Allstate Corp (ALL) Position Cut by Associated Banc Corp
Associated Banc Corp lowered its holdings in shares of Allstate Corp (NYSE:ALL) by 2.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 115,466 shares of the insurance provider’s stock after selling 2,695 shares during the quarter. Associated Banc Corp’s holdings in Allstate were worth $12,090,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Wealthstreet Investment Advisors LLC purchased a new position in Allstate during the 4th quarter valued at $1,246,000. Oppenheimer & Co. Inc. boosted its holdings in Allstate by 10.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 5,523 shares of the insurance provider’s stock valued at $579,000 after acquiring an additional 529 shares during the period. First Business Financial Services Inc. boosted its holdings in Allstate by 20.3% during the 4th quarter. First Business Financial Services Inc. now owns 8,579 shares of the insurance provider’s stock valued at $898,000 after acquiring an additional 1,450 shares during the period. Swiss National Bank lifted its holdings in shares of Allstate by 5.8% in the 4th quarter. Swiss National Bank now owns 1,708,373 shares of the insurance provider’s stock worth $178,884,000 after buying an additional 93,700 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in shares of Allstate by 4.7% in the 4th quarter. California Public Employees Retirement System now owns 1,124,814 shares of the insurance provider’s stock worth $117,779,000 after buying an additional 50,906 shares during the period. Institutional investors own 76.89% of the company’s stock.
Several equities research analysts have weighed in on ALL shares. Wells Fargo & Co set a $105.00 target price on Allstate and gave the stock a “buy” rating in a report on Thursday, October 19th. Credit Suisse Group upped their target price on Allstate from $91.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday, November 2nd. Zacks Investment Research upgraded Allstate from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. UBS Group upped their target price on Allstate from $93.00 to $102.00 and gave the stock a “neutral” rating in a report on Monday, November 6th. Finally, B. Riley reiterated a “neutral” rating on shares of Allstate in a report on Monday, November 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. Allstate has an average rating of “Hold” and a consensus price target of $97.00.
Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $2.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.56. The firm had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.09 billion. Allstate had a return on equity of 12.57% and a net margin of 8.28%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.17 EPS. research analysts anticipate that Allstate Corp will post 8.21 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 5th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.02%. This is a positive change from Allstate’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, March 2nd. Allstate’s payout ratio is presently 17.68%.
In other news, EVP Susan L. Lees sold 4,000 shares of the business’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $100.49, for a total value of $401,960.00. Following the completion of the transaction, the executive vice president now directly owns 24,341 shares of the company’s stock, valued at approximately $2,446,027.09. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.58% of the company’s stock.
The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.
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