27,034 Shares in The Allstate Corporation $ALL Bought by Alps Advisors Inc.

Alps Advisors Inc. purchased a new stake in The Allstate Corporation (NYSE:ALL) in the third quarter, HoldingsChannel.com reports. The firm purchased 27,034 shares of the insurance provider’s stock, valued at approximately $5,803,000.

Other large investors have also modified their holdings of the company. Harbor Capital Advisors Inc. grew its position in Allstate by 79.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 55 shares during the last quarter. Barnes Dennig Private Wealth Management LLC raised its stake in shares of Allstate by 112.3% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock valued at $30,000 after buying an additional 73 shares during the last quarter. Clearstead Trust LLC lifted its holdings in shares of Allstate by 3,800.0% in 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. boosted its stake in shares of Allstate by 72.0% in the third quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider’s stock worth $34,000 after buying an additional 67 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in Allstate by 315.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 126 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Price Performance

Allstate stock opened at $199.91 on Tuesday. The company has a fifty day simple moving average of $203.68 and a 200-day simple moving average of $203.92. The firm has a market capitalization of $52.31 billion, a price-to-earnings ratio of 5.23, a PEG ratio of 0.45 and a beta of 0.24. The company has a quick ratio of 0.43, 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 announced its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.72 by $5.59. The company had revenue of $14.57 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%. Allstate’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $7.67 EPS. On average, equities analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be issued a $1.08 dividend. This is a boost from Allstate’s previous quarterly dividend of $1.00. This represents a $4.32 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, March 2nd. Allstate’s payout ratio is 10.47%.

Insider Buying and Selling

In other Allstate news, insider Suren Gupta sold 21,871 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $215.21, for a total transaction of $4,706,857.91. Following the transaction, the insider owned 100,646 shares of the company’s stock, valued at approximately $21,660,025.66. The trade was a 17.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 48,400 shares of company stock worth $10,313,256 in the last quarter. Company insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Wall Street Zen cut shares of Allstate from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Morgan Stanley restated an “equal weight” rating and set a $215.00 price target (down previously from $245.00) on shares of Allstate in a research report on Tuesday, December 16th. UBS Group upped their price objective on shares of Allstate from $250.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. The Goldman Sachs Group reiterated a “buy” rating and set a $238.00 price target on shares of Allstate in a research report on Saturday. Finally, William Blair lowered shares of Allstate from an “outperform” rating to a “market perform” rating in a report on Thursday, December 18th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $240.13.

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.