Glenmede Trust Co. NA Acquires 5,911 Shares of The Allstate Co. (NYSE:ALL)

Glenmede Trust Co. NA boosted its holdings in shares of The Allstate Co. (NYSE:ALL) by 5.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 108,869 shares of the insurance provider’s stock after buying an additional 5,911 shares during the quarter. Glenmede Trust Co. NA’s holdings in Allstate were worth $20,647,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new stake in shares of Allstate during the 3rd quarter valued at $28,000. Catalyst Capital Advisors LLC purchased a new stake in Allstate in the third quarter worth about $29,000. Versant Capital Management Inc lifted its position in shares of Allstate by 70.9% during the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after buying an additional 78 shares in the last quarter. Family Firm Inc. bought a new position in shares of Allstate during the 2nd quarter valued at approximately $38,000. Finally, MCF Advisors LLC raised its stake in Allstate by 33.9% during the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock worth $53,000 after acquiring an additional 84 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ALL has been the subject of a number of analyst reports. Roth Mkm reissued a “buy” rating and issued a $200.00 price objective on shares of Allstate in a research note on Wednesday, August 14th. Piper Sandler increased their price target on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research note on Tuesday. Evercore ISI boosted 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. BMO Capital Markets increased their target price on Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Finally, TD Cowen boosted their price target on Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Allstate presently has an average rating of “Moderate Buy” and a consensus target price of $217.19.

Insiders Place Their Bets

In other news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now owns 27,364 shares in the company, valued at approximately $5,236,922.32. This trade represents a 57.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is owned by insiders.

Allstate Stock Performance

Shares of NYSE:ALL opened at $208.19 on Thursday. The firm has a fifty day simple moving average of $192.34 and a two-hundred day simple moving average of $178.57. 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 stock has a market capitalization of $55.13 billion, a P/E ratio of 13.48, a PEG ratio of 1.80 and a beta of 0.48. The Allstate Co. has a 52 week low of $134.17 and a 52 week high of $209.88.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, topping the consensus estimate of $2.20 by $1.71. The company had revenue of $16.63 billion for the quarter, compared to analysts’ expectations of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.81 earnings per share. On average, analysts expect that The Allstate Co. will post 16.07 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be issued a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.68 annualized dividend and a yield of 1.77%. Allstate’s payout ratio is presently 23.83%.

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.