Mackenzie Financial Corp Has $97.76 Million Holdings in The Allstate Corporation $ALL

Mackenzie Financial Corp cut its position in The Allstate Corporation (NYSE:ALL) by 10.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 455,457 shares of the insurance provider’s stock after selling 52,171 shares during the period. Mackenzie Financial Corp’s holdings in Allstate were worth $97,764,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. raised its position in Allstate by 79.7% during the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 55 shares in the last quarter. Barnes Dennig Private Wealth Management LLC grew its position in shares of Allstate by 112.3% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 73 shares during the period. Clearstead Trust LLC increased its stake in shares of Allstate by 3,800.0% during the 2nd quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 152 shares during the last quarter. Armstrong Advisory Group Inc. raised its holdings in shares of Allstate by 72.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 67 shares during the period. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in shares of Allstate in the 3rd quarter valued at about $37,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Allstate news, insider Suren Gupta sold 19,593 shares of the business’s stock in a transaction dated 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 completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.70% of the stock is owned by company insiders.

Analyst Ratings Changes

ALL has been the subject of a number of research analyst reports. The Goldman Sachs Group reiterated a “neutral” rating and set a $231.00 price target on shares of Allstate in a report on Thursday, March 5th. William Blair lowered Allstate from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 18th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $215.00 price objective (down from $245.00) on shares of Allstate in a research report on Tuesday, December 16th. TD Cowen lowered Allstate from a “buy” rating to a “hold” rating in a report on Monday, January 12th. Finally, JPMorgan Chase & Co. increased their price target on Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and an average price target of $238.88.

Allstate Stock Down 1.0%

Allstate stock opened at $205.46 on Thursday. The company’s 50-day moving average price is $204.54 and its two-hundred day moving average price is $204.66. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The stock has a market cap of $53.33 billion, a P/E ratio of 5.38, a P/E/G ratio of 0.43 and a beta of 0.23. The Allstate Corporation has a twelve month low of $176.00 and a twelve month high of $216.75.

Allstate (NYSE:ALL) last issued its quarterly earnings data 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 return on equity of 39.20% and a net margin of 15.19%.The company had revenue of $17.35 billion during the quarter, compared to analysts’ expectations of $17.23 billion. During the same quarter in the previous year, the company posted $7.67 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis. As a group, analysts expect that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be given a dividend of $1.08 per share. This is a positive change 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%. The ex-dividend date of this dividend is Monday, March 2nd. Allstate’s payout ratio is 11.31%.

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.