S Harris Financial Group LLC Purchases New Position in The Allstate Corporation $ALL

S Harris Financial Group LLC bought a new position in The Allstate Corporation (NYSE:ALL) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 7,093 shares of the insurance provider’s stock, valued at approximately $1,476,000. Allstate makes up approximately 1.4% of S Harris Financial Group LLC’s portfolio, making the stock its 13th largest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. CIBC Bancorp USA Inc. bought a new position in Allstate during the third quarter valued at approximately $7,814,000. Elo Mutual Pension Insurance Co grew its position in Allstate by 39.6% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 40,298 shares of the insurance provider’s stock worth $8,650,000 after purchasing an additional 11,431 shares during the period. Mezzasalma Advisors LLC raised its stake in Allstate by 58.6% during the 4th quarter. Mezzasalma Advisors LLC now owns 23,918 shares of the insurance provider’s stock valued at $4,875,000 after buying an additional 8,837 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Allstate by 5.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552,120 shares of the insurance provider’s stock valued at $112,533,000 after buying an additional 26,586 shares during the last quarter. Finally, AIA Group Ltd lifted its holdings in shares of Allstate by 479.8% during the 3rd quarter. AIA Group Ltd now owns 13,190 shares of the insurance provider’s stock valued at $2,831,000 after buying an additional 10,915 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on ALL. The Goldman Sachs Group restated a “neutral” rating and issued a $231.00 price target on shares of Allstate in a research report on Thursday, March 5th. Raymond James Financial reiterated a “strong-buy” rating and set a $260.00 price objective on shares of Allstate in a research note on Tuesday, March 3rd. Wall Street Zen lowered shares of Allstate from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Mizuho decreased their target price on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating on the stock in a research note on Friday, March 20th. Finally, Keefe, Bruyette & Woods downgraded shares of Allstate from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $266.00 to $242.00 in a report on Monday, June 8th. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $240.33.

Allstate Stock Down 0.2%

Shares of ALL opened at $220.72 on Friday. The stock has a market capitalization of $56.82 billion, a price-to-earnings ratio of 4.87, a price-to-earnings-growth ratio of 0.40 and a beta of 0.18. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $227.62. The business’s 50 day simple moving average is $215.95 and its 200-day simple moving average is $209.23. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The firm had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the previous year, the firm posted $3.53 EPS. The business’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, equities analysts expect that The Allstate Corporation will post 29.43 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, June 1st. Allstate’s dividend payout ratio (DPR) is currently 9.53%.

Insider Activity at Allstate

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the sale, the insider owned 27,558 shares in the company, valued at $5,959,968.66. This trade represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Mario Rizzo sold 18,578 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares in the company, valued at $17,991,267.60. This represents a 18.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 22,353 shares of company stock worth $4,851,560 in the last quarter. 1.55% of the stock is owned by company insiders.

Allstate Company 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.