The Manufacturers Life Insurance Company Increases Position in The Allstate Co. (NYSE:ALL)

The Manufacturers Life Insurance Company lifted its holdings in shares of The Allstate Co. (NYSE:ALL) by 20.6% in the second quarter, HoldingsChannel.com reports. The fund owned 203,225 shares of the insurance provider’s stock after acquiring an additional 34,702 shares during the period. The Manufacturers Life Insurance Company’s holdings in Allstate were worth $32,447,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of ALL. Rise Advisors LLC purchased a new stake in shares of Allstate during the 1st quarter valued at $26,000. Northwest Investment Counselors LLC bought a new position in Allstate during the first quarter valued at about $26,000. Versant Capital Management Inc increased its holdings in Allstate by 70.9% during the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after buying an additional 78 shares during the last quarter. Family Firm Inc. bought a new stake in Allstate in the second quarter worth about $38,000. Finally, MCF Advisors LLC boosted its stake in Allstate by 33.9% in the second quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after acquiring an additional 84 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ALL has been the subject of several research analyst reports. Barclays began coverage on shares of Allstate in a research note on Wednesday, September 4th. They set an “underweight” rating and a $175.00 price target for the company. Bank of America raised their target price on Allstate from $213.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. TD Cowen upped their price target on Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Roth Mkm reissued a “buy” rating and issued a $200.00 price objective on shares of Allstate in a report on Wednesday, August 14th. Finally, BMO Capital Markets upped their price objective on shares of Allstate from $191.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $192.76.

Insiders Place Their Bets

In other news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction 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 sale, the insider now owns 27,364 shares in the company, valued at approximately $5,236,922.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Robert Toohey sold 16,682 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the transaction, the executive vice president now directly owns 4,873 shares in the company, valued at approximately $877,968.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John E. Dugenske sold 36,367 shares of the business’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 sale, the insider now owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. The disclosure for this sale can be found here. Insiders sold a total of 238,305 shares of company stock valued at $43,082,657 in the last quarter. Corporate insiders own 1.80% of the company’s stock.

Allstate Trading Up 0.7 %

Allstate stock opened at $189.65 on Tuesday. The stock has a market cap of $50.05 billion, a P/E ratio of 41.87, a PEG ratio of 1.81 and a beta of 0.48. The Allstate Co. has a fifty-two week low of $109.01 and a fifty-two week high of $193.97. The firm’s fifty day moving average price is $181.62 and its 200-day moving average price is $171.69. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share for the quarter, beating the consensus estimate of $0.33 by $1.28. The firm had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The company’s revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($4.42) EPS. Equities research 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 will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be given a dividend of $0.92 per share. The ex-dividend date is Friday, August 30th. This represents a $3.68 annualized dividend and a yield of 1.94%. Allstate’s payout ratio is presently 81.24%.

Allstate Company 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.