The Allstate Co. (NYSE:ALL) Shares Bought by MML Investors Services LLC

MML Investors Services LLC boosted its holdings in shares of The Allstate Co. (NYSE:ALL) by 5.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,039 shares of the insurance provider’s stock after buying an additional 371 shares during the period. MML Investors Services LLC’s holdings in Allstate were worth $1,335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Eagle Asset Management Inc. increased its holdings in shares of Allstate by 38.0% in the third quarter. Eagle Asset Management Inc. now owns 10,497 shares of the insurance provider’s stock valued at $2,067,000 after purchasing an additional 2,888 shares during the period. Bank of Montreal Can increased its holdings in shares of Allstate by 1.7% in the third quarter. Bank of Montreal Can now owns 683,574 shares of the insurance provider’s stock valued at $128,758,000 after purchasing an additional 11,195 shares during the period. Blueshift Asset Management LLC acquired a new position in shares of Allstate in the third quarter valued at about $623,000. Hsbc Holdings PLC increased its holdings in shares of Allstate by 3.3% in the second quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider’s stock valued at $160,948,000 after purchasing an additional 31,789 shares during the period. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Allstate by 33.8% in the second quarter. Los Angeles Capital Management LLC now owns 58,381 shares of the insurance provider’s stock valued at $9,321,000 after purchasing an additional 14,741 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Allstate

In related news, insider John E. Dugenske sold 36,367 shares of the firm’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 completion of the sale, the insider now directly owns 27,364 shares in the company, valued at approximately $5,236,922.32. This trade represents a 57.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. UBS Group increased their price objective on Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a report on Monday, November 4th. Bank of America upped their target price on Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods upped their target price on Allstate from $222.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. StockNews.com downgraded Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. Finally, Wells Fargo & Company upped their target price on Allstate from $175.00 to $186.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Allstate has an average rating of “Moderate Buy” and a consensus price target of $217.19.

Allstate Stock Performance

NYSE ALL opened at $189.25 on Thursday. The company has a market cap of $50.11 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 1.70 and a beta of 0.50. The stock’s 50 day simple moving average is $195.53 and its 200-day simple moving average is $181.99. The Allstate Co. has a 1-year low of $134.17 and a 1-year high of $209.88. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40.

Allstate (NYSE:ALL) last released its earnings results 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. The business had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 earnings per share. As a group, equities research analysts anticipate that The Allstate Co. will post 16.26 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be given a $0.92 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.68 annualized dividend and a dividend yield of 1.94%. Allstate’s dividend payout ratio (DPR) is presently 23.83%.

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.