Massachusetts Financial Services Co. MA Sells 2,010 Shares of The Allstate Co. (NYSE:ALL)

Massachusetts Financial Services Co. MA trimmed its position in The Allstate Co. (NYSE:ALLGet Rating) by 5.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,403 shares of the insurance provider’s stock after selling 2,010 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Allstate were worth $4,400,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ALL. Northwest Investment Counselors LLC bought a new stake in Allstate during the fourth quarter worth approximately $29,000. Lindbrook Capital LLC increased its stake in Allstate by 79.1% during the fourth quarter. Lindbrook Capital LLC now owns 335 shares of the insurance provider’s stock worth $39,000 after acquiring an additional 148 shares during the last quarter. Horan Securities Inc. bought a new stake in Allstate during the fourth quarter worth approximately $40,000. FSB Premier Wealth Management Inc. bought a new stake in Allstate during the fourth quarter worth approximately $41,000. Finally, Simon Quick Advisors LLC increased its stake in Allstate by 461.0% during the fourth quarter. Simon Quick Advisors LLC now owns 460 shares of the insurance provider’s stock worth $54,000 after acquiring an additional 378 shares during the last quarter. 75.84% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CAO John C. Pintozzi sold 3,000 shares of the stock in a transaction on Friday, February 25th. The stock was sold at an average price of $123.87, for a total transaction of $371,610.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.77% of the stock is owned by corporate insiders.

Allstate stock opened at $129.21 on Wednesday. The business has a fifty day moving average of $134.27 and a two-hundred day moving average of $124.07. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.38. The firm has a market cap of $35.53 billion, a P/E ratio of 10.82, a P/E/G ratio of 2.59 and a beta of 0.82. The Allstate Co. has a twelve month low of $106.11 and a twelve month high of $144.46.

Allstate (NYSE:ALLGet Rating) last posted its earnings results on Wednesday, May 4th. The insurance provider reported $2.58 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.21). The company had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $11.14 billion. Allstate had a return on equity of 12.50% and a net margin of 7.20%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.11 EPS. Equities analysts expect that The Allstate Co. will post 9.1 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, April 1st. Shareholders of record on Monday, February 28th were issued a dividend of $0.85 per share. The ex-dividend date was Friday, February 25th. This represents a $3.40 dividend on an annualized basis and a yield of 2.63%. This is a positive change from Allstate’s previous quarterly dividend of $0.81. Allstate’s dividend payout ratio is currently 28.48%.

Several equities research analysts have weighed in on the company. Barclays boosted their price objective on Allstate from $119.00 to $141.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 12th. StockNews.com began coverage on Allstate in a research note on Thursday, March 31st. They set a “hold” rating on the stock. The Goldman Sachs Group raised Allstate from a “sell” rating to a “buy” rating and upped their target price for the company from $111.00 to $142.00 in a research note on Wednesday, March 2nd. Morgan Stanley upped their target price on Allstate from $140.00 to $152.00 and gave the company an “equal weight” rating in a research note on Thursday, April 14th. Finally, Raymond James raised Allstate from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $145.00 to $165.00 in a research note on Friday, March 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $142.31.

About Allstate (Get Rating)

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability 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 and stand-alone scheduled personal property; and commercial lines products under the Allstate and Encompass brand names.

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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