The Allstate Corporation $ALL Shares Acquired by Bank of Montreal Can

Key Points

• Bank of Montreal Can increased its stake in Allstate by 15.5% in Q3 to 493,111 shares (about 0.19% of the company), valued at roughly $105.85 million.
• Allstate reported a strong quarter, beating estimates with $14.31 EPS vs $8.72 expected and revenue of $17.35 billion, while posting a 15.19% net margin and 39.2% return on equity.
• Allstate raised its quarterly dividend to $1.08 per share (annualized $4.32), up from $1.00, implying a yield of about 2.1%.

Bank of Montreal Can lifted its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 15.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 493,111 shares of the insurance provider's stock after purchasing an additional 66,097 shares during the period. Bank of Montreal Can owned about 0.19% of Allstate worth $105,846,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ALL. Guerra Pan Advisors LLC raised its holdings in shares of Allstate by 1.5% during 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. boosted its stake in shares of Allstate by 1.1% in the third quarter. Focus Financial Network Inc. now owns 4,693 shares of the insurance provider's stock worth $1,012,000 after acquiring an additional 52 shares during the last quarter. L2 Asset Management LLC increased its position in shares of Allstate by 4.8% during the second 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 in the last quarter. Howard Capital Management Inc. increased its position in shares of Allstate by 3.2% during the third quarter. Howard Capital Management Inc. now owns 1,739 shares of the insurance provider's stock worth $373,000 after purchasing an additional 54 shares in the last quarter. Finally, D Orazio & Associates Inc. raised its stake in 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. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Stock Down 1.0%

NYSE ALL opened at $205.46 on Thursday. The business's fifty day simple moving average is $204.54 and its 200-day simple moving average is $204.66. 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 market cap of $53.33 billion, a PE ratio of 5.38, a P/E/G ratio of 0.43 and a beta of 0.23. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $216.75.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $8.72 by $5.59. The firm had revenue of $17.35 billion during the quarter, compared to analyst estimates of $17.23 billion. Allstate had a net margin of 15.19% and a return on equity of 39.20%. Allstate's quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $7.67 earnings per share. As a group, equities analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders 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 represents a $4.32 dividend on an annualized basis and a dividend yield of 2.1%. This is a boost from Allstate's previous quarterly dividend of $1.00. Allstate's dividend payout ratio (DPR) is currently 11.31%.

Analysts Set New Price Targets

Several brokerages have issued reports on ALL. Morgan Stanley reaffirmed an "equal weight" rating and set a $215.00 target price (down from $245.00) on shares of Allstate in a research note on Tuesday, December 16th. Roth Mkm increased their target price on shares of Allstate from $230.00 to $240.00 and gave the company a "buy" rating in a research report on Wednesday, November 26th. William Blair downgraded shares of Allstate from an "outperform" rating to a "market perform" rating in a research note on Thursday, December 18th. Raymond James Financial restated a "strong-buy" rating and set a $260.00 price target on shares of Allstate in a research report on Tuesday, March 3rd. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $231.00 price objective on shares of Allstate in a research note on Thursday, March 5th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $238.88.

Insider Buying and Selling at Allstate

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

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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