Legal & General Group Plc Has $416.82 Million Position in The Allstate Co. (NYSE:ALL)

Legal & General Group Plc decreased its stake in The Allstate Co. (NYSE:ALL) by 0.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,610,666 shares of the insurance provider’s stock after selling 20,606 shares during the period. Legal & General Group Plc’s holdings in Allstate were worth $416,819,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Rafferty Asset Management LLC raised its holdings in Allstate by 5.7% during the 4th quarter. Rafferty Asset Management LLC now owns 92,753 shares of the insurance provider’s stock worth $12,984,000 after purchasing an additional 4,987 shares during the last quarter. Lighthouse Investment Partners LLC bought a new position in Allstate during the fourth quarter worth $5,927,000. BDF Gestion acquired a new position in Allstate in the second quarter valued at $3,051,000. BNP Paribas Financial Markets boosted its position in Allstate by 55.8% during the first quarter. BNP Paribas Financial Markets now owns 218,629 shares of the insurance provider’s stock valued at $37,825,000 after acquiring an additional 78,316 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new stake in Allstate during the 2nd quarter worth about $476,000. 76.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Barclays initiated coverage on Allstate in a research note on Wednesday, September 4th. They issued an “underweight” rating and a $175.00 price objective on the stock. TD Cowen boosted their price target on Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Bank of America raised their price objective on shares of Allstate from $213.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. boosted their target price on shares of Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Finally, StockNews.com cut shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Allstate has an average rating of “Moderate Buy” and an average target price of $192.76.

Insider Transactions at Allstate

In related news, insider John E. Dugenske sold 36,367 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the transaction, the insider now directly owns 27,364 shares in the company, valued at $5,236,922.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Allstate news, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the transaction, the insider now owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Elizabeth Brady sold 49,481 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $179.09, for a total value of $8,861,552.29. Following the completion of the transaction, the executive vice president now owns 19,163 shares in the company, valued at approximately $3,431,901.67. The disclosure for this sale can be found here. Insiders sold a total of 238,305 shares of company stock worth $43,082,657 in the last quarter. 1.80% of the stock is currently owned by corporate insiders.

Allstate Trading Down 0.2 %

ALL opened at $188.36 on Friday. The firm has a market capitalization of $49.71 billion, a PE ratio of 41.58, a P/E/G ratio of 1.81 and a beta of 0.48. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. The Allstate Co. has a fifty-two week low of $109.01 and a fifty-two week high of $193.97. The company’s 50-day moving average is $181.32 and its 200 day moving average is $171.40.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, topping the consensus estimate of $0.33 by $1.28. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The firm had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $14.04 billion. During the same period in the prior year, the business posted ($4.42) earnings per share. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, research analysts predict that The Allstate Co. will post 15.2 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Friday, August 30th. Allstate’s dividend payout ratio is 81.24%.

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.