Desjardins Global Asset Management Inc. Reduces Position in The Allstate Co. (NYSE:ALL)

Desjardins Global Asset Management Inc. lessened its holdings in shares of The Allstate Co. (NYSE:ALL) by 86.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,369 shares of the insurance provider’s stock after selling 8,607 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Allstate were worth $192,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Saybrook Capital NC purchased a new stake in Allstate during the 4th quarter valued at about $208,000. SVB Wealth LLC grew its stake in Allstate by 1.2% during the 4th quarter. SVB Wealth LLC now owns 6,169 shares of the insurance provider’s stock valued at $864,000 after acquiring an additional 72 shares in the last quarter. Donaldson Capital Management LLC grew its stake in shares of Allstate by 0.6% in the 4th quarter. Donaldson Capital Management LLC now owns 418,810 shares of the insurance provider’s stock valued at $58,625,000 after buying an additional 2,440 shares during the period. Keel Point LLC purchased a new stake in shares of Allstate in the 4th quarter valued at approximately $291,000. Finally, Mackenzie Financial Corp grew its stake in shares of Allstate by 77.0% in the 4th quarter. Mackenzie Financial Corp now owns 227,400 shares of the insurance provider’s stock valued at $31,831,000 after buying an additional 98,914 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insider Activity at Allstate

In related news, insider John E. Dugenske sold 31,000 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total value of $5,276,200.00. Following the transaction, the insider now directly owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total value of $637,880.00. Following the transaction, the chief accounting officer now directly owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider John E. Dugenske sold 31,000 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the completion of the transaction, the insider now directly owns 63,731 shares in the company, valued at $10,847,016.20. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Allstate Price Performance

Shares of ALL opened at $169.12 on Friday. The Allstate Co. has a twelve month low of $100.57 and a twelve month high of $174.57. The firm’s fifty day simple moving average is $163.59 and its 200-day simple moving average is $146.60. The firm has a market capitalization of $44.49 billion, a price-to-earnings ratio of -136.39, a PEG ratio of 0.40 and a beta of 0.52. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.51.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Thursday, February 8th. The insurance provider reported $5.82 earnings per share for the quarter, beating analysts’ consensus estimates of $3.87 by $1.95. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The business had revenue of $14.83 billion for the quarter, compared to analyst estimates of $12.69 billion. During the same period last year, the business earned ($1.36) EPS. The company’s revenue was up 8.7% on a year-over-year basis. Equities analysts forecast that The Allstate Co. will post 13.5 EPS for the current fiscal year.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.18%. This is an increase from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Friday, March 1st. Allstate’s dividend payout ratio (DPR) is -296.77%.

Analysts Set New Price Targets

ALL has been the subject of several analyst reports. BMO Capital Markets increased their price target on shares of Allstate from $140.00 to $158.00 and gave the company a “market perform” rating in a research note on Friday, January 19th. Wells Fargo & Company increased their price objective on shares of Allstate from $145.00 to $146.00 and gave the stock an “underweight” rating in a research report on Thursday, April 11th. Morgan Stanley increased their price objective on shares of Allstate from $187.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday. Jefferies Financial Group raised shares of Allstate from a “hold” rating to a “buy” rating and increased their price objective for the stock from $130.00 to $180.00 in a research report on Tuesday, January 9th. Finally, The Goldman Sachs Group increased their price objective on shares of Allstate from $164.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $173.71.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.