Harvest Fund Management Co. Ltd Raises Position in The Allstate Co. (NYSE:ALL)

Harvest Fund Management Co. Ltd boosted its stake in The Allstate Co. (NYSE:ALL) by 66.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,572 shares of the insurance provider’s stock after buying an additional 1,831 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Allstate were worth $867,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ALL. Northwest Investment Counselors LLC purchased a new stake in Allstate in the third quarter worth about $28,000. Catalyst Capital Advisors LLC purchased a new position in shares of Allstate during the third quarter valued at approximately $29,000. Versant Capital Management Inc lifted its holdings in shares of Allstate by 70.9% during the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 78 shares during the last quarter. Family Firm Inc. purchased a new position in shares of Allstate during the second quarter valued at approximately $38,000. Finally, MCF Advisors LLC lifted its holdings in shares of Allstate by 33.9% during the second quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after purchasing an additional 84 shares during the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Trading Down 0.8 %

NYSE:ALL opened at $202.14 on Tuesday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43. The Allstate Co. has a 12 month low of $134.17 and a 12 month high of $205.35. The company has a market cap of $53.53 billion, a PE ratio of 13.09, a price-to-earnings-growth ratio of 1.81 and a beta of 0.48. The company has a 50 day simple moving average of $191.64 and a two-hundred day simple moving average of $178.11.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The business had revenue of $16.63 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter in the previous year, the firm posted $0.81 EPS. The firm’s revenue was up 14.7% on a year-over-year basis. Research analysts forecast that The Allstate Co. will post 16.07 earnings per share for the current year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Friday, November 29th. Allstate’s dividend payout ratio is presently 23.83%.

Insider Activity

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. The trade was a 57.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ALL. Jefferies Financial Group lifted their target price on shares of Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a report on Friday, November 8th. Wells Fargo & Company lifted their target price on shares of Allstate from $175.00 to $186.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. BMO Capital Markets lifted their target price on shares of Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, October 18th. TD Cowen lifted their target price on shares of Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, Piper Sandler boosted their price objective on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $214.19.

About Allstate

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.