Creekmur Asset Management LLC Takes Position in The Allstate Co. (NYSE:ALL)

Creekmur Asset Management LLC purchased a new stake in The Allstate Co. (NYSE:ALL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 613 shares of the insurance provider’s stock, valued at approximately $86,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Allstate by 11.5% in the 3rd quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock valued at $3,595,266,000 after acquiring an additional 3,322,673 shares in the last quarter. Norges Bank bought a new stake in Allstate in the 4th quarter valued at $212,771,000. Invesco Ltd. lifted its position in Allstate by 46.6% in the 3rd quarter. Invesco Ltd. now owns 4,121,941 shares of the insurance provider’s stock valued at $459,225,000 after acquiring an additional 1,311,095 shares in the last quarter. Palestra Capital Management LLC bought a new stake in Allstate in the 4th quarter valued at $83,561,000. Finally, Balyasny Asset Management L.P. bought a new stake in Allstate during the 4th quarter worth about $81,571,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insiders Place Their Bets

In other Allstate news, insider John E. Dugenske sold 31,000 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the transaction, the insider now owns 63,731 shares in the company, valued at approximately $10,847,016.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.80% of the company’s stock.

Allstate Stock Performance

ALL traded down $3.76 on Friday, reaching $157.07. The company had a trading volume of 1,986,593 shares, compared to its average volume of 1,246,395. The Allstate Co. has a fifty-two week low of $100.57 and a fifty-two week high of $177.37. The stock has a market cap of $41.45 billion, a P/E ratio of 34.67, a P/E/G ratio of 1.48 and a beta of 0.50. The company’s fifty day moving average is $167.35 and its 200 day moving average is $158.59. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 EPS for the quarter, beating analysts’ consensus estimates of $4.11 by $1.02. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The business had revenue of $15.26 billion for the quarter, compared to analyst estimates of $12.76 billion. During the same quarter in the prior year, the business earned ($1.30) EPS. Allstate’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, analysts predict that The Allstate Co. will post 15.13 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, May 31st will be given a dividend of $0.92 per share. The ex-dividend date is Friday, May 31st. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.34%. Allstate’s payout ratio is presently 81.24%.

Wall Street Analyst Weigh In

ALL has been the topic of several analyst reports. Wells Fargo & Company boosted their price target on shares of Allstate from $146.00 to $153.00 and gave the stock an “underweight” rating in a research report on Friday, May 10th. Roth Mkm boosted their price target on shares of Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Keefe, Bruyette & Woods boosted their price target on shares of Allstate from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. HSBC raised shares of Allstate from a “hold” rating to a “buy” rating and boosted their price target for the stock from $158.00 to $190.00 in a research report on Thursday, March 28th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Allstate from $185.00 to $193.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $174.59.

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.