Intech Investment Management LLC Buys 148,269 Shares of The Allstate Corporation $ALL

Key Points

• Intech Investment Management boosted its Allstate stake by 438% in the fourth quarter, buying 148,269 shares and bringing its total holding to 182,124 shares worth about $37.9 million.
• Allstate beat earnings expectations in its latest quarter, reporting $10.65 EPS versus the $7.31 estimate and revenue of $16.94 billion, up 3% from a year earlier.
• The company also declared a quarterly dividend of $1.08 per share, while analysts maintain a consensus Moderate Buy rating with an average price target of $241.67.

Intech Investment Management LLC lifted its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 438.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 182,124 shares of the insurance provider's stock after purchasing an additional 148,269 shares during the quarter. Intech Investment Management LLC owned about 0.07% of Allstate worth $37,909,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in ALL. South Plains Financial Inc. lifted its position in Allstate by 41.5% in the 3rd quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider's stock valued at $36,000 after acquiring an additional 49 shares in the last quarter. Coldstream Capital Management Inc. lifted its position in Allstate by 0.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider's stock valued at $1,625,000 after acquiring an additional 50 shares in the last quarter. Humankind Investments LLC lifted its position in Allstate by 4.5% in the 3rd quarter. Humankind Investments LLC now owns 1,191 shares of the insurance provider's stock valued at $256,000 after acquiring an additional 51 shares in the last quarter. Cullen Frost Bankers Inc. lifted its position in Allstate by 0.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider's stock valued at $1,210,000 after acquiring an additional 52 shares in the last quarter. Finally, Howard Capital Management Inc. lifted its position in Allstate by 3.2% in the 3rd quarter. Howard Capital Management Inc. now owns 1,739 shares of the insurance provider's stock valued at $373,000 after acquiring an additional 54 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

Allstate Price Performance

NYSE ALL opened at $207.46 on Friday. The business's fifty day moving average price is $212.66 and its 200-day moving average price is $208.57. The stock has a market capitalization of $53.40 billion, a price-to-earnings ratio of 4.58, a PEG ratio of 0.38 and a beta of 0.21. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $227.62.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating the consensus estimate of $7.31 by $3.34. The firm had revenue of $16.94 billion for the quarter, compared to analysts' expectations of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company's revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.53 EPS. On average, equities analysts predict that The Allstate Corporation will post 29.11 earnings per share for the current year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, June 1st. Allstate's dividend payout ratio is presently 9.53%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wells Fargo & Company upped their price objective on Allstate from $229.00 to $243.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 6th. Barclays upped their price objective on Allstate from $207.00 to $208.00 and gave the company an "underweight" rating in a research report on Wednesday, April 8th. JPMorgan Chase & Co. upped their price objective on Allstate from $260.00 to $263.00 and gave the company an "overweight" rating in a research report on Thursday, February 5th. Mizuho lowered their price objective on Allstate from $281.00 to $265.00 and set an "outperform" rating on the stock in a research report on Friday, March 20th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $260.00 price objective on shares of Allstate in a research report on Tuesday, March 3rd. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $241.67.

Insider Buying and Selling at Allstate

In other news, insider Mark Q. Prindiville sold 1,550 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the transaction, the insider directly owned 27,558 shares of the company's stock, valued at $5,959,968.66. This represents a 5.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Mario Rizzo sold 18,578 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total value of $4,064,866.40. Following the transaction, the chief operating officer directly owned 82,227 shares in the company, valued at $17,991,267.60. The trade was a 18.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.55% of the stock is owned by corporate insiders.

Allstate Company Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.

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