Panagora Asset Management Inc. Purchases 185,216 Shares of The Allstate Corporation $ALL

Panagora Asset Management Inc. grew its position in The Allstate Corporation (NYSE:ALL) by 76.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 426,595 shares of the insurance provider’s stock after purchasing an additional 185,216 shares during the period. Panagora Asset Management Inc.’s holdings in Allstate were worth $85,878,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arlington Trust Co LLC boosted its stake in shares of Allstate by 261.8% in the 2nd quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider’s stock worth $25,000 after buying an additional 89 shares during the last quarter. Clearstead Trust LLC increased its position in shares of Allstate by 3,800.0% during the second quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 152 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Allstate by 315.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 126 shares during the period. Hilltop National Bank purchased a new position in Allstate in the second quarter worth $34,000. Finally, Chilton Capital Management LLC purchased a new position in Allstate in the second quarter worth $38,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Allstate

In other news, insider Suren Gupta sold 21,871 shares of Allstate stock in a transaction on Friday, November 21st. The stock was sold at an average price of $215.21, for a total value of $4,706,857.91. Following the completion of the transaction, the insider directly owned 100,646 shares in the company, valued at approximately $21,660,025.66. The trade was a 17.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 24,271 shares of company stock valued at $5,222,986 over the last three months. 1.70% of the stock is owned by company insiders.

Allstate Price Performance

NYSE ALL opened at $213.39 on Monday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37. The company has a market cap of $55.84 billion, a PE ratio of 10.03, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $215.89. The firm’s 50-day simple moving average is $204.68 and its two-hundred day simple moving average is $202.45.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.48 by $5.69. The company had revenue of $17.26 billion for the quarter, compared to analyst estimates of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.91 earnings per share. Research analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be given a dividend of $1.00 per share. The ex-dividend date is Monday, December 1st. This represents a $4.00 annualized dividend and a dividend yield of 1.9%. Allstate’s dividend payout ratio is currently 12.95%.

Analysts Set New Price Targets

ALL has been the subject of several research analyst reports. Raymond James Financial reaffirmed a “strong-buy” rating and set a $260.00 target price (up from $250.00) on shares of Allstate in a research report on Monday, August 4th. JPMorgan Chase & Co. raised their price objective on shares of Allstate from $254.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. UBS Group lifted their price objective on shares of Allstate from $250.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Cantor Fitzgerald upgraded shares of Allstate to a “hold” rating in a research note on Wednesday, August 13th. Finally, Wells Fargo & Company raised their price target on shares of Allstate from $202.00 to $216.00 and gave the stock an “equal weight” rating in a research note on Friday, November 7th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $237.92.

Allstate Profile

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.