M&T Bank Corp Has $5.16 Million Holdings in The Allstate Corporation $ALL

Key Points

• M&T Bank Corp reduced its position in The Allstate Corporation by 58.5% in Q4, selling 35,031 shares and ending the period with 24,802 shares valued at $5.16 million.
• Several large institutions materially increased or initiated positions — notably Robeco (now 869,139 shares), Dimensional Fund Advisors, Ameriprise, Woodline and Danske — leaving institutional and hedge funds owning 76.47% of Allstate.
• Allstate posted a strong Q4 beat (EPS $14.31 vs. $8.72 expected), raised its quarterly dividend to $1.08 (annualized $4.32, 2.0% yield), trades at a low PE of 5.58, and has an average analyst price target of $238.65.

M&T Bank Corp reduced its position in The Allstate Corporation (NYSE:ALL - Free Report) by 58.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,802 shares of the insurance provider's stock after selling 35,031 shares during the period. M&T Bank Corp's holdings in Allstate were worth $5,163,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. raised its holdings in Allstate by 1,766.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 869,139 shares of the insurance provider's stock valued at $180,911,000 after buying an additional 822,583 shares in the last quarter. Woodline Partners LP bought a new position in Allstate during the third quarter valued at about $148,641,000. Ameriprise Financial Inc. raised its holdings in Allstate by 52.7% during the second quarter. Ameriprise Financial Inc. now owns 1,385,901 shares of the insurance provider's stock valued at $279,062,000 after buying an additional 478,598 shares in the last quarter. Danske Bank A S bought a new position in Allstate during the third quarter valued at about $100,596,000. Finally, Dimensional Fund Advisors LP raised its holdings in Allstate by 18.2% during the third quarter. Dimensional Fund Advisors LP now owns 2,606,451 shares of the insurance provider's stock valued at $559,435,000 after buying an additional 401,700 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Price Performance

NYSE ALL opened at $213.15 on Friday. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $219.48. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a market capitalization of $55.04 billion, a PE ratio of 5.58, a P/E/G ratio of 0.44 and a beta of 0.22. The stock has a 50-day simple moving average of $209.79 and a 200 day simple moving average of $205.68.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, topping the consensus estimate of $8.72 by $5.59. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The business had revenue of $17.35 billion during the quarter, compared to analysts' expectations of $17.23 billion. During the same quarter in the previous year, the firm earned $7.67 EPS. The firm's revenue was up 5.1% compared to the same quarter last year. Research analysts anticipate that The Allstate Corporation will post 25.95 EPS for the current year.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 2nd were given a dividend of $1.08 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $4.32 annualized dividend and a dividend yield of 2.0%. This is a boost from Allstate's previous quarterly dividend of $1.00. Allstate's payout ratio is presently 11.31%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ALL shares. Raymond James Financial restated a "strong-buy" rating and set a $260.00 target price on shares of Allstate in a report on Tuesday, March 3rd. Citigroup raised their target price on Allstate from $216.00 to $221.00 and gave the company a "neutral" rating in a report on Tuesday, February 10th. Zacks Research lowered Allstate from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 7th. TD Cowen lowered Allstate from a "buy" rating to a "hold" rating in a report on Monday, January 12th. Finally, Mizuho cut their target price on Allstate from $281.00 to $265.00 and set an "outperform" rating on the stock in a report on Friday, March 20th. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Allstate has an average rating of "Moderate Buy" and an average price target of $238.65.

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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