US Bancorp DE Has $22.42 Million Stock Position in The Allstate Corporation $ALL

US Bancorp DE cut its holdings in shares of The Allstate Corporation (NYSE:ALL) by 2.9% in the third quarter, HoldingsChannel reports. The fund owned 104,443 shares of the insurance provider’s stock after selling 3,071 shares during the quarter. US Bancorp DE’s holdings in Allstate were worth $22,419,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in ALL. Harbor Capital Advisors Inc. grew its position in Allstate by 79.7% during the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 55 shares in the last quarter. Barnes Dennig Private Wealth Management LLC lifted its position in Allstate by 112.3% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock worth $30,000 after buying an additional 73 shares in the last quarter. Clearstead Trust LLC boosted its stake in shares of Allstate by 3,800.0% during the 2nd quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock valued at $31,000 after buying an additional 152 shares during the period. Armstrong Advisory Group Inc. grew its holdings in shares of Allstate by 72.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 67 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in shares of Allstate in the third quarter worth $37,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Performance

NYSE:ALL opened at $214.17 on Friday. The firm has a market capitalization of $55.59 billion, a PE ratio of 5.61, a PEG ratio of 0.44 and a beta of 0.23. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $216.75. The company has a current ratio of 0.37, a quick ratio of 0.43 and a debt-to-equity ratio of 0.26. The firm’s fifty day simple moving average is $204.23 and its 200 day simple moving average is $204.55.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.72 by $5.59. The company had revenue of $17.35 billion during the quarter, compared to analysts’ expectations of $17.23 billion. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $7.67 earnings per share. On average, sell-side analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be issued a $1.08 dividend. This is an increase from Allstate’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $4.32 dividend on an annualized basis and a yield of 2.0%. Allstate’s payout ratio is 10.47%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. The Goldman Sachs Group reissued a “buy” rating and set a $238.00 price objective on shares of Allstate in a research report on Saturday, February 7th. Morgan Stanley reissued an “equal weight” rating and issued a $215.00 price target (down from $245.00) on shares of Allstate in a research note on Tuesday, December 16th. TD Cowen lowered shares of Allstate from a “buy” rating to a “hold” rating in a research report on Monday, January 12th. William Blair downgraded shares of Allstate from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 18th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Allstate from $254.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 10th. Three research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and a consensus price target of $239.29.

Insider Activity at Allstate

In other news, insider Suren Gupta sold 19,593 shares of the stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total value of $4,114,530.00. Following the completion of the sale, the insider directly owned 100,646 shares of the company’s stock, valued at approximately $21,135,660. This represents a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by company insiders.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.