Meyer Handelman Co. Boosts Stock Position in The Allstate Co. (NYSE:ALL)

Meyer Handelman Co. grew its position in shares of The Allstate Co. (NYSE:ALL) by 1.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 177,611 shares of the insurance provider’s stock after purchasing an additional 3,101 shares during the period. Allstate makes up 1.2% of Meyer Handelman Co.’s portfolio, making the stock its 26th biggest holding. Meyer Handelman Co. owned about 0.07% of Allstate worth $34,242,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. LPL Financial LLC lifted its position in Allstate by 9.2% during the second quarter. LPL Financial LLC now owns 200,939 shares of the insurance provider’s stock valued at $32,082,000 after purchasing an additional 16,846 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of Allstate by 3.8% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 12,061 shares of the insurance provider’s stock worth $1,926,000 after acquiring an additional 440 shares during the last quarter. Wealthspire Advisors LLC grew its position in Allstate by 22.7% in the second quarter. Wealthspire Advisors LLC now owns 2,695 shares of the insurance provider’s stock worth $430,000 after acquiring an additional 498 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Allstate by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock worth $229,545,000 after acquiring an additional 47,038 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in Allstate in the second quarter valued at $3,083,000. Institutional investors own 76.47% of the company’s stock.

Allstate Trading Up 2.4 %

NYSE:ALL opened at $186.87 on Wednesday. The Allstate Co. has a 12 month low of $150.17 and a 12 month high of $209.88. The company has a 50 day simple moving average of $195.89 and a two-hundred day simple moving average of $186.07. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43. The company has a market cap of $49.48 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 1.70 and a beta of 0.52.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. The firm 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 company’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.81 EPS. Research analysts forecast 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 was paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Friday, November 29th. Allstate’s payout ratio is 23.83%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. The Goldman Sachs Group increased 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. Morgan Stanley boosted their price objective on shares of Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Wells Fargo & Company increased their target price on shares of Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Allstate from $235.00 to $243.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.13.

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.