TLP Group LLC cut its position in Allstate Corp (NYSE:ALL) by 8.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,499 shares of the insurance provider’s stock after selling 622 shares during the quarter. Allstate accounts for 2.2% of TLP Group LLC’s holdings, making the stock its 10th largest holding. TLP Group LLC’s holdings in Allstate were worth $602,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of ALL. Oregon Public Employees Retirement Fund grew its stake in shares of Allstate by 8,063.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,165,142 shares of the insurance provider’s stock valued at $38,000 after buying an additional 3,126,372 shares in the last quarter. BlackRock Inc. grew its stake in shares of Allstate by 10.6% in the third quarter. BlackRock Inc. now owns 27,138,023 shares of the insurance provider’s stock valued at $2,678,525,000 after buying an additional 2,608,827 shares in the last quarter. Man Group plc grew its stake in shares of Allstate by 121.3% in the third quarter. Man Group plc now owns 2,391,444 shares of the insurance provider’s stock valued at $236,035,000 after buying an additional 1,310,781 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Allstate by 65.3% in the fourth quarter. Bank of Montreal Can now owns 2,957,927 shares of the insurance provider’s stock valued at $244,414,000 after buying an additional 1,168,707 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Allstate by 70.5% in the third quarter. Deutsche Bank AG now owns 2,305,880 shares of the insurance provider’s stock valued at $227,584,000 after buying an additional 953,082 shares in the last quarter. 78.82% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently issued reports on ALL. Wells Fargo & Co reiterated a “hold” rating and issued a $94.00 target price on shares of Allstate in a report on Tuesday, March 12th. Zacks Investment Research upgraded Allstate from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a report on Thursday, February 7th. William Blair upgraded Allstate from an “underperform” rating to a “market perform” rating in a report on Wednesday, February 6th. Argus decreased their target price on Allstate from $115.00 to $106.00 and set a “buy” rating for the company in a report on Wednesday, November 28th. Finally, ValuEngine upgraded Allstate from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $100.73.
Allstate (NYSE:ALL) last released its earnings results on Tuesday, February 5th. The insurance provider reported $1.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.23. The firm had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.66 billion. Allstate had a return on equity of 14.00% and a net margin of 5.66%. Allstate’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the business posted $2.09 earnings per share. Equities research analysts predict that Allstate Corp will post 9.28 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Thursday, February 28th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.11%. This is an increase from Allstate’s previous quarterly dividend of $0.46. The ex-dividend date is Wednesday, February 27th. Allstate’s payout ratio is 24.78%.
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The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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