The Allstate Co. (NYSE:ALL) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its stake in shares of The Allstate Co. (NYSE:ALL) by 77.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 227,400 shares of the insurance provider’s stock after buying an additional 98,914 shares during the period. Mackenzie Financial Corp owned 0.09% of Allstate worth $31,831,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Gradient Investments LLC increased its holdings in Allstate by 1.6% during the 4th quarter. Gradient Investments LLC now owns 4,130 shares of the insurance provider’s stock worth $578,000 after purchasing an additional 66 shares during the period. Apollon Wealth Management LLC increased its holdings in Allstate by 2.5% during the 4th quarter. Apollon Wealth Management LLC now owns 3,214 shares of the insurance provider’s stock worth $436,000 after purchasing an additional 78 shares during the period. AdvisorNet Financial Inc increased its holdings in Allstate by 1.5% during the 4th quarter. AdvisorNet Financial Inc now owns 5,384 shares of the insurance provider’s stock worth $754,000 after purchasing an additional 82 shares during the period. Carmel Capital Partners LLC increased its holdings in Allstate by 19.2% during the 3rd quarter. Carmel Capital Partners LLC now owns 516 shares of the insurance provider’s stock worth $57,000 after purchasing an additional 83 shares during the period. Finally, Ballentine Partners LLC increased its holdings in Allstate by 0.8% during the 3rd quarter. Ballentine Partners LLC now owns 11,320 shares of the insurance provider’s stock worth $1,261,000 after purchasing an additional 89 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Price Performance

ALL stock opened at $162.92 on Thursday. The stock has a 50-day moving average price of $163.44 and a two-hundred day moving average price of $146.44. The Allstate Co. has a 12-month low of $100.57 and a 12-month high of $174.57. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.51. The company has a market cap of $42.86 billion, a PE ratio of -131.39, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.87 by $1.95. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. The firm had revenue of $14.83 billion during the quarter, compared to the consensus estimate of $12.69 billion. During the same quarter in the previous year, the business earned ($1.36) earnings per share. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, research analysts predict that The Allstate Co. will post 13.41 EPS for the current year.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were given a $0.92 dividend. This is an increase from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Friday, March 1st. This represents a $3.68 annualized dividend and a dividend yield of 2.26%. Allstate’s dividend payout ratio is presently -296.77%.

Wall Street Analysts Forecast Growth

ALL has been the subject of a number of research analyst reports. BMO Capital Markets upped their target price on Allstate from $140.00 to $158.00 and gave the company a “market perform” rating in a research report on Friday, January 19th. Roth Mkm increased their price objective on Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. HSBC raised Allstate from a “hold” rating to a “buy” rating and raised their price target for the company from $158.00 to $190.00 in a report on Thursday, March 28th. Morgan Stanley raised their price target on Allstate from $187.00 to $190.00 and gave the company an “overweight” rating in a report on Monday. Finally, Raymond James raised their price target on Allstate from $155.00 to $180.00 and gave the company a “strong-buy” rating in a report on Monday, January 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.71.

Insider Transactions at Allstate

In other news, CAO John C. Pintozzi sold 4,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the completion of the sale, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider John E. Dugenske sold 31,000 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the sale, the insider now directly owns 63,731 shares in the company, valued at approximately $10,847,016.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the sale, the chief accounting officer now owns 10,736 shares in the company, valued at $1,712,069.92. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Allstate Company 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.