Schroder Investment Management Group Purchases 31,351 Shares of The Allstate Corporation $ALL

Key Points

• Schroder Investment Management Group increased its stake in Allstate by 42.3% in Q3, buying an additional 31,351 shares to hold 105,404 shares valued at about $22.63 million.
• Allstate reported a strong quarter (EPS of $14.31 vs. $8.72 estimate), raised its quarterly dividend to $1.08 (annualized $4.32, ~2.1% yield), and carries a MarketBeat consensus rating of "Moderate Buy" with a target of $238.88.

Schroder Investment Management Group lifted its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 42.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 105,404 shares of the insurance provider's stock after acquiring an additional 31,351 shares during the quarter. Schroder Investment Management Group's holdings in Allstate were worth $22,625,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Guerra Pan Advisors LLC boosted its holdings in Allstate by 1.5% in the second quarter. Guerra Pan Advisors LLC now owns 3,426 shares of the insurance provider's stock valued at $690,000 after acquiring an additional 49 shares during the last quarter. Focus Financial Network Inc. raised its holdings in Allstate by 1.1% during the 3rd quarter. Focus Financial Network Inc. now owns 4,693 shares of the insurance provider's stock worth $1,012,000 after purchasing an additional 52 shares during the last quarter. L2 Asset Management LLC raised its holdings in Allstate by 4.8% during the 2nd quarter. L2 Asset Management LLC now owns 1,168 shares of the insurance provider's stock worth $235,000 after purchasing an additional 53 shares during the last quarter. Howard Capital Management Inc. lifted its position in Allstate by 3.2% during the 3rd quarter. Howard Capital Management Inc. now owns 1,739 shares of the insurance provider's stock valued at $373,000 after purchasing an additional 54 shares during the period. Finally, D Orazio & Associates Inc. boosted its stake in shares of Allstate by 5.2% in the 2nd quarter. D Orazio & Associates Inc. now owns 1,115 shares of the insurance provider's stock valued at $224,000 after purchasing an additional 55 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on ALL. Raymond James Financial reissued a "strong-buy" rating and set a $260.00 price target on shares of Allstate in a research note on Tuesday, March 3rd. Roth Mkm lifted their target price on shares of Allstate from $230.00 to $240.00 and gave the stock a "buy" rating in a report on Wednesday, November 26th. Citigroup upped their target price on shares of Allstate from $216.00 to $221.00 and gave the company a "neutral" rating in a research report on Tuesday, February 10th. JPMorgan Chase & Co. increased their price target on Allstate from $260.00 to $263.00 and gave the company an "overweight" rating in a research note on Thursday, February 5th. Finally, Mizuho raised their price target on Allstate from $255.00 to $281.00 and gave the stock an "outperform" rating in a research report on Monday, February 9th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $238.88.

Insider Buying and Selling

In related news, insider Suren Gupta sold 19,593 shares of the company's stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total value of $4,114,530.00. Following the completion of the transaction, the insider directly owned 100,646 shares of the company's stock, valued at approximately $21,135,660. This represents a 16.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.70% of the company's stock.

Allstate Price Performance

Shares of ALL opened at $204.84 on Friday. The stock has a 50 day simple moving average of $204.47 and a 200 day simple moving average of $204.66. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $216.75. 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 firm has a market capitalization of $53.16 billion, a PE ratio of 5.36, a P/E/G ratio of 0.43 and a beta of 0.23.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Wednesday, February 4th. The insurance provider reported $14.31 EPS for the quarter, topping the consensus estimate of $8.72 by $5.59. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The firm had revenue of $17.35 billion for the quarter, compared to the consensus estimate of $17.23 billion. During the same period last year, the company posted $7.67 EPS. The business's quarterly revenue was up 5.1% on a year-over-year basis. Sell-side analysts predict that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be issued a dividend of $1.08 per share. The ex-dividend date is Monday, March 2nd. This is a positive change from Allstate's previous quarterly dividend of $1.00. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.1%. Allstate's dividend payout ratio (DPR) is 11.31%.

Allstate 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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