MQS Management LLC Raises Holdings in The Allstate Co. (NYSE:ALL)

MQS Management LLC lifted its holdings in The Allstate Co. (NYSE:ALL) by 56.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,540 shares of the insurance provider’s stock after purchasing an additional 1,278 shares during the quarter. MQS Management LLC’s holdings in Allstate were worth $565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of ALL. Bank of New York Mellon Corp boosted its holdings in shares of Allstate by 1.8% during the 1st quarter. Bank of New York Mellon Corp now owns 5,112,468 shares of the insurance provider’s stock valued at $884,508,000 after acquiring an additional 90,390 shares during the last quarter. Norges Bank bought a new position in Allstate during the fourth quarter valued at approximately $212,771,000. Dimensional Fund Advisors LP boosted its holdings in Allstate by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock worth $229,545,000 after purchasing an additional 47,038 shares during the last quarter. Hsbc Holdings PLC grew its position in Allstate by 3.3% in the 2nd quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider’s stock worth $160,948,000 after purchasing an additional 31,789 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its stake in Allstate by 1.0% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 818,489 shares of the insurance provider’s stock valued at $130,680,000 after buying an additional 8,454 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Price Performance

NYSE:ALL opened at $190.99 on Thursday. The stock has a market cap of $50.41 billion, a PE ratio of 42.16, a P/E/G ratio of 1.74 and a beta of 0.48. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49. The business’s 50-day simple moving average is $178.30 and its two-hundred day simple moving average is $169.79. The Allstate Co. has a 52 week low of $109.01 and a 52 week high of $191.56.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $1.28. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The company had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $14.04 billion. During the same quarter last year, the company earned ($4.42) EPS. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. As a group, analysts forecast that The Allstate Co. will post 15.16 EPS for the current fiscal year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be given a dividend of $0.92 per share. The ex-dividend date is Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.93%. Allstate’s dividend payout ratio is 81.24%.

Insider Activity at Allstate

In other Allstate news, EVP Robert Toohey sold 16,682 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $180.17, for a total value of $3,005,595.94. Following the sale, the executive vice president now owns 4,873 shares in the company, valued at approximately $877,968.41. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Robert Toohey sold 16,682 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the sale, the executive vice president now directly owns 4,873 shares of the company’s stock, valued at approximately $877,968.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas J. Wilson sold 90,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total value of $16,140,600.00. Following the transaction, the chief executive officer now owns 88,552 shares of the company’s stock, valued at $15,880,915.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 201,938 shares of company stock valued at $36,122,740. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group raised their price target on Allstate from $199.00 to $204.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. BMO Capital Markets boosted their price target on Allstate from $191.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Barclays began coverage on shares of Allstate in a research report on Wednesday, September 4th. They set an “underweight” rating and a $175.00 price target for the company. JPMorgan Chase & Co. raised their price objective on shares of Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $200.00 target price on shares of Allstate in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $192.76.

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.