IHT Wealth Management LLC Invests $348,000 in Allstate Corp (NYSE:ALL)
IHT Wealth Management LLC bought a new position in shares of Allstate Corp (NYSE:ALL) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 3,204 shares of the insurance provider’s stock, valued at approximately $348,000.
Several other institutional investors have also modified their holdings of the stock. Nuveen Asset Management LLC grew its position in Allstate by 19,864.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,907,977 shares of the insurance provider’s stock worth $194,023,000 after purchasing an additional 1,898,420 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Allstate by 141.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,246,700 shares of the insurance provider’s stock valued at $126,777,000 after buying an additional 729,400 shares during the period. MUFG Securities EMEA plc lifted its holdings in shares of Allstate by 297.7% in the 2nd quarter. MUFG Securities EMEA plc now owns 783,100 shares of the insurance provider’s stock valued at $79,633,000 after buying an additional 586,200 shares during the period. Invesco Ltd. boosted its stake in shares of Allstate by 12.6% in the second quarter. Invesco Ltd. now owns 4,342,920 shares of the insurance provider’s stock worth $441,631,000 after buying an additional 486,897 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of Allstate by 15.3% in the second quarter. California Public Employees Retirement System now owns 2,774,300 shares of the insurance provider’s stock worth $282,119,000 after buying an additional 367,710 shares during the last quarter. 77.05% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Croker Trevor acquired 44,975 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were acquired at an average cost of $34.22 per share, with a total value of $1,539,044.50. Also, EVP Susan L. Lees sold 27,650 shares of Allstate stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $108.30, for a total transaction of $2,994,495.00. Following the completion of the sale, the executive vice president now owns 53,165 shares in the company, valued at approximately $5,757,769.50. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.
Allstate (NYSE:ALL) last posted its quarterly earnings data on Tuesday, October 29th. The insurance provider reported $2.84 EPS for the quarter, beating the Zacks’ consensus estimate of $2.52 by $0.32. The business had revenue of $10.87 billion during the quarter, compared to analysts’ expectations of $9.07 billion. Allstate had a return on equity of 13.83% and a net margin of 6.57%. During the same period in the previous year, the business earned $1.93 earnings per share. On average, research analysts predict that Allstate Corp will post 10.04 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, November 27th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.80%. Allstate’s dividend payout ratio (DPR) is 24.78%.
Several brokerages recently weighed in on ALL. Morgan Stanley lifted their price target on Allstate from $108.00 to $110.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. ValuEngine lowered Allstate from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Buckingham Research upped their price objective on Allstate from $100.00 to $104.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. UBS Group raised their price objective on shares of Allstate from $110.00 to $112.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Evercore ISI started coverage on shares of Allstate in a report on Thursday, October 17th. They set an “in-line” rating and a $117.00 target price for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $109.55.
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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