Tocqueville Asset Management L.P. Invests $29.40 Million in The Allstate Corporation $ALL

Tocqueville Asset Management L.P. bought a new stake in shares of The Allstate Corporation (NYSE:ALL) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 123,570 shares of the insurance provider’s stock, valued at approximately $29,402,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MV Capital Management Inc. bought a new position in Allstate during the fourth quarter worth about $25,000. Gables Capital Management Inc. acquired a new stake in Allstate during the second quarter valued at approximately $26,000. Navalign LLC bought a new stake in shares of Allstate in the 4th quarter valued at approximately $27,000. Kelleher Financial Advisors acquired a new position in shares of Allstate in the 2nd quarter worth approximately $28,000. Finally, Evolution Wealth Management Inc. raised its holdings in shares of Allstate by 7,000.0% in the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after buying an additional 140 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

Allstate Stock Down 0.3%

NYSE:ALL opened at $260.24 on Thursday. The stock’s fifty day moving average price is $249.00 and its two-hundred day moving average price is $224.35. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $277.22. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market cap of $65.80 billion, a price-to-earnings ratio of 5.20, a P/E/G ratio of 0.40 and a beta of 0.16.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, beating the consensus estimate of $6.06 by $2.93. The company had revenue of $15.43 billion during the quarter, compared to analysts’ expectations of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period last year, the firm earned $5.94 EPS. On average, analysts anticipate that The Allstate Corporation will post 34.5 EPS for the current year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate’s dividend payout ratio (DPR) is presently 8.63%.

Insider Transactions at Allstate

In other Allstate news, Director Andrea Redmond sold 2,225 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following the completion of the sale, the director directly owned 2,225 shares of the company’s stock, valued at approximately $451,474.75. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John E. Dugenske sold 32,996 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the transaction, the insider owned 13,054 shares in the company, valued at approximately $3,515,833.82. The trade was a 71.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 92,996 shares of company stock valued at $24,543,894 in the last three months. Company insiders own 1.55% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Citigroup lowered Allstate from a “neutral” rating to a “sell” rating and boosted their price target for the company from $226.00 to $240.00 in a research note on Tuesday, August 11th. Wells Fargo & Company lowered Allstate from an “equal weight” rating to an “underweight” rating and increased their price objective for the stock from $243.00 to $250.00 in a research note on Friday, August 7th. JPMorgan Chase & Co. lifted their price objective on Allstate from $282.00 to $292.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Wall Street Zen upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research note on Monday, July 20th. Finally, Mizuho upped their target price on shares of Allstate from $255.00 to $272.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Four investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Allstate has a consensus rating of “Hold” and a consensus target price of $265.53.

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.