Benin Management CORP reduced its position in Allstate Corp (NYSE:ALL) by 0.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 66,952 shares of the insurance provider’s stock after selling 550 shares during the quarter. Allstate makes up about 2.7% of Benin Management CORP’s investment portfolio, making the stock its 10th biggest holding. Benin Management CORP’s holdings in Allstate were worth $6,306,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund grew its holdings in shares of Allstate by 8,063.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,165,142 shares of the insurance provider’s stock valued at $38,000 after purchasing an additional 3,126,372 shares during the last quarter. Norges Bank acquired a new stake in Allstate in the fourth quarter worth approximately $189,048,000. Bank of Montreal Can lifted its position in Allstate by 65.3% in the fourth quarter. Bank of Montreal Can now owns 2,957,927 shares of the insurance provider’s stock worth $244,414,000 after purchasing an additional 1,168,707 shares during the period. Federated Investors Inc. PA lifted its position in Allstate by 120.9% in the third quarter. Federated Investors Inc. PA now owns 1,115,465 shares of the insurance provider’s stock worth $110,096,000 after purchasing an additional 610,526 shares during the period. Finally, California Public Employees Retirement System lifted its position in Allstate by 38.2% in the fourth quarter. California Public Employees Retirement System now owns 2,123,049 shares of the insurance provider’s stock worth $175,428,000 after purchasing an additional 586,566 shares during the period. 79.43% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:ALL traded down $0.76 on Wednesday, reaching $96.53. 61,782 shares of the company traded hands, compared to its average volume of 2,145,225. Allstate Corp has a fifty-two week low of $77.00 and a fifty-two week high of $102.73. The company has a market capitalization of $32.22 billion, a PE ratio of 11.95, a price-to-earnings-growth ratio of 1.27 and a beta of 0.82. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.27 and a current ratio of 0.27.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Thursday, February 28th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date was Wednesday, February 27th. This is an increase from Allstate’s previous quarterly dividend of $0.46. Allstate’s dividend payout ratio is 24.78%.
A number of equities research analysts have weighed in on the company. Credit Suisse Group downgraded Allstate from an “outperform” rating to a “neutral” rating and set a $93.00 target price for the company. in a research report on Monday, April 8th. Zacks Investment Research downgraded Allstate from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Wells Fargo & Co reiterated a “hold” rating and set a $94.00 price objective on shares of Allstate in a research report on Tuesday, March 12th. William Blair upgraded Allstate from an “underperform” rating to a “market perform” rating in a research report on Wednesday, February 6th. Finally, ValuEngine upgraded Allstate from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $101.50.
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Allstate Company Profile
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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