Boston Partners lowered its position in shares of The Allstate Co. (NYSE:ALL – Get Rating) by 63.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 583,875 shares of the insurance provider’s stock after selling 1,000,005 shares during the quarter. Boston Partners owned about 0.20% of Allstate worth $68,705,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the business. Nordea Investment Management AB raised its position in shares of Allstate by 102.8% in the 3rd quarter. Nordea Investment Management AB now owns 4,500,378 shares of the insurance provider’s stock worth $584,510,000 after purchasing an additional 2,281,743 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Allstate during the 4th quarter valued at approximately $184,428,000. Russell Investments Group Ltd. boosted its position in shares of Allstate by 133.7% during the 4th quarter. Russell Investments Group Ltd. now owns 873,429 shares of the insurance provider’s stock valued at $102,768,000 after acquiring an additional 499,647 shares during the last quarter. CWM LLC bought a new stake in Allstate in the fourth quarter worth $35,056,000. Finally, Assetmark Inc. lifted its position in shares of Allstate by 4,216.1% during the third quarter. Assetmark Inc. now owns 259,742 shares of the insurance provider’s stock worth $33,068,000 after purchasing an additional 253,724 shares during the last quarter. 74.65% of the stock is owned by institutional investors and hedge funds.
In other news, CFO Mario Rizzo sold 25,648 shares of Allstate stock in a transaction on Friday, February 4th. The stock was sold at an average price of $122.57, for a total value of $3,143,675.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO John C. Pintozzi sold 3,000 shares of Allstate stock in a transaction on Friday, February 25th. The shares were sold at an average price of $123.87, for a total value of $371,610.00. The disclosure for this sale can be found here. Insiders have sold 30,300 shares of company stock valued at $3,715,590 in the last three months. 1.56% of the stock is currently owned by company insiders.
Allstate (NYSE:ALL – Get Rating) last posted its quarterly earnings results on Wednesday, February 2nd. The insurance provider reported $2.75 EPS for the quarter, beating the consensus estimate of $2.74 by $0.01. The business had revenue of $10.85 billion during the quarter, compared to analysts’ expectations of $10.98 billion. Allstate had a return on equity of 16.60% and a net margin of 3.16%. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period last year, the firm earned $5.87 EPS. As a group, sell-side analysts predict that The Allstate Co. will post 10.13 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 1st. Investors of record on Monday, February 28th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Friday, February 25th. This is a boost from Allstate’s previous quarterly dividend of $0.81. This represents a $3.40 annualized dividend and a yield of 2.43%. Allstate’s payout ratio is currently 66.67%.
Several equities analysts have issued reports on the company. Morgan Stanley lifted their target price on Allstate from $140.00 to $152.00 and gave the company an “equal weight” rating in a research note on Thursday. Raymond James raised Allstate from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $145.00 to $165.00 in a report on Friday, March 18th. UBS Group raised Allstate from a “neutral” rating to a “buy” rating and boosted their price target for the company from $126.00 to $149.00 in a report on Monday, February 14th. Barclays boosted their price objective on Allstate from $119.00 to $141.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 12th. Finally, The Goldman Sachs Group upgraded Allstate from a “sell” rating to a “buy” rating and boosted their price target for the stock from $111.00 to $142.00 in a research report on Wednesday, March 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $140.00.
About Allstate (Get Rating)
The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home and stand-alone scheduled personal property; and commercial lines products under the Allstate and Encompass brand names.
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