Parnassus Investments LLC Has $46.91 Million Stock Position in The Allstate Corporation $ALL

Parnassus Investments LLC lessened its position in shares of The Allstate Corporation (NYSE:ALL) by 3.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 218,526 shares of the insurance provider’s stock after selling 8,519 shares during the quarter. Parnassus Investments LLC owned about 0.08% of Allstate worth $46,907,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Avantax Advisory Services Inc. raised its stake in shares of Allstate by 3.1% in the 2nd quarter. Avantax Advisory Services Inc. now owns 23,573 shares of the insurance provider’s stock valued at $4,745,000 after purchasing an additional 704 shares during the period. Knights of Columbus Asset Advisors LLC lifted its stake in Allstate by 3.8% in the second quarter. Knights of Columbus Asset Advisors LLC now owns 53,802 shares of the insurance provider’s stock valued at $10,831,000 after acquiring an additional 1,959 shares during the last quarter. Commonwealth Retirement Investments LLC increased its position in Allstate by 103.5% during the second quarter. Commonwealth Retirement Investments LLC now owns 12,960 shares of the insurance provider’s stock worth $2,609,000 after buying an additional 6,590 shares during the last quarter. McGowan Group Asset Management Inc. raised its stake in Allstate by 1,020.8% in the 2nd quarter. McGowan Group Asset Management Inc. now owns 34,666 shares of the insurance provider’s stock valued at $6,979,000 after acquiring an additional 31,573 shares during the period. Finally, Advisors Capital Management LLC acquired a new stake in shares of Allstate during the 1st quarter worth about $301,000. Institutional investors own 76.47% of the company’s stock.

Insider Activity at Allstate

In related news, insider Suren Gupta sold 21,871 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $215.21, for a total transaction of $4,706,857.91. Following the completion of the sale, the insider directly owned 100,646 shares in the company, valued at approximately $21,660,025.66. This trade represents a 17.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 48,400 shares of company stock worth $10,313,256 over the last ninety days. 1.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on ALL. Mizuho began coverage on shares of Allstate in a research report on Monday, December 15th. They set an “outperform” rating and a $254.00 price target on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Allstate in a research report on Wednesday, October 8th. William Blair cut Allstate from an “outperform” rating to a “market perform” rating in a report on Thursday, December 18th. UBS Group raised their target price on Allstate from $250.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Finally, Zacks Research lowered Allstate from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.00.

Allstate Price Performance

Shares of Allstate stock opened at $212.34 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.32. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $215.89. The business has a 50 day moving average of $207.34 and a 200 day moving average of $203.27. The company has a market cap of $55.56 billion, a PE ratio of 6.87, a P/E/G ratio of 0.47 and a beta of 0.24.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.48 by $5.69. Allstate had a return on equity of 35.42% and a net margin of 12.53%.The business had revenue of $17.26 billion for the quarter, compared to analysts’ expectations of $16.59 billion. During the same period in the prior year, the firm earned $3.91 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities research analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.9%. Allstate’s dividend payout ratio is presently 12.95%.

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.