IFM Investors Pty Ltd grew its stake in shares of Allstate Corp (NYSE:ALL) by 12.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,608 shares of the insurance provider’s stock after acquiring an additional 2,414 shares during the quarter. IFM Investors Pty Ltd’s holdings in Allstate were worth $2,129,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Banco Santander S.A. increased its stake in shares of Allstate by 1.0% during the 4th quarter. Banco Santander S.A. now owns 11,803 shares of the insurance provider’s stock valued at $975,000 after acquiring an additional 116 shares during the last quarter. Adviser Investments LLC increased its position in Allstate by 5.0% during the 4th quarter. Adviser Investments LLC now owns 2,447 shares of the insurance provider’s stock worth $202,000 after purchasing an additional 117 shares in the last quarter. Flagship Harbor Advisors LLC increased its position in Allstate by 3.7% during the 4th quarter. Flagship Harbor Advisors LLC now owns 3,799 shares of the insurance provider’s stock worth $313,000 after purchasing an additional 137 shares in the last quarter. JOYN Advisors Inc. increased its position in Allstate by 23.9% during the 4th quarter. JOYN Advisors Inc. now owns 715 shares of the insurance provider’s stock worth $59,000 after purchasing an additional 138 shares in the last quarter. Finally, Pflug Koory LLC increased its position in Allstate by 1.4% during the 4th quarter. Pflug Koory LLC now owns 10,840 shares of the insurance provider’s stock worth $896,000 after purchasing an additional 145 shares in the last quarter. 79.43% of the stock is owned by institutional investors.
ALL stock opened at $96.72 on Friday. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.33. The company has a market cap of $32.20 billion, a P/E ratio of 11.99, a PEG ratio of 1.25 and a beta of 0.82. Allstate Corp has a 12-month low of $77.00 and a 12-month high of $102.73.
The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Thursday, February 28th were given a dividend of $0.50 per share. This is a positive change from Allstate’s previous quarterly dividend of $0.46. This represents a $2.00 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Wednesday, February 27th. Allstate’s dividend payout ratio is currently 24.78%.
A number of research firms have weighed in on ALL. Credit Suisse Group cut Allstate from an “outperform” rating to a “neutral” rating and set a $93.00 price target for the company. in a report on Monday, April 8th. Zacks Investment Research cut Allstate from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Wells Fargo & Co reiterated a “hold” rating and set a $94.00 target price on shares of Allstate in a research note on Tuesday, March 12th. William Blair upgraded Allstate from an “underperform” rating to a “market perform” rating in a research note on Wednesday, February 6th. Finally, ValuEngine upgraded Allstate from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Allstate currently has an average rating of “Hold” and an average target price of $101.50.
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, Service Businesses, 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 insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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