Pictet Asset Management Holding SA Buys 10,501 Shares of The Allstate Corporation $ALL

Key Points

• Pictet Asset Management raised its stake in The Allstate Corporation by 2.8%, buying 10,501 shares to own 387,275 shares (about 0.15% of the company) valued at $80.61 million at quarter-end.
• Allstate posted a strong Q4 beat with EPS of $14.31 versus $8.72 expected and solid profitability (net margin 15.19%, ROE 39.20%); analysts' consensus is a Moderate Buy with an average target of $238.65.
• Allstate increased its quarterly dividend to $1.08 (annualized $4.32), implying a 2.0% yield and an 11.31% payout ratio.

Pictet Asset Management Holding SA raised its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 2.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 387,275 shares of the insurance provider's stock after buying an additional 10,501 shares during the period. Pictet Asset Management Holding SA owned about 0.15% of Allstate worth $80,613,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. increased its holdings in shares of Allstate by 79.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider's stock worth $27,000 after buying an additional 55 shares during the last quarter. Barnes Dennig Private Wealth Management LLC boosted its stake in shares of Allstate by 112.3% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider's stock valued at $30,000 after purchasing an additional 73 shares in the last quarter. Dorato Capital Management purchased a new stake in shares of Allstate in the 4th quarter valued at $27,000. Palisade Asset Management LLC purchased a new stake in shares of Allstate in the 3rd quarter valued at $31,000. Finally, Princeton Global Asset Management LLC boosted its stake in shares of Allstate by 101.3% in the 4th quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider's stock valued at $31,000 after purchasing an additional 76 shares in the last quarter. Institutional investors own 76.47% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ALL. Keefe, Bruyette & Woods upped their price objective on shares of Allstate from $254.00 to $260.00 and gave the company an "outperform" rating in a research note on Tuesday, February 10th. Mizuho cut their price objective on shares of Allstate from $281.00 to $265.00 and set an "outperform" rating for the company in a research note on Friday, March 20th. JPMorgan Chase & Co. upped their price objective on shares of Allstate from $260.00 to $263.00 and gave the company an "overweight" rating in a research note on Thursday, February 5th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $231.00 price objective on shares of Allstate in a research note on Thursday, March 5th. Finally, TD Cowen cut shares of Allstate from a "buy" rating to a "hold" rating in a research note on Monday, January 12th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $238.65.

Allstate Trading Up 1.0%

Shares of ALL opened at $216.36 on Wednesday. The stock has a market capitalization of $55.87 billion, a P/E ratio of 5.67, a PEG ratio of 0.44 and a beta of 0.22. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The firm has a fifty day simple moving average of $210.01 and a two-hundred day simple moving average of $205.75. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $219.48.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, beating the consensus estimate of $8.72 by $5.59. The business had revenue of $17.35 billion during the quarter, compared to analysts' expectations of $17.23 billion. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $7.67 EPS. On average, research analysts anticipate that The Allstate Corporation will post 25.82 EPS for the current year.

Allstate Increases Dividend

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

About Allstate

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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