M&T Bank Corp trimmed its position in The Allstate Co. (NYSE:ALL - Free Report) by 92.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,991 shares of the insurance provider's stock after selling 70,925 shares during the period. M&T Bank Corp's holdings in Allstate were worth $1,136,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. FSA Wealth Management LLC purchased a new stake in shares of Allstate in the 3rd quarter worth about $26,000. Northwest Investment Counselors LLC purchased a new stake in Allstate in the third quarter worth about $28,000. Catalyst Capital Advisors LLC bought a new position in shares of Allstate during the third quarter valued at approximately $29,000. Family Firm Inc. purchased a new position in shares of Allstate during the second quarter valued at approximately $38,000. Finally, MCF Advisors LLC boosted its position in shares of Allstate by 33.9% in the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider's stock worth $53,000 after purchasing an additional 84 shares in the last quarter. Institutional investors own 76.47% of the company's stock.
Shares of ALL opened at $196.26 on Monday. The firm has a market cap of $51.97 billion, a PE ratio of 12.71, a P/E/G ratio of 1.70 and a beta of 0.50. The Allstate Co. has a 1-year low of $134.17 and a 1-year high of $209.88. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43. The firm has a fifty day simple moving average of $194.95 and a two-hundred day simple moving average of $181.54.
Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, beating analysts' consensus estimates of $2.20 by $1.71. The company had revenue of $16.63 billion during the quarter, compared to analysts' expectations of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. Allstate's revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 earnings per share. On average, equities analysts anticipate that The Allstate Co. will post 16.26 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Friday, November 29th. Allstate's payout ratio is 23.83%.
A number of research analysts recently weighed in on the company. Evercore ISI lifted their price objective on Allstate from $191.00 to $195.00 and gave the company an "in-line" rating in a research note on Wednesday, October 9th. UBS Group raised their price target on Allstate from $216.00 to $225.00 and gave the company a "buy" rating in a report on Monday, November 4th. BMO Capital Markets upped their price target on shares of Allstate from $205.00 to $214.00 and gave the stock an "outperform" rating in a research note on Friday, October 18th. Raymond James raised their price objective on shares of Allstate from $205.00 to $220.00 and gave the company a "strong-buy" rating in a research note on Friday, October 4th. Finally, Jefferies Financial Group upped their target price on shares of Allstate from $231.00 to $267.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $217.19.
View Our Latest Stock Analysis on Allstate
In other Allstate news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 27,364 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is currently owned by company insiders.
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.
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