North Star Investment Management Corp. Boosts Stake in Allstate Corp (NYSE:ALL)

North Star Investment Management Corp. lifted its stake in Allstate Corp (NYSE:ALL) by 336.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 22,009 shares of the insurance provider’s stock after acquiring an additional 16,962 shares during the period. North Star Investment Management Corp.’s holdings in Allstate were worth $2,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of ALL. Manchester Financial Inc. purchased a new stake in shares of Allstate in the 2nd quarter worth $25,000. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Allstate in the 2nd quarter worth $27,000. Stonebridge Capital Advisors LLC purchased a new stake in shares of Allstate in the 2nd quarter worth $34,000. Mcmillion Capital Management Inc. purchased a new stake in shares of Allstate in the 2nd quarter worth $35,000. Finally, Webster Bank N. A. increased its stake in shares of Allstate by 100.0% in the 2nd quarter. Webster Bank N. A. now owns 400 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Shares of ALL traded up $1.73 during midday trading on Friday, hitting $107.39. 671,202 shares of the company traded hands, compared to its average volume of 1,664,000. The firm has a 50 day moving average of $105.05 and a 200-day moving average of $100.58. Allstate Corp has a 52 week low of $77.00 and a 52 week high of $109.55. The stock has a market cap of $35.28 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 1.35 and a beta of 0.83. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.28 and a current ratio of 0.28.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.18 EPS for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.70. Allstate had a net margin of 6.52% and a return on equity of 12.66%. The firm had revenue of $8.99 billion during the quarter, compared to the consensus estimate of $8.96 billion. During the same quarter last year, the firm earned $2.00 EPS. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. Sell-side analysts predict that Allstate Corp will post 9.53 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, August 30th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date was Thursday, August 29th. Allstate’s payout ratio is 24.78%.

In related news, insider Mary Jane Fortin sold 9,773 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $104.21, for a total value of $1,018,444.33. Following the completion of the transaction, the insider now owns 33,808 shares of the company’s stock, valued at approximately $3,523,131.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Susan L. Lees sold 27,650 shares of the 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 transaction, the executive vice president now directly owns 53,165 shares of the company’s stock, valued at approximately $5,757,769.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 99,783 shares of company stock valued at $10,472,581. 1.60% of the stock is owned by insiders.

Several research analysts have commented on ALL shares. Credit Suisse Group downgraded shares of Allstate from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $100.00 to $94.00 in a report on Thursday, July 11th. Raymond James increased their price objective on shares of Allstate from $115.00 to $125.00 and gave the company a “strong-buy” rating in a report on Thursday, August 1st. Buckingham Research increased their price objective on shares of Allstate from $100.00 to $104.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Barclays set a $125.00 price objective on shares of Allstate and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Morgan Stanley increased their price objective on shares of Allstate from $108.00 to $110.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $107.92.

About Allstate

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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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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