DAVENPORT & Co LLC Buys 69,064 Shares of The Allstate Co. (NYSE:ALL)

DAVENPORT & Co LLC raised its stake in The Allstate Co. (NYSE:ALLFree Report) by 15.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 530,111 shares of the insurance provider’s stock after purchasing an additional 69,064 shares during the quarter. DAVENPORT & Co LLC’s holdings in Allstate were worth $74,164,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Regent Peak Wealth Advisors LLC purchased a new position in shares of Allstate during the fourth quarter valued at approximately $241,000. TriaGen Wealth Management LLC purchased a new position in shares of Allstate during the fourth quarter valued at approximately $270,000. One Plus One Wealth Management LLC purchased a new position in shares of Allstate during the fourth quarter valued at approximately $240,000. Horizon Wealth Management LLC purchased a new position in shares of Allstate during the fourth quarter valued at approximately $209,000. Finally, Harrell Investment Partners LLC increased its stake in shares of Allstate by 3.5% during the fourth quarter. Harrell Investment Partners LLC now owns 9,517 shares of the insurance provider’s stock valued at $1,332,000 after buying an additional 321 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Stock Performance

ALL stock traded down $0.03 during trading on Tuesday, reaching $172.54. The stock had a trading volume of 1,440,973 shares, compared to its average volume of 1,762,205. The Allstate Co. has a 52 week low of $100.57 and a 52 week high of $173.77. The stock’s 50 day moving average is $160.59 and its two-hundred day moving average is $141.95. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.51. The firm has a market cap of $45.39 billion, a PE ratio of -139.15, a PEG ratio of 0.45 and a beta of 0.52.

Allstate (NYSE:ALLGet Free Report) last posted its earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share for the quarter, beating analysts’ consensus estimates of $3.87 by $1.95. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. The company had revenue of $14.83 billion for the quarter, compared to the consensus estimate of $12.69 billion. During the same quarter in the prior year, the company earned ($1.36) earnings per share. Allstate’s revenue was up 8.7% on a year-over-year basis. As a group, equities analysts anticipate that The Allstate Co. will post 13.25 earnings per share for the current year.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were paid a $0.92 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $3.68 annualized dividend and a dividend yield of 2.13%. This is an increase from Allstate’s previous quarterly dividend of $0.89. Allstate’s dividend payout ratio (DPR) is -296.77%.

Insider Transactions at Allstate

In other news, insider John E. Dugenske sold 31,000 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total value of $5,276,200.00. Following the transaction, the insider now owns 63,731 shares of the company’s stock, valued at $10,847,016.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO John C. Pintozzi sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the transaction, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John E. Dugenske sold 31,000 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total value of $5,276,200.00. Following the sale, the insider now owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

ALL has been the topic of several recent research reports. Raymond James upped their price target on Allstate from $155.00 to $180.00 and gave the stock a “strong-buy” rating in a research note on Monday, January 22nd. HSBC raised Allstate from a “hold” rating to a “buy” rating and increased their target price for the stock from $158.00 to $190.00 in a research note on Thursday, March 28th. BMO Capital Markets increased their target price on Allstate from $140.00 to $158.00 and gave the stock a “market perform” rating in a research note on Friday, January 19th. Keefe, Bruyette & Woods increased their target price on Allstate from $171.00 to $181.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 14th. Finally, JPMorgan Chase & Co. upped their price target on Allstate from $164.00 to $172.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, two have assigned 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, Allstate has an average rating of “Moderate Buy” and a consensus target price of $168.69.

Get Our Latest Stock Report on Allstate

About Allstate

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding ALL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Allstate Co. (NYSE:ALLFree Report).

Institutional Ownership by Quarter for Allstate (NYSE:ALL)

Receive News & Ratings for Allstate Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allstate and related companies with MarketBeat.com's FREE daily email newsletter.