Rothschild Investment Corp IL raised its holdings in Allstate Corp (NYSE:ALL) by 7.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,256 shares of the insurance provider’s stock after acquiring an additional 948 shares during the period. Rothschild Investment Corp IL’s holdings in Allstate were worth $1,441,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Manchester Financial Inc. purchased a new position in shares of Allstate during the 2nd quarter valued at about $25,000. Redhawk Wealth Advisors Inc. purchased a new position in shares of Allstate during the 2nd quarter valued at about $27,000. Stonebridge Capital Advisors LLC purchased a new position in shares of Allstate during the 2nd quarter valued at about $34,000. Mcmillion Capital Management Inc. purchased a new position in shares of Allstate during the 2nd quarter valued at about $35,000. Finally, Webster Bank N. A. raised its holdings in shares of Allstate by 100.0% during the 2nd quarter. Webster Bank N. A. now owns 400 shares of the insurance provider’s stock valued at $41,000 after buying an additional 200 shares in the last quarter. 76.81% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ALL stock traded up $0.79 during trading hours on Friday, reaching $107.93. The company’s stock had a trading volume of 1,293,077 shares, compared to its average volume of 1,736,086. The stock has a market capitalization of $34.86 billion, a P/E ratio of 13.37, a P/E/G ratio of 1.33 and a beta of 0.83. Allstate Corp has a one year low of $77.00 and a one year high of $109.55. The firm’s fifty day simple moving average is $105.70 and its 200 day simple moving average is $101.05. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.29.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.85%. Allstate’s dividend payout ratio is currently 24.78%.
In other news, Vice Chairman Steven E. Shebik sold 35,014 shares of Allstate stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $103.64, for a total value of $3,628,850.96. Following the sale, the insider now directly owns 121,476 shares in the company, valued at approximately $12,589,772.64. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Jesse E. Merten sold 900 shares of Allstate stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $102.27, for a total value of $92,043.00. Following the completion of the sale, the executive vice president now owns 4,869 shares in the company, valued at $497,952.63. The disclosure for this sale can be found here. Over the last quarter, insiders sold 99,783 shares of company stock worth $10,472,581. Corporate insiders own 1.60% of the company’s stock.
A number of brokerages recently weighed in on ALL. Morgan Stanley raised their price objective on Allstate from $108.00 to $110.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Raymond James raised their price objective on Allstate from $115.00 to $125.00 and gave the company a “strong-buy” rating in a report on Thursday, August 1st. Barclays set a $125.00 price objective on Allstate and gave the company a “buy” rating in a report on Monday, August 12th. Buckingham Research raised their price objective on Allstate from $100.00 to $104.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Finally, UBS Group raised their price objective on Allstate from $110.00 to $112.00 and gave the company a “neutral” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $108.38.
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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