Burleson & Company LLC Takes $35,000 Position in The Allstate Co. (NYSE:ALL)

Burleson & Company LLC acquired a new position in The Allstate Co. (NYSE:ALL) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 302 shares of the insurance provider’s stock, valued at approximately $35,000.

A number of other hedge funds have also recently modified their holdings of the business. Usca Ria LLC increased its position in shares of The Allstate by 584.9% during the first quarter. Usca Ria LLC now owns 47,243 shares of the insurance provider’s stock worth $5,428,000 after acquiring an additional 40,345 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of The Allstate by 1.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 15,708 shares of the insurance provider’s stock valued at $1,727,000 after purchasing an additional 168 shares in the last quarter. Westpac Banking Corp boosted its stake in shares of The Allstate by 10.0% during the 4th quarter. Westpac Banking Corp now owns 137,602 shares of the insurance provider’s stock valued at $15,127,000 after buying an additional 12,475 shares during the last quarter. M&T Bank Corp grew its position in shares of The Allstate by 3.9% during the fourth quarter. M&T Bank Corp now owns 170,466 shares of the insurance provider’s stock worth $18,739,000 after buying an additional 6,357 shares in the last quarter. Finally, Independence Bank of Kentucky increased its stake in shares of The Allstate by 8.7% in the first quarter. Independence Bank of Kentucky now owns 15,850 shares of the insurance provider’s stock worth $1,821,000 after buying an additional 1,270 shares during the last quarter. Hedge funds and other institutional investors own 74.69% of the company’s stock.

Several research analysts have weighed in on ALL shares. Barclays raised their price objective on shares of The Allstate from $135.00 to $141.00 and gave the stock an “overweight” rating in a report on Friday, May 7th. Keefe, Bruyette & Woods lowered The Allstate from an “outperform” rating to a “market perform” rating in a report on Thursday, February 11th. JPMorgan Chase & Co. upped their price objective on The Allstate from $130.00 to $134.00 and gave the company an “overweight” rating in a research note on Thursday, May 6th. They noted that the move was a valuation call. Mizuho reiterated a “buy” rating on shares of The Allstate in a research report on Monday, April 26th. Finally, Morgan Stanley upped their price target on The Allstate from $128.00 to $140.00 and gave the company an “equal weight” rating in a research report on Thursday, May 27th. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $132.38.

In related news, CFO Mario Rizzo sold 12,763 shares of the firm’s stock in a transaction that occurred on Monday, May 10th. The shares were sold at an average price of $133.26, for a total transaction of $1,700,797.38. Following the transaction, the chief financial officer now owns 49,490 shares in the company, valued at $6,595,037.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John E. Dugenske sold 151,691 shares of the company’s stock in a transaction that occurred on Monday, May 10th. The stock was sold at an average price of $135.28, for a total value of $20,520,758.48. Following the completion of the sale, the insider now owns 118,444 shares of the company’s stock, valued at $16,023,104.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 227,111 shares of company stock worth $30,694,662. Company insiders own 1.56% of the company’s stock.

The Allstate stock opened at $131.41 on Friday. The firm’s 50-day moving average price is $129.31. The Allstate Co. has a 52-week low of $84.97 and a 52-week high of $140.00. The firm has a market cap of $39.34 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 1.16 and a beta of 0.85. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.47 and a quick ratio of 0.47.

The Allstate (NYSE:ALL) last issued its quarterly earnings data on Tuesday, May 4th. The insurance provider reported $6.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.88 by $2.23. The business had revenue of $10.31 billion during the quarter, compared to the consensus estimate of $10.37 billion. The Allstate had a return on equity of 21.16% and a net margin of 7.73%. The business’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.54 earnings per share. Research analysts anticipate that The Allstate Co. will post 15.53 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 1st. Stockholders of record on Friday, June 4th will be issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Thursday, June 3rd. The Allstate’s dividend payout ratio (DPR) is 22.00%.

The Allstate Profile

The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Protection Services, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home and stand-alone scheduled personal property; and commercial lines products under the Allstate and Encompass brand names.

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Institutional Ownership by Quarter for The Allstate (NYSE:ALL)

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