion. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.30) earnings per share. As a group, equities research analysts forecast that The Allstate Co. will post 15.15 earnings per share for the current year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, May 31st will be issued a $0.92 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $3.68 dividend on an annualized basis and a yield of 2.24%. Allstate’s dividend payout ratio (DPR) is 81.24%.

Insiders Place Their Bets

In other news, insider John E. Dugenske sold 31,000 shares of the stock in a transaction on 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 sale, the insider now directly owns 63,731 shares of the company’s stock, valued at $10,847,016.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider John E. Dugenske sold 31,000 shares of the stock in a transaction on 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 sale, the insider now directly owns 63,731 shares of the company’s stock, valued at $10,847,016.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the completion of the sale, the chief accounting officer now directly owns 10,736 shares in the company, valued at $1,712,069.92. The disclosure for this sale can be found here. 1.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ALL has been the topic of a number of research reports. TheStreet upgraded Allstate from a “c+” rating to a “b” rating in a research note on Wednesday, February 7th. Roth Mkm boosted their price objective on Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Wells Fargo & Company boosted their price objective on Allstate from $146.00 to $153.00 and gave the stock an “underweight” rating in a report on Friday, May 10th. JPMorgan Chase & Co. upped their target price on Allstate from $185.00 to $193.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Finally, HSBC raised Allstate from a “hold” rating to a “buy” rating and upped their target price for the stock from $158.00 to $190.00 in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $174.59.

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.