Cookson Peirce & Co. Inc. Grows Stock Position in The Allstate Corporation $ALL

Cookson Peirce & Co. Inc. raised its position in The Allstate Corporation (NYSE:ALL) by 3.7% in the 3rd quarter, Holdings Channel reports. The fund owned 73,091 shares of the insurance provider’s stock after purchasing an additional 2,582 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Allstate were worth $15,689,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. grew its holdings in Allstate by 79.7% during the 3rd 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 holdings 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 position in 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 last quarter. Caitong International Asset Management Co. Ltd boosted its position in Allstate by 315.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock valued at $33,000 after buying an additional 126 shares during the last quarter. Finally, Armstrong Advisory Group Inc. grew its stake in shares of Allstate by 72.0% during the third 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. 76.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on ALL shares. TD Cowen cut Allstate from a “buy” rating to a “hold” rating in a research note on Monday, January 12th. William Blair lowered Allstate from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 18th. BMO Capital Markets increased their target price on Allstate from $235.00 to $244.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Morgan Stanley restated an “equal weight” rating and issued a $215.00 price target (down previously from $245.00) on shares of Allstate in a research note on Tuesday, December 16th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $239.35.

Allstate Stock Up 0.8%

ALL stock opened at $206.41 on Friday. The firm has a market cap of $54.01 billion, a price-to-earnings ratio of 5.40, a PEG ratio of 0.43 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 firm has a fifty day moving average price of $203.43 and a two-hundred day moving average price of $203.97. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.43.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.72 by $5.59. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The company had revenue of $14.57 billion for the quarter, compared to the consensus estimate of $17.23 billion. During the same period last year, the firm posted $7.67 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Research analysts predict that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be paid a $1.08 dividend. The ex-dividend date is Monday, March 2nd. This is an increase from Allstate’s previous quarterly dividend of $1.00. This represents a $4.32 dividend on an annualized basis and a yield of 2.1%. Allstate’s payout ratio is presently 10.47%.

Insider Activity at Allstate

In other news, insider Suren Gupta sold 21,871 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 100,646 shares in the company, valued at approximately $21,660,025.66. This represents a 17.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 47,000 shares of company stock worth $10,012,228 over the last three months. 1.70% of the stock is currently owned by corporate 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.