Kovitz Investment Group Partners LLC Raises Stake in The Allstate Co. (NYSE:ALL)

Kovitz Investment Group Partners LLC grew its position in The Allstate Co. (NYSE:ALLFree Report) by 17.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,940 shares of the insurance provider’s stock after acquiring an additional 3,390 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Allstate were worth $2,556,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Allstate in the third quarter valued at $25,000. First Capital Advisors Group LLC. purchased a new stake in shares of Allstate in the second quarter valued at $29,000. Cowa LLC purchased a new stake in shares of Allstate in the first quarter valued at $30,000. RVW Wealth LLC purchased a new stake in shares of Allstate in the third quarter valued at $33,000. Finally, Chilton Capital Management LLC purchased a new stake in shares of Allstate in the first quarter valued at $33,000. Hedge funds and other institutional investors own 77.23% of the company’s stock.

Allstate Stock Down 1.1 %

NYSE:ALL opened at $160.03 on Friday. The Allstate Co. has a fifty-two week low of $100.57 and a fifty-two week high of $168.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.35 and a current ratio of 0.38. The company’s 50-day simple moving average is $147.72 and its 200-day simple moving average is $128.34.

Allstate (NYSE:ALLGet Free Report) last released its quarterly earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share for the quarter, beating analysts’ consensus estimates of $3.87 by $1.95. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The business had revenue of $14.83 billion for the quarter, compared to analysts’ expectations of $12.69 billion. During the same period last year, the business earned ($1.36) EPS. The company’s revenue was up 8.7% compared to the same quarter last year. On average, equities analysts forecast that The Allstate Co. will post 12.7 EPS for the current year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Thursday, November 30th were issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend was Wednesday, November 29th. Allstate’s dividend payout ratio is currently -287.10%.

Insider Activity

In related news, EVP Mark Q. Prindiville sold 10,951 shares of Allstate stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $135.43, for a total value of $1,483,093.93. Following the completion of the sale, the executive vice president now directly owns 18,677 shares in the company, valued at approximately $2,529,426.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $134.79, for a total value of $539,160.00. Following the completion of the sale, the chief accounting officer now directly owns 13,711 shares in the company, valued at approximately $1,848,105.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Q. Prindiville sold 10,951 shares of Allstate stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $135.43, for a total transaction of $1,483,093.93. Following the sale, the executive vice president now owns 18,677 shares of the company’s stock, valued at $2,529,426.11. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. The Goldman Sachs Group raised their price target on shares of Allstate from $141.00 to $164.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. UBS Group raised their price target on shares of Allstate from $160.00 to $171.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Wells Fargo & Company raised their price target on shares of Allstate from $112.00 to $145.00 and gave the stock an “underweight” rating in a research note on Friday. TheStreet raised shares of Allstate from a “c+” rating to a “b” rating in a research note on Wednesday. Finally, Morgan Stanley raised shares of Allstate from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $117.00 to $171.00 in a research note on Thursday, January 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $156.88.

Read Our Latest Stock Report on ALL

Allstate Company Profile

(Free Report)

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; other personal lines products; and commercial lines products under the Allstate and Encompass brand names.

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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