Cullen Investment Group LTD. Has $2.78 Million Stock Position in The Allstate Co. (NYSE:ALL)

Cullen Investment Group LTD. increased its position in shares of The Allstate Co. (NYSE:ALL) by 0.7% during the third quarter, Holdings Channel reports. The fund owned 14,644 shares of the insurance provider’s stock after acquiring an additional 108 shares during the quarter. Cullen Investment Group LTD.’s holdings in Allstate were worth $2,777,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. MRA Advisory Group acquired a new position in Allstate during the third quarter valued at $200,000. Park Avenue Securities LLC boosted its holdings in shares of Allstate by 16.5% during the third quarter. Park Avenue Securities LLC now owns 7,233 shares of the insurance provider’s stock worth $1,372,000 after purchasing an additional 1,024 shares during the period. Canandaigua National Bank & Trust Co. boosted its holdings in shares of Allstate by 10.6% during the third quarter. Canandaigua National Bank & Trust Co. now owns 9,271 shares of the insurance provider’s stock worth $1,758,000 after purchasing an additional 889 shares during the period. Czech National Bank grew its position in Allstate by 7.0% during the third quarter. Czech National Bank now owns 53,787 shares of the insurance provider’s stock valued at $10,201,000 after purchasing an additional 3,496 shares in the last quarter. Finally, Central Pacific Bank Trust Division increased its stake in Allstate by 97.6% in the 3rd quarter. Central Pacific Bank Trust Division now owns 10,526 shares of the insurance provider’s stock valued at $1,996,000 after buying an additional 5,200 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insider Buying and Selling

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the transaction, the insider now owns 27,364 shares of the company’s stock, valued at $5,236,922.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Suren Gupta sold 45,775 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $177.28, for a total value of $8,114,992.00. Following the sale, the insider now owns 89,930 shares of the company’s stock, valued at $15,942,790.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John E. Dugenske sold 36,367 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the transaction, the insider now directly owns 27,364 shares of the company’s stock, valued at $5,236,922.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 238,305 shares of company stock valued at $43,082,657 over the last three months. 1.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Roth Mkm reissued a “buy” rating and set a $200.00 target price on shares of Allstate in a research note on Wednesday, August 14th. BMO Capital Markets boosted their target price on Allstate from $191.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. The Goldman Sachs Group raised their price target on Allstate from $199.00 to $204.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. 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. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Allstate from $199.00 to $208.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $195.12.

Allstate Stock Performance

NYSE:ALL traded up $2.73 during mid-day trading on Friday, hitting $190.57. 704,734 shares of the company’s stock traded hands, compared to its average volume of 1,547,504. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49. The firm has a 50 day moving average of $183.18 and a two-hundred day moving average of $172.31. The firm has a market capitalization of $50.29 billion, a price-to-earnings ratio of 42.07, a price-to-earnings-growth ratio of 1.81 and a beta of 0.48. The Allstate Co. has a 12 month low of $110.74 and a 12 month high of $193.97.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $1.28. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The business had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.04 billion. During the same quarter in the previous year, the firm posted ($4.42) earnings per share. Allstate’s revenue was up 12.4% compared to the same quarter last year. On average, equities analysts forecast that The Allstate Co. will post 15.2 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, August 30th were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Friday, August 30th. Allstate’s payout ratio is presently 81.24%.

Allstate Profile

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.