The Manufacturers Life Insurance Company Purchases 66,483 Shares of The Allstate Co. (NYSE:ALL)

The Manufacturers Life Insurance Company lifted its position in shares of The Allstate Co. (NYSE:ALL) by 32.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 269,708 shares of the insurance provider’s stock after acquiring an additional 66,483 shares during the period. The Manufacturers Life Insurance Company’s holdings in Allstate were worth $51,150,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new stake in shares of Allstate during the third quarter valued at approximately $28,000. Catalyst Capital Advisors LLC purchased a new stake in Allstate in the third quarter worth approximately $29,000. Versant Capital Management Inc boosted its holdings in Allstate by 70.9% in the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 78 shares during the last quarter. Family Firm Inc. purchased a new stake in Allstate in the second quarter worth approximately $38,000. Finally, MCF Advisors LLC boosted its holdings in Allstate by 33.9% in the second quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock worth $53,000 after purchasing an additional 84 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

Insider Activity at Allstate

In related news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the transaction, the insider now directly owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. This trade represents a 57.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by insiders.

Allstate Trading Up 0.2 %

Allstate stock opened at $208.20 on Friday. The stock has a market cap of $55.13 billion, a P/E ratio of 13.48, a PEG ratio of 1.80 and a beta of 0.48. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40. The Allstate Co. has a 1 year low of $134.17 and a 1 year high of $209.88. The firm’s 50 day moving average price is $192.69 and its 200-day moving average price is $178.77.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $1.71. The firm had revenue of $16.63 billion for the quarter, compared to analysts’ expectations of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 earnings per share. On average, equities analysts predict that The Allstate Co. will post 16.07 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Friday, November 29th. Allstate’s payout ratio is currently 23.83%.

Analysts Set New Price Targets

Several brokerages recently issued reports on ALL. TD Cowen raised their target price on shares of Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. The Goldman Sachs Group raised their target price on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Barclays raised their target price on shares of Allstate from $175.00 to $187.00 and gave the stock an “underweight” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. raised their target price on shares of Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, StockNews.com downgraded shares of Allstate from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and an average price target of $217.19.

Allstate Company Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.