Qube Research & Technologies Ltd Sells 324,270 Shares of The Allstate Co. (NYSE:ALL)

Qube Research & Technologies Ltd decreased its holdings in The Allstate Co. (NYSE:ALLFree Report) by 82.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 69,599 shares of the insurance provider’s stock after selling 324,270 shares during the quarter. Qube Research & Technologies Ltd’s holdings in Allstate were worth $7,754,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its position in shares of Allstate by 123.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,540,295 shares of the insurance provider’s stock worth $751,264,000 after buying an additional 3,064,105 shares in the last quarter. Cowa LLC purchased a new stake in shares of Allstate during the 1st quarter worth approximately $30,000. Norges Bank purchased a new stake in shares of Allstate during the 4th quarter worth approximately $190,865,000. Invesco Ltd. increased its stake in shares of Allstate by 46.6% during the 3rd quarter. Invesco Ltd. now owns 4,121,941 shares of the insurance provider’s stock worth $459,225,000 after purchasing an additional 1,311,095 shares during the last quarter. Finally, Morgan Stanley increased its stake in shares of Allstate by 29.0% during the 4th quarter. Morgan Stanley now owns 3,563,628 shares of the insurance provider’s stock worth $483,228,000 after purchasing an additional 800,665 shares during the last quarter. Institutional investors own 77.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ALL. UBS Group raised their price target on shares of Allstate from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. HSBC initiated coverage on shares of Allstate in a research note on Thursday, December 28th. They issued a “hold” rating and a $145.00 price objective for the company. The Goldman Sachs Group lifted their price objective on shares of Allstate from $141.00 to $164.00 and gave the company a “buy” rating in a research note on Tuesday, January 9th. Raymond James lifted their price objective on shares of Allstate from $155.00 to $180.00 and gave the company a “strong-buy” rating in a research note on Monday, January 22nd. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Allstate from $171.00 to $181.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $159.12.

Read Our Latest Report on Allstate

Insider Buying and Selling

In related news, CAO John C. Pintozzi sold 4,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total value of $637,880.00. Following the completion of the sale, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is owned by insiders.

Allstate Stock Up 0.8 %

Shares of NYSE ALL opened at $156.38 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.37 and a current ratio of 0.37. The Allstate Co. has a 12 month low of $100.57 and a 12 month high of $168.05. The company has a 50 day simple moving average of $154.25 and a two-hundred day simple moving average of $134.04.

Allstate (NYSE:ALLGet Free Report) last posted its earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $14.83 billion during the quarter, compared to analysts’ expectations of $12.69 billion. During the same period in the previous year, the business posted ($1.36) EPS. The business’s revenue was up 8.7% compared to the same quarter last year. As a group, research analysts expect that The Allstate Co. will post 12.94 earnings per share for the current year.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 4th will be paid a $0.92 dividend. This is a boost from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Friday, March 1st. Allstate’s payout ratio is currently -296.77%.

About Allstate

(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.

See Also

Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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