Geode Capital Management LLC Increases Stake in The Allstate Co. (NYSE:ALL)

Geode Capital Management LLC boosted its stake in The Allstate Co. (NYSE:ALL) by 1.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,228,581 shares of the insurance provider’s stock after buying an additional 74,537 shares during the quarter. Geode Capital Management LLC’s holdings in Allstate were worth $1,178,164,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. FSA Wealth Management LLC purchased a new position in shares of Allstate in the 3rd quarter valued at approximately $26,000. Northwest Investment Counselors LLC purchased a new position in Allstate during the third quarter valued at $28,000. Catalyst Capital Advisors LLC purchased a new position in Allstate during the third quarter valued at $29,000. Family Firm Inc. bought a new stake in shares of Allstate during the 2nd quarter valued at $38,000. Finally, MCF Advisors LLC grew its position in shares of Allstate by 33.9% in the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock worth $53,000 after buying an additional 84 shares during the period. 76.47% of the stock is owned by institutional investors.

Allstate Stock Performance

Shares of ALL stock opened at $195.06 on Wednesday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. The company has a 50 day moving average price of $194.59 and a 200-day moving average price of $180.71. The Allstate Co. has a 52 week low of $134.17 and a 52 week high of $209.88. The firm has a market capitalization of $51.65 billion, a PE ratio of 12.63, a P/E/G ratio of 1.79 and a beta of 0.50.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. The business had revenue of $16.63 billion during the quarter, compared to the consensus estimate of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The firm’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.81 EPS. As a group, equities research analysts expect that The Allstate Co. will post 16.26 earnings per share for the current year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Friday, November 29th. Allstate’s dividend payout ratio is 23.83%.

Analyst Ratings Changes

ALL has been the topic of several research reports. BMO Capital Markets boosted their price objective on shares of Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. The Goldman Sachs Group boosted their price target on Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Evercore ISI raised their price objective on Allstate from $191.00 to $195.00 and gave the company an “in-line” rating in a research report on Wednesday, October 9th. Piper Sandler boosted their target price on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, Roth Mkm restated a “buy” rating and set a $200.00 price target on shares of Allstate in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and a consensus target price of $217.19.

Insiders Place Their Bets

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the transaction, the insider now directly owns 27,364 shares in the company, valued at approximately $5,236,922.32. This trade represents a 57.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.