Martingale Asset Management L P Sells 9,373 Shares of The Allstate Corporation $ALL

Martingale Asset Management L P trimmed its position in shares of The Allstate Corporation (NYSE:ALL) by 6.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,759 shares of the insurance provider’s stock after selling 9,373 shares during the quarter. Martingale Asset Management L P’s holdings in Allstate were worth $27,423,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC raised its stake in Allstate by 60.2% during the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock worth $1,253,000 after buying an additional 2,443 shares during the period. Revolve Wealth Partners LLC bought a new position in Allstate during the fourth quarter worth about $231,000. AE Wealth Management LLC grew its stake in Allstate by 20.8% in the second quarter. AE Wealth Management LLC now owns 4,288 shares of the insurance provider’s stock valued at $863,000 after acquiring an additional 739 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Allstate in the second quarter worth about $640,000. Finally, Vise Technologies Inc. bought a new stake in shares of Allstate in the second quarter worth about $1,225,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Down 0.4%

ALL stock opened at $204.84 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.37. The stock has a market capitalization of $53.16 billion, a P/E ratio of 5.36, a P/E/G ratio of 0.43 and a beta of 0.23. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $216.75. The business has a 50-day moving average of $204.47 and a 200-day moving average of $204.66.

Allstate (NYSE:ALL) last announced its 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 business had revenue of $17.35 billion for the quarter, compared to analyst estimates of $17.23 billion. Allstate had a return on equity of 39.20% and a net margin of 15.19%.Allstate’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $7.67 EPS. On average, sell-side analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The firm 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. 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%. This is an increase from Allstate’s previous quarterly dividend of $1.00. Allstate’s dividend payout ratio (DPR) is 11.31%.

Insider Activity

In other news, insider Suren Gupta sold 19,593 shares of the business’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total value of $4,114,530.00. Following the sale, the insider owned 100,646 shares of the company’s stock, valued at $21,135,660. The trade was a 16.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ALL. Raymond James Financial reiterated a “strong-buy” rating and set a $260.00 price objective on shares of Allstate in a report on Tuesday, March 3rd. Citigroup increased their target price on Allstate from $216.00 to $221.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 10th. TD Cowen downgraded shares of Allstate from a “buy” rating to a “hold” rating in a report on Monday, January 12th. Keefe, Bruyette & Woods lifted their price target on shares of Allstate from $254.00 to $260.00 and gave the company an “outperform” rating in a research note on Tuesday, February 10th. Finally, Roth Mkm upped their price target on shares of Allstate from $230.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Allstate presently has an average rating of “Moderate Buy” and a consensus target price of $238.88.

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.