TD Asset Management Inc Acquires 57,509 Shares of The Allstate Corporation $ALL

TD Asset Management Inc boosted its holdings in The Allstate Corporation (NYSE:ALL) by 21.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 327,175 shares of the insurance provider’s stock after buying an additional 57,509 shares during the period. TD Asset Management Inc owned approximately 0.13% of Allstate worth $70,228,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ALL. Norges Bank bought a new stake in shares of Allstate during the 2nd quarter valued at $482,870,000. Swedbank AB grew its stake in shares of Allstate by 2,157.8% during the third quarter. Swedbank AB now owns 861,725 shares of the insurance provider’s stock worth $184,969,000 after purchasing an additional 823,559 shares during the period. Ameriprise Financial Inc. increased its holdings in Allstate by 52.7% in the second quarter. Ameriprise Financial Inc. now owns 1,385,901 shares of the insurance provider’s stock valued at $279,062,000 after purchasing an additional 478,598 shares during the last quarter. Vanguard Group Inc. increased its holdings in Allstate by 1.3% in the second quarter. Vanguard Group Inc. now owns 33,235,231 shares of the insurance provider’s stock valued at $6,690,584,000 after purchasing an additional 435,145 shares during the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in Allstate in the second quarter valued at about $68,590,000. 76.47% of the stock is owned by institutional investors.

Allstate Price Performance

Shares of ALL opened at $212.57 on Friday. The stock has a 50 day simple moving average of $204.05 and a 200 day simple moving average of $204.49. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $216.75. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.43 and a current ratio of 0.37. The firm has a market capitalization of $55.17 billion, a PE ratio of 5.57, a P/E/G ratio of 0.43 and a beta of 0.23.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, beating analysts’ consensus estimates of $8.72 by $5.59. The firm had revenue of $17.35 billion for the quarter, compared to analyst estimates of $17.23 billion. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The business’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.67 earnings per share. Sell-side analysts predict that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, March 2nd. This is a boost from Allstate’s previous quarterly dividend of $1.00. Allstate’s dividend payout ratio (DPR) is currently 11.31%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ALL shares. Mizuho boosted their target price on Allstate from $255.00 to $281.00 and gave the stock an “outperform” rating in a research report on Monday, February 9th. Keefe, Bruyette & Woods lifted their price objective on shares of Allstate from $254.00 to $260.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 10th. Morgan Stanley restated an “equal weight” rating and set a $215.00 price objective (down from $245.00) on shares of Allstate in a report on Tuesday, December 16th. JPMorgan Chase & Co. upped their target price 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. Finally, Roth Mkm increased their target price on shares of Allstate from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. Three analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Allstate has an average rating of “Moderate Buy” and an average target price of $239.29.

Insiders Place Their Bets

In other Allstate news, insider Suren Gupta sold 19,593 shares of the stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the completion of the transaction, the insider owned 100,646 shares in the company, valued at approximately $21,135,660. This 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 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.