Legal & General Group Plc Buys 126,401 Shares of The Allstate Corporation $ALL

Legal & General Group Plc increased its stake in The Allstate Corporation (NYSE:ALL) by 6.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,011,214 shares of the insurance provider’s stock after buying an additional 126,401 shares during the period. Legal & General Group Plc’s holdings in Allstate were worth $431,707,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its holdings in shares of Allstate by 60.2% in the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock valued at $1,253,000 after purchasing an additional 2,443 shares during the period. Revolve Wealth Partners LLC bought a new stake in shares of Allstate in the 4th quarter valued at about $231,000. AE Wealth Management LLC raised its holdings in shares of Allstate by 20.8% in the 2nd quarter. AE Wealth Management LLC now owns 4,288 shares of the insurance provider’s stock valued at $863,000 after purchasing an additional 739 shares in the last quarter. AGF Management Ltd. lifted its position in shares of Allstate by 3.6% during the second quarter. AGF Management Ltd. now owns 14,648 shares of the insurance provider’s stock valued at $2,949,000 after buying an additional 515 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Allstate during the second quarter valued at approximately $640,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ALL shares. Wells Fargo & Company dropped their price objective on shares of Allstate from $228.00 to $227.00 and set an “equal weight” rating on the stock in a report on Friday, February 20th. Citigroup upped their price objective on shares of Allstate from $216.00 to $221.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $260.00 price objective on shares of Allstate in a report on Tuesday, March 3rd. William Blair cut Allstate from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 18th. Finally, TD Cowen downgraded shares of Allstate from a “buy” rating to a “hold” rating in a report on Monday, January 12th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and a consensus target price of $238.88.

Insider Transactions at Allstate

In other Allstate news, insider Suren Gupta sold 19,593 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the sale, the insider directly owned 100,646 shares of the company’s stock, valued at $21,135,660. This trade represents a 16.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.70% of the company’s stock.

Allstate Trading Down 0.1%

NYSE ALL opened at $207.44 on Wednesday. The stock has a market capitalization of $53.84 billion, a PE ratio of 5.43, a price-to-earnings-growth ratio of 0.43 and a beta of 0.23. The firm has a 50 day moving average of $204.60 and a two-hundred day moving average of $204.66. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $216.75.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, topping the consensus estimate of $8.72 by $5.59. The business had revenue of $17.35 billion during the quarter, compared to the consensus estimate of $17.23 billion. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $7.67 EPS. As a group, research analysts expect that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be paid a dividend of $1.08 per share. This is a boost 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 annualized dividend and a dividend yield of 2.1%. Allstate’s dividend payout ratio is presently 11.31%.

Allstate Profile

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.