Congress Asset Management Co. MA Acquires 2,840 Shares of The Allstate Co. (NYSE:ALL)

Congress Asset Management Co. MA increased its holdings in shares of The Allstate Co. (NYSE:ALL) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 91,308 shares of the insurance provider’s stock after acquiring an additional 2,840 shares during the quarter. Congress Asset Management Co. MA’s holdings in Allstate were worth $12,781,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of ALL. Gradient Investments LLC increased its position in Allstate by 1.6% in the fourth quarter. Gradient Investments LLC now owns 4,130 shares of the insurance provider’s stock worth $578,000 after buying an additional 66 shares during the last quarter. Brighton Jones LLC increased its position in Allstate by 1.9% in the fourth quarter. Brighton Jones LLC now owns 3,862 shares of the insurance provider’s stock worth $541,000 after buying an additional 71 shares during the last quarter. SVB Wealth LLC increased its position in Allstate by 1.2% in the fourth quarter. SVB Wealth LLC now owns 6,169 shares of the insurance provider’s stock worth $864,000 after buying an additional 72 shares during the last quarter. AdvisorNet Financial Inc increased its position in Allstate by 1.5% in the fourth quarter. AdvisorNet Financial Inc now owns 5,384 shares of the insurance provider’s stock worth $754,000 after buying an additional 82 shares during the last quarter. Finally, St. Johns Investment Management Company LLC grew its position in shares of Allstate by 2.2% in the fourth quarter. St. Johns Investment Management Company LLC now owns 3,955 shares of the insurance provider’s stock valued at $554,000 after purchasing an additional 85 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.

Insider Activity at Allstate

In related news, insider John E. Dugenske sold 31,000 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the transaction, the insider now owns 63,731 shares in the company, valued at approximately $10,847,016.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.80% of the stock is owned by company insiders.

Allstate Trading Down 2.3 %

Shares of NYSE ALL traded down $3.76 during midday trading on Friday, reaching $157.07. The company had a trading volume of 1,986,593 shares, compared to its average volume of 1,246,395. The Allstate Co. has a one year low of $100.57 and a one year high of $177.37. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.48. The firm’s fifty day moving average price is $167.35 and its 200-day moving average price is $158.76. The stock has a market cap of $41.45 billion, a PE ratio of 34.67, a price-to-earnings-growth ratio of 1.48 and a beta of 0.50.

Allstate (NYSE:ALL) last released its earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, beating analysts’ consensus estimates of $4.11 by $1.02. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The company had revenue of $15.26 billion during the quarter, compared to analyst estimates of $12.76 billion. During the same quarter in the previous year, the company posted ($1.30) EPS. Allstate’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities research analysts anticipate that The Allstate Co. will post 15.13 earnings per share for the current year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, May 31st will be issued a dividend of $0.92 per share. The ex-dividend date is Friday, May 31st. This represents a $3.68 dividend on an annualized basis and a yield of 2.34%. Allstate’s dividend payout ratio is presently 81.24%.

Analyst Ratings Changes

ALL has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price target on Allstate from $185.00 to $193.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Morgan Stanley lifted their price target on Allstate from $187.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. HSBC upgraded Allstate from a “hold” rating to a “buy” rating and lifted their price target for the company from $158.00 to $190.00 in a research report on Thursday, March 28th. StockNews.com lowered Allstate from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 3rd. Finally, Keefe, Bruyette & Woods lifted their price objective on Allstate from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $174.59.

About Allstate

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.