Schafer Cullen Capital Management Inc Sells 220 Shares of Allstate Corp (NYSE:ALL)

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Schafer Cullen Capital Management Inc reduced its holdings in Allstate Corp (NYSE:ALL) by 0.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,977 shares of the insurance provider’s stock after selling 220 shares during the quarter. Schafer Cullen Capital Management Inc’s holdings in Allstate were worth $7,170,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of Allstate by 0.4% in the second quarter. BlackRock Inc. now owns 26,305,632 shares of the insurance provider’s stock worth $2,675,022,000 after buying an additional 109,997 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Allstate by 0.9% in the second quarter. Vanguard Group Inc. now owns 24,689,491 shares of the insurance provider’s stock worth $2,510,675,000 after buying an additional 228,584 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Allstate by 2.9% in the second quarter. AQR Capital Management LLC now owns 6,372,559 shares of the insurance provider’s stock worth $643,628,000 after buying an additional 178,988 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Allstate by 12.6% in the second quarter. Invesco Ltd. now owns 4,342,920 shares of the insurance provider’s stock worth $441,631,000 after buying an additional 486,897 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in shares of Allstate by 3.7% in the third quarter. California Public Employees Retirement System now owns 2,877,923 shares of the insurance provider’s stock worth $312,773,000 after buying an additional 103,623 shares during the last quarter. 77.05% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Susan L. Lees sold 27,650 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $108.30, for a total transaction of $2,994,495.00. Following the sale, the executive vice president now directly owns 53,165 shares in the company, valued at $5,757,769.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Croker Trevor purchased 44,975 shares of Allstate stock in a transaction dated Thursday, November 21st. The shares were purchased at an average price of $34.22 per share, for a total transaction of $1,539,044.50. 1.60% of the stock is currently owned by company insiders.

ALL has been the subject of several research analyst reports. Evercore ISI initiated coverage on shares of Allstate in a research note on Thursday, October 17th. They set an “in-line” rating and a $117.00 target price for the company. UBS Group increased their price objective on shares of Allstate from $110.00 to $112.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. ValuEngine cut shares of Allstate from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Barclays set a $125.00 price objective on shares of Allstate and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Buckingham Research upped their target price on shares of Allstate from $100.00 to $104.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $109.55.

Shares of NYSE:ALL traded up $0.70 during midday trading on Wednesday, hitting $110.14. The stock had a trading volume of 1,209,072 shares, compared to its average volume of 1,762,673. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.29. The business’s 50-day simple moving average is $108.92 and its 200-day simple moving average is $104.42. Allstate Corp has a 12 month low of $77.00 and a 12 month high of $112.64. The company has a market cap of $36.07 billion, a P/E ratio of 13.65, a PEG ratio of 1.33 and a beta of 0.81.

Allstate (NYSE:ALL) last released its quarterly earnings data on Tuesday, October 29th. The insurance provider reported $2.84 EPS for the quarter, topping the Zacks’ consensus estimate of $2.52 by $0.32. Allstate had a net margin of 6.57% and a return on equity of 13.83%. The firm had revenue of $10.87 billion during the quarter, compared to analysts’ expectations of $9.07 billion. During the same period in the previous year, the business posted $1.93 earnings per share. As a group, equities analysts predict that Allstate Corp will post 10.04 earnings per share for the current year.

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 dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend is Wednesday, November 27th. Allstate’s dividend payout ratio is currently 24.78%.

Allstate 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.

See Also: Short Selling

Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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