Cerity Partners LLC Grows Stock Holdings in The Allstate Co. (NYSE:ALL)

Cerity Partners LLC raised its stake in The Allstate Co. (NYSE:ALL) by 29.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,549 shares of the insurance provider’s stock after buying an additional 9,336 shares during the period. Cerity Partners LLC’s holdings in Allstate were worth $7,694,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Pathway Financial Advisers LLC increased its stake in Allstate by 18,472.5% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock valued at $199,642,000 after purchasing an additional 1,047,019 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Allstate by 18.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock valued at $569,114,000 after buying an additional 472,040 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Allstate by 181.6% during the 2nd quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock worth $114,955,000 after buying an additional 464,337 shares during the last quarter. TimesSquare Capital Management LLC purchased a new stake in shares of Allstate in the 3rd quarter worth about $77,819,000. Finally, Acadian Asset Management LLC grew its stake in Allstate by 3,839.0% in the 2nd quarter. Acadian Asset Management LLC now owns 416,117 shares of the insurance provider’s stock valued at $66,417,000 after acquiring an additional 405,553 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on ALL shares. JPMorgan Chase & Co. increased their price target on shares of Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Jefferies Financial Group increased their target price on Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a report on Friday, November 8th. StockNews.com downgraded Allstate from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 21st. Bank of America lifted their price objective on Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Raymond James upped their target price on shares of Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $217.19.

Allstate Stock Performance

Shares of NYSE:ALL opened at $208.19 on Thursday. The firm has a market capitalization of $55.13 billion, a PE ratio of 13.48, a P/E/G ratio of 1.80 and a beta of 0.48. The Allstate Co. has a 12 month low of $134.17 and a 12 month high of $209.88. 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 business has a 50-day moving average of $192.34 and a two-hundred day moving average of $178.57.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The firm had revenue of $16.63 billion for the quarter, compared to analysts’ expectations of $14.57 billion. During the same period in the previous year, the company posted $0.81 earnings per share. Allstate’s revenue was up 14.7% compared to the same quarter last year. As a group, research analysts forecast that The Allstate Co. will post 16.07 earnings per share for the current year.

Allstate Dividend Announcement

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 $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 is currently 23.83%.

Insider Buying and Selling at Allstate

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the transaction, the insider now owns 27,364 shares in the company, valued at $5,236,922.32. This represents a 57.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

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.