The Manufacturers Life Insurance Company Sells 5,090 Shares of The Allstate Corporation $ALL

The Manufacturers Life Insurance Company lowered its stake in The Allstate Corporation (NYSE:ALL) by 2.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 196,819 shares of the insurance provider’s stock after selling 5,090 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.08% of Allstate worth $40,808,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ALL. Brighton Jones LLC increased its stake in shares of Allstate by 60.2% in the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock worth $1,253,000 after buying an additional 2,443 shares during the period. Revolve Wealth Partners LLC purchased a new stake in Allstate during the 4th quarter valued at $231,000. WINTON GROUP Ltd purchased a new stake in Allstate during the 2nd quarter valued at $210,000. Treasurer of the State of North Carolina grew its holdings in Allstate by 2.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 123,272 shares of the insurance provider’s stock worth $24,816,000 after acquiring an additional 3,051 shares during the last quarter. Finally, Ieq Capital LLC increased its position in shares of Allstate by 20.1% in the second quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider’s stock valued at $7,713,000 after acquiring an additional 6,412 shares during the period. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ALL shares. HSBC lowered shares of Allstate from a “buy” rating to a “hold” rating and increased their target price for the stock from $244.00 to $264.00 in a report on Monday, July 6th. Roth Capital restated a “buy” rating and set a $275.00 price target on shares of Allstate in a report on Friday, July 17th. Mizuho upped their price target on Allstate from $255.00 to $272.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Morgan Stanley increased their price objective on Allstate from $215.00 to $240.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. Finally, Atlantic Securities set a $319.00 target price on Allstate in a research note on Wednesday, July 15th. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $254.80.

Insider Activity

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the transaction, the insider owned 27,558 shares of the company’s stock, valued at approximately $5,959,968.66. This trade represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrea Redmond sold 2,225 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the sale, the director directly owned 2,225 shares in the company, valued at approximately $451,474.75. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.55% of the company’s stock.

Allstate Trading Down 3.3%

ALL opened at $265.22 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $277.22. The stock has a market cap of $68.27 billion, a PE ratio of 5.85, a PEG ratio of 0.47 and a beta of 0.16. The business has a 50 day moving average of $234.98 and a 200-day moving average of $217.73.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping the consensus estimate of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company had revenue of $16.94 billion for the quarter, compared to analysts’ expectations of $15.24 billion. During the same period in the prior year, the firm earned $3.53 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities research analysts predict that The Allstate Corporation will post 30.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be paid a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Monday, August 31st. Allstate’s dividend payout ratio (DPR) is presently 9.53%.

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.