The Manufacturers Life Insurance Company Purchases 66,483 Shares of The Allstate Co. (NYSE:ALL)

The Manufacturers Life Insurance Company boosted its position in The Allstate Co. (NYSE:ALL) by 32.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 269,708 shares of the insurance provider’s stock after acquiring an additional 66,483 shares during the quarter. The Manufacturers Life Insurance Company owned 0.10% of Allstate worth $51,150,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ALL. Northwest Investment Counselors LLC bought a new position in Allstate in the third quarter valued at $28,000. Catalyst Capital Advisors LLC bought a new position in Allstate in the third quarter valued at $29,000. Versant Capital Management Inc increased its stake in Allstate by 70.9% in the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 78 shares during the last quarter. Family Firm Inc. purchased a new stake in Allstate during the second quarter valued at about $38,000. Finally, MCF Advisors LLC boosted its position in Allstate by 33.9% during the second quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after buying an additional 84 shares during the period. Institutional investors own 76.47% of the company’s stock.

Insiders Place Their Bets

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the transaction, the insider now owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. This trade represents a 57.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ALL. TD Cowen upped their price target on shares of Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Roth Mkm restated a “buy” rating and set a $200.00 price target on shares of Allstate in a research report on Wednesday, August 14th. Piper Sandler upped their price target on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research report on Tuesday. Jefferies Financial Group upped their price target on shares of Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, The Goldman Sachs Group upped their price target on shares of Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and a consensus target price of $217.19.

Allstate Stock Performance

Shares of ALL opened at $208.20 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40. The Allstate Co. has a one year low of $134.17 and a one year high of $209.88. The company has a 50-day simple moving average of $192.69 and a two-hundred day simple moving average of $178.77. The firm has a market capitalization of $55.13 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 1.80 and a beta of 0.48.

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

Allstate Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, November 29th. This represents a $3.68 annualized dividend and a yield of 1.77%. Allstate’s dividend payout ratio (DPR) is presently 23.83%.

About Allstate

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.