Scotia Capital Inc. grew its holdings in shares of Allstate Corp (NYSE:ALL) by 35.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,159 shares of the insurance provider’s stock after acquiring an additional 1,081 shares during the quarter. Scotia Capital Inc.’s holdings in Allstate were worth $436,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Koch Industries Inc. purchased a new stake in shares of Allstate during the 4th quarter valued at about $792,000. Caisse DE Depot ET Placement DU Quebec raised its position in Allstate by 639.1% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 629,460 shares of the insurance provider’s stock worth $65,911,000 after purchasing an additional 544,300 shares during the period. Truewealth LLC purchased a new stake in Allstate in the 4th quarter worth about $159,000. Invictus RG raised its position in Allstate by 19.7% in the 4th quarter. Invictus RG now owns 3,842 shares of the insurance provider’s stock worth $402,000 after purchasing an additional 631 shares during the period. Finally, ETRADE Capital Management LLC raised its position in Allstate by 3.8% in the 4th quarter. ETRADE Capital Management LLC now owns 40,341 shares of the insurance provider’s stock worth $4,224,000 after purchasing an additional 1,495 shares during the period. Hedge funds and other institutional investors own 75.88% of the company’s stock.
A number of analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Allstate from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Argus reissued a “buy” rating and issued a $110.00 price objective on shares of Allstate in a research report on Wednesday, February 21st. Morgan Stanley reissued an “equal weight” rating and issued a $105.00 price objective (down from $113.00) on shares of Allstate in a research report on Wednesday, February 21st. Citigroup reduced their price objective on shares of Allstate from $118.00 to $111.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Finally, Deutsche Bank reduced their price objective on shares of Allstate from $102.00 to $100.00 and set a “hold” rating on the stock in a research report on Friday, February 9th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. Allstate presently has an average rating of “Hold” and an average price target of $99.00.
Allstate (NYSE:ALL) last issued its earnings results on Wednesday, February 7th. The insurance provider reported $2.09 EPS for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.56. The business had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.09 billion. Allstate had a net margin of 8.28% and a return on equity of 12.57%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $2.17 earnings per share. research analysts anticipate that Allstate Corp will post 8.32 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 5th will be given a dividend of $0.46 per share. The ex-dividend date is Friday, March 2nd. This is a positive change from Allstate’s previous quarterly dividend of $0.37. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.94%. Allstate’s dividend payout ratio (DPR) is 21.98%.
The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.
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