MetLife Investment Management LLC Decreases Stock Position in The Allstate Co. (NYSE:ALL)

MetLife Investment Management LLC decreased its position in The Allstate Co. (NYSE:ALL) by 2.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,498 shares of the insurance provider’s stock after selling 1,772 shares during the quarter. MetLife Investment Management LLC’s holdings in Allstate were worth $13,370,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. B. Riley Wealth Advisors Inc. raised its position in shares of Allstate by 28.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,945 shares of the insurance provider’s stock worth $683,000 after acquiring an additional 873 shares in the last quarter. Tidal Investments LLC boosted its holdings in shares of Allstate by 35.4% in the 1st quarter. Tidal Investments LLC now owns 27,999 shares of the insurance provider’s stock valued at $4,844,000 after buying an additional 7,324 shares in the last quarter. Plato Investment Management Ltd grew its position in shares of Allstate by 787.9% in the 1st quarter. Plato Investment Management Ltd now owns 1,101 shares of the insurance provider’s stock valued at $190,000 after buying an additional 977 shares during the last quarter. Strategic Wealth Partners Ltd. acquired a new stake in Allstate during the 1st quarter worth $260,000. Finally, Swedbank AB purchased a new stake in Allstate in the first quarter valued at $5,480,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Price Performance

Shares of ALL opened at $208.19 on Thursday. 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 stock’s 50 day moving average is $192.34 and its two-hundred day moving average is $178.57. The Allstate Co. has a twelve month low of $134.17 and a twelve month high of $209.88. The firm has a market capitalization of $55.13 billion, a PE ratio of 13.48, a P/E/G ratio of 1.80 and a beta of 0.48.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the business earned $0.81 earnings per share. Research analysts anticipate that The Allstate Co. will post 16.07 earnings per share for the current year.

Allstate Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.77%. Allstate’s dividend payout ratio is presently 23.83%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ALL. Morgan Stanley raised their price objective on Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Jefferies Financial Group raised their price target on Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. boosted their price objective on Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Bank of America raised their target price on shares of Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, The Goldman Sachs Group upped their price target on shares of Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Allstate presently has an average rating of “Moderate Buy” and a consensus target price of $217.19.

Insider Activity

In related news, insider John E. Dugenske sold 36,367 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the sale, the insider now owns 27,364 shares in the company, valued at $5,236,922.32. This represents a 57.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.80% of the company’s stock.

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.