M&T Bank Corp Decreases Position in The Allstate Co. (NYSE:ALL)

M&T Bank Corp reduced its stake in shares of The Allstate Co. (NYSE:ALL) by 6.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 72,137 shares of the insurance provider’s stock after selling 4,779 shares during the quarter. M&T Bank Corp’s holdings in Allstate were worth $13,681,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALL. Rehmann Capital Advisory Group raised its stake in shares of Allstate by 6.4% during the third quarter. Rehmann Capital Advisory Group now owns 1,582 shares of the insurance provider’s stock valued at $300,000 after purchasing an additional 95 shares during the period. Toronto Dominion Bank grew its holdings in Allstate by 1.4% during the 3rd quarter. Toronto Dominion Bank now owns 130,898 shares of the insurance provider’s stock valued at $24,825,000 after purchasing an additional 1,787 shares in the last quarter. Coldstream Capital Management Inc. grew its holdings in Allstate by 138.0% during the 3rd quarter. Coldstream Capital Management Inc. now owns 8,180 shares of the insurance provider’s stock valued at $1,555,000 after purchasing an additional 4,743 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Allstate by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 6,228,581 shares of the insurance provider’s stock worth $1,178,164,000 after buying an additional 74,537 shares in the last quarter. Finally, LRI Investments LLC boosted its position in Allstate by 334.8% in the 3rd quarter. LRI Investments LLC now owns 17,388 shares of the insurance provider’s stock valued at $3,298,000 after buying an additional 13,389 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Stock Performance

ALL stock opened at $193.56 on Friday. The Allstate Co. has a 1 year low of $134.17 and a 1 year high of $209.88. The stock has a market capitalization of $51.26 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 1.70 and a beta of 0.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40. The stock’s fifty day moving average is $195.72 and its two-hundred day moving average is $182.38.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, beating the consensus estimate of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The firm had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $14.57 billion. During the same period last year, the firm posted $0.81 EPS. Allstate’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, research analysts predict that The Allstate Co. will post 16.26 EPS for the current year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be given a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Friday, November 29th. Allstate’s dividend payout ratio is currently 23.83%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Piper Sandler lifted their target price on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Raymond James lifted their price objective on Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Friday, October 4th. Barclays increased their target price on Allstate from $175.00 to $187.00 and gave the company an “underweight” rating in a research note on Thursday, October 31st. TD Cowen upped their price target on shares of Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, The Goldman Sachs Group increased their price objective on shares of Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $217.19.

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.