Klingenstein Fields & Co. LLC decreased its position in shares of Allstate Corp (NYSE:ALL) by 11.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,672 shares of the insurance provider’s stock after selling 6,908 shares during the period. Klingenstein Fields & Co. LLC’s holdings in Allstate were worth $4,352,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of ALL. NuWave Investment Management LLC lifted its stake in shares of Allstate by 870.8% in the fourth quarter. NuWave Investment Management LLC now owns 466 shares of the insurance provider’s stock worth $39,000 after acquiring an additional 418 shares during the period. Bank of Montreal Can lifted its stake in shares of Allstate by 65.3% in the fourth quarter. Bank of Montreal Can now owns 2,957,927 shares of the insurance provider’s stock worth $244,414,000 after acquiring an additional 1,168,707 shares during the period. Intact Investment Management Inc. acquired a new position in shares of Allstate in the fourth quarter worth approximately $471,000. Adirondack Trust Co. lifted its stake in shares of Allstate by 83.3% in the fourth quarter. Adirondack Trust Co. now owns 1,100 shares of the insurance provider’s stock worth $91,000 after acquiring an additional 500 shares during the period. Finally, Gemmer Asset Management LLC lifted its stake in shares of Allstate by 40.0% in the fourth quarter. Gemmer Asset Management LLC now owns 563 shares of the insurance provider’s stock worth $47,000 after acquiring an additional 161 shares during the period. Institutional investors own 78.05% of the company’s stock.
ALL has been the topic of a number of recent analyst reports. Wells Fargo & Co set a $100.00 price objective on Allstate and gave the stock a “hold” rating in a research note on Thursday, December 13th. Edward Jones raised Allstate from a “sell” rating to a “hold” rating in a research note on Tuesday, December 11th. ValuEngine downgraded Allstate from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. Compass Point began coverage on Allstate in a report on Tuesday, January 15th. They issued a “buy” rating and a $114.00 target price for the company. Finally, Credit Suisse Group lowered their target price on Allstate from $112.00 to $93.00 and set a “buy” rating for the company in a report on Thursday, December 20th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $101.27.
Allstate (NYSE:ALL) last announced its quarterly earnings results on Tuesday, February 5th. The insurance provider reported $1.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.23. Allstate had a return on equity of 14.00% and a net margin of 5.66%. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.66 billion. During the same quarter in the prior year, the company posted $2.09 earnings per share. Allstate’s revenue was up 6.2% compared to the same quarter last year. On average, equities analysts anticipate that Allstate Corp will post 9.24 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Thursday, February 28th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, February 27th. This represents a $2.00 annualized dividend and a yield of 2.13%. This is an increase from Allstate’s previous quarterly dividend of $0.46. Allstate’s dividend payout ratio is 22.80%.
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The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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