D.A. Davidson & CO. Boosts Stock Position in The Allstate Co. (NYSE:ALL)

D.A. Davidson & CO. lifted its holdings in The Allstate Co. (NYSE:ALL) by 61.5% in the third quarter, HoldingsChannel reports. The firm owned 23,584 shares of the insurance provider’s stock after purchasing an additional 8,983 shares during the quarter. D.A. Davidson & CO.’s holdings in Allstate were worth $4,473,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Northwest Investment Counselors LLC bought a new stake in Allstate in the third quarter worth $28,000. Catalyst Capital Advisors LLC bought a new stake in Allstate in the third quarter worth $29,000. Versant Capital Management Inc lifted its position in Allstate by 70.9% in the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after buying an additional 78 shares during the last quarter. Family Firm Inc. bought a new stake in Allstate in the second quarter worth $38,000. Finally, MCF Advisors LLC lifted its position in Allstate by 33.9% in the second quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock worth $53,000 after buying an additional 84 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Price Performance

Shares of ALL stock opened at $208.20 on Friday. The Allstate Co. has a fifty-two week low of $134.17 and a fifty-two week high of $209.88. The firm has a market capitalization of $55.13 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 1.80 and a beta of 0.48. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40. The stock’s 50-day simple moving average is $192.69 and its 200-day simple moving average is $178.77.

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

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be paid a dividend of $0.92 per share. 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 1.77%. Allstate’s payout ratio is 23.83%.

Insider Buying and Selling

In related news, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the sale, the insider now owns 27,364 shares of the company’s stock, valued at $5,236,922.32. The trade was a 57.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ALL shares. TD Cowen lifted their target price on Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Bank of America lifted their target price on Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Evercore ISI lifted their target price on Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 9th. Raymond James lifted their target price on Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 4th. Finally, Barclays lifted their target price on Allstate from $175.00 to $187.00 and gave the stock an “underweight” rating in a research report on Thursday, October 31st. One 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Allstate has a consensus rating of “Moderate Buy” and a consensus target price of $217.19.

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.