Atalanta Sosnoff Capital LLC lowered its holdings in Allstate Corp (NYSE:ALL) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 668,182 shares of the insurance provider’s stock after selling 5,851 shares during the period. Allstate comprises 2.2% of Atalanta Sosnoff Capital LLC’s portfolio, making the stock its 11th largest position. Atalanta Sosnoff Capital LLC owned 0.21% of Allstate worth $75,137,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Cordasco Financial Network lifted its holdings in Allstate by 360.8% during the 4th quarter. Cordasco Financial Network now owns 235 shares of the insurance provider’s stock worth $26,000 after buying an additional 184 shares during the last quarter. Candriam Luxembourg S.C.A. lifted its holdings in Allstate by 19.1% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 231,261 shares of the insurance provider’s stock worth $27,000 after buying an additional 37,143 shares during the last quarter. McIlrath & Eck LLC bought a new position in Allstate during the 3rd quarter worth approximately $27,000. Manchester Financial Inc. bought a new position in Allstate during the 4th quarter worth approximately $27,000. Finally, Mechanics Bank Trust Department bought a new position in Allstate during the 3rd quarter worth approximately $32,000. 76.80% of the stock is owned by hedge funds and other institutional investors.
In other Allstate news, insider Croker Trevor bought 44,975 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were purchased at an average cost of $34.22 per share, for a total transaction of $1,539,044.50. 1.60% of the stock is owned by company insiders.
Allstate (NYSE:ALL) last announced its quarterly earnings results on Tuesday, October 29th. The insurance provider reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.32. The business had revenue of $10.87 billion for the quarter, compared to analysts’ expectations of $9.07 billion. Allstate had a return on equity of 13.83% and a net margin of 6.57%. During the same period in the prior year, the firm earned $1.93 EPS. As a group, sell-side analysts forecast that Allstate Corp will post 10.43 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, November 29th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.69%. The ex-dividend date was Wednesday, November 27th. Allstate’s dividend payout ratio is currently 24.78%.
ALL has been the topic of a number of research analyst reports. Evercore ISI reaffirmed a “hold” rating and set a $117.00 target price on shares of Allstate in a report on Sunday, December 22nd. UBS Group increased their price target on Allstate from $110.00 to $112.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Zacks Investment Research upgraded Allstate from a “sell” rating to a “hold” rating and set a $124.00 price target on the stock in a research report on Monday. MKM Partners increased their price target on Allstate to and gave the stock a “buy” rating in a research report on Friday, January 17th. Finally, Citigroup started coverage on Allstate in a research report on Tuesday. They set a “buy” rating and a $135.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $115.42.
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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