Schmidt P J Investment Management Inc. Acquires 1,358 Shares of Allstate Corp (NYSE:ALL)

Schmidt P J Investment Management Inc. lifted its holdings in Allstate Corp (NYSE:ALL) by 5.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,748 shares of the insurance provider’s stock after acquiring an additional 1,358 shares during the period. Schmidt P J Investment Management Inc.’s holdings in Allstate were worth $2,720,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ALL. Strategy Asset Managers LLC bought a new position in Allstate during the first quarter valued at approximately $25,000. Manchester Financial Inc. bought a new position in Allstate during the second quarter valued at approximately $25,000. Legacy Advisors LLC bought a new position in Allstate during the first quarter valued at approximately $29,000. Enterprise Financial Services Corp boosted its stake in Allstate by 85.1% during the first quarter. Enterprise Financial Services Corp now owns 385 shares of the insurance provider’s stock valued at $36,000 after buying an additional 177 shares during the last quarter. Finally, Osborn Williams & Donohoe LLC bought a new position in Allstate during the first quarter valued at approximately $38,000. 77.52% of the stock is owned by hedge funds and other institutional investors.

ALL stock traded down $1.78 during midday trading on Monday, reaching $102.73. 48,315 shares of the company traded hands, compared to its average volume of 1,367,372. Allstate Corp has a 52-week low of $77.00 and a 52-week high of $109.13. The company has a quick ratio of 0.29, a current ratio of 0.28 and a debt-to-equity ratio of 0.29. The stock’s 50 day simple moving average is $102.77. The firm has a market cap of $34.40 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 1.39 and a beta of 0.82.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.70. Allstate had a return on equity of 12.66% and a net margin of 6.52%. The business had revenue of $8.99 billion for the quarter, compared to the consensus estimate of $8.96 billion. During the same period in the prior year, the business posted $2.00 earnings per share. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, equities research analysts forecast that Allstate Corp will post 9.35 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $2.00 dividend on an annualized basis and a yield of 1.95%. Allstate’s dividend payout ratio (DPR) is presently 24.78%.

In other news, Director Judith A. Sprieser sold 2,225 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $102.63, for a total value of $228,351.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Susan L. Lees sold 30,189 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $102.26, for a total value of $3,087,127.14. Following the completion of the sale, the executive vice president now owns 62,854 shares in the company, valued at $6,427,450.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,703 shares of company stock worth $5,593,860. Company insiders own 1.60% of the company’s stock.

A number of equities analysts recently commented on ALL shares. Morgan Stanley increased their price target on Allstate from $100.00 to $108.00 and gave the company an “equal weight” rating in a research note on Friday, July 19th. Goldman Sachs Group raised Allstate from a “neutral” rating to a “buy” rating and increased their price target for the company from $106.00 to $110.00 in a research note on Wednesday, May 29th. Credit Suisse Group lowered Allstate from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $100.00 to $94.00 in a research note on Thursday, July 11th. UBS Group increased their price target on Allstate from $102.00 to $106.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Finally, Raymond James increased their price target on Allstate from $115.00 to $125.00 and gave the company a “strong-buy” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Allstate currently has a consensus rating of “Hold” and an average target price of $106.92.

Allstate Company Profile

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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