M&T Bank Corp Sells 70,925 Shares of The Allstate Co. (NYSE:ALL)

M&T Bank Corp decreased its position in shares of The Allstate Co. (NYSE:ALL) by 92.2% during the third quarter, Holdings Channel.com reports. The fund owned 5,991 shares of the insurance provider’s stock after selling 70,925 shares during the quarter. M&T Bank Corp’s holdings in Allstate were worth $1,136,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in ALL. FSA Wealth Management LLC bought a new stake in shares of Allstate during the 3rd quarter valued at $26,000. Northwest Investment Counselors LLC bought a new position in Allstate in the 3rd quarter worth $28,000. Catalyst Capital Advisors LLC purchased a new stake in Allstate in the 3rd quarter worth $29,000. Family Firm Inc. bought a new stake in Allstate during the second quarter valued at about $38,000. Finally, Transamerica Financial Advisors Inc. purchased a new position in shares of Allstate in the third quarter valued at about $58,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

ALL has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their target price on Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Evercore ISI increased their price objective on shares of Allstate from $191.00 to $195.00 and gave the company an “in-line” rating in a report on Wednesday, October 9th. TD Cowen boosted their target price on shares of Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Wells Fargo & Company raised their target price on shares of Allstate from $175.00 to $186.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Finally, Bank of America boosted their price target on shares of Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Allstate has an average rating of “Moderate Buy” and an average target price of $217.19.

Insider Activity at Allstate

In related news, insider John E. Dugenske sold 36,367 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 27,364 shares in the company, valued at $5,236,922.32. The trade was a 57.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is currently owned by insiders.

Allstate Trading Up 2.1 %

Shares of NYSE ALL opened at $196.26 on Monday. The stock has a market capitalization of $51.97 billion, a P/E ratio of 12.71, a PEG ratio of 1.70 and a beta of 0.50. The Allstate Co. has a 1-year low of $134.17 and a 1-year high of $209.88. The business’s 50 day moving average is $194.95 and its two-hundred day moving average is $181.54. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, beating the consensus estimate of $2.20 by $1.71. The firm had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. 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 company posted $0.81 EPS. As a group, research analysts expect that The Allstate Co. will post 16.26 EPS for the current year.

Allstate Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 1.88%. Allstate’s dividend payout ratio (DPR) is presently 23.83%.

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.