MML Investors Services LLC Grows Stake in The Allstate Co. (NYSE:ALL)

MML Investors Services LLC increased its holdings in shares of The Allstate Co. (NYSE:ALL) by 5.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,039 shares of the insurance provider’s stock after purchasing an additional 371 shares during the quarter. MML Investors Services LLC’s holdings in Allstate were worth $1,335,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Pathway Financial Advisers LLC grew its holdings in Allstate by 18,472.5% during 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 buying an additional 1,047,019 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Allstate by 18.7% during the 3rd 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 grew its holdings in Allstate by 181.6% during the 2nd quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock valued at $114,955,000 after buying an additional 464,337 shares in the last quarter. TimesSquare Capital Management LLC bought a new stake in shares of Allstate in the 3rd quarter valued at approximately $77,819,000. Finally, Acadian Asset Management LLC lifted its stake in shares of 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 purchasing an additional 405,553 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insider Activity

In other news, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction 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 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ALL shares. Raymond James raised their price objective on Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Friday, October 4th. BMO Capital Markets raised their price objective on Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Wells Fargo & Company raised their price objective on Allstate from $175.00 to $186.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group raised their price objective on Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Jefferies Financial Group raised their price objective on Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, November 8th. 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.19.

Allstate Trading Down 2.1 %

Shares of NYSE ALL opened at $189.25 on Thursday. 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 business has a fifty day simple moving average of $195.53 and a two-hundred day simple moving average of $181.99. The firm has a market cap of $50.11 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 1.70 and a beta of 0.50. The Allstate Co. has a twelve month low of $134.17 and a twelve month high of $209.88.

Allstate (NYSE:ALL) last issued its 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. The business had revenue of $16.63 billion during the quarter, compared to analyst estimates of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. Allstate’s revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 EPS. Analysts expect that The Allstate Co. will post 16.26 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. Stockholders of record on Friday, November 29th will be issued a $0.92 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.94%. Allstate’s dividend payout ratio 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.