Meyer Handelman Co. Has $43.75 Million Stock Holdings in The Allstate Corporation $ALL

Meyer Handelman Co. raised its stake in The Allstate Corporation (NYSE:ALL) by 2.0% in the 1st quarter, HoldingsChannel reports. The firm owned 211,009 shares of the insurance provider’s stock after acquiring an additional 4,222 shares during the quarter. Allstate makes up 1.4% of Meyer Handelman Co.’s portfolio, making the stock its 21st biggest position. Meyer Handelman Co.’s holdings in Allstate were worth $43,751,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MV Capital Management Inc. bought a new position in Allstate in the fourth quarter worth approximately $25,000. Dorato Capital Management acquired a new stake in Allstate in the fourth quarter valued at approximately $27,000. Navalign LLC bought a new stake in shares of Allstate during the fourth quarter valued at approximately $27,000. Palisade Asset Management LLC bought a new stake in shares of Allstate during the third quarter valued at approximately $31,000. Finally, Princeton Global Asset Management LLC raised its position in shares of Allstate by 101.3% during the fourth quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 76 shares during the period. Institutional investors own 76.47% of the company’s stock.

Analysts Set New Price Targets

ALL has been the subject of several research reports. Weiss Ratings reissued a “buy (a-)” rating on shares of Allstate in a research report on Thursday, June 18th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $260.00 price objective on shares of Allstate in a research note on Tuesday, March 3rd. Mizuho reduced their price objective on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, March 20th. Wall Street Zen downgraded shares of Allstate from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Zacks Research lowered shares of Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $240.33.

Allstate Stock Performance

Shares of ALL stock opened at $231.74 on Friday. The firm has a 50-day moving average of $217.25 and a 200-day moving average of $209.89. The company has a market cap of $59.65 billion, a P/E ratio of 5.11, a P/E/G ratio of 0.41 and a beta of 0.18. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36. The Allstate Corporation has a one year low of $188.08 and a one year high of $237.10.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. The business had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.53 EPS. Equities research analysts forecast that The Allstate Corporation will post 29.75 EPS for the current fiscal year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $1.08 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $4.32 annualized dividend and a dividend yield of 1.9%. Allstate’s dividend payout ratio is currently 9.53%.

Insider Activity at Allstate

In related news, insider Mark Q. Prindiville sold 1,550 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the sale, the insider directly owned 27,558 shares of the company’s stock, valued at approximately $5,959,968.66. This trade represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Mario Rizzo sold 18,578 shares of Allstate stock in a transaction on Friday, May 1st. The stock was sold at an average price of $218.80, for a total value of $4,064,866.40. Following the sale, the chief operating officer owned 82,227 shares in the company, valued at $17,991,267.60. This trade represents a 18.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 22,353 shares of company stock valued at $4,851,560. 1.55% of the stock is owned by insiders.

Allstate Company 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.