Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Position in The Allstate Co. (NYSE:ALL)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of The Allstate Co. (NYSE:ALL) by 8.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 119,760 shares of the insurance provider’s stock after acquiring an additional 9,262 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Allstate were worth $22,712,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. SPC Financial Inc. increased its holdings in shares of Allstate by 3.6% in the 3rd quarter. SPC Financial Inc. now owns 1,564 shares of the insurance provider’s stock valued at $297,000 after acquiring an additional 54 shares during the period. Lake Street Advisors Group LLC boosted its position in Allstate by 1.8% during the third quarter. Lake Street Advisors Group LLC now owns 3,129 shares of the insurance provider’s stock valued at $596,000 after purchasing an additional 54 shares in the last quarter. Abacus Planning Group Inc. grew its stake in Allstate by 2.4% in the third quarter. Abacus Planning Group Inc. now owns 2,416 shares of the insurance provider’s stock valued at $458,000 after purchasing an additional 56 shares during the last quarter. Chicago Partners Investment Group LLC raised its holdings in Allstate by 1.3% in the third quarter. Chicago Partners Investment Group LLC now owns 4,630 shares of the insurance provider’s stock worth $893,000 after purchasing an additional 59 shares in the last quarter. Finally, Carmichael Hill & Associates Inc. lifted its position in shares of Allstate by 15.0% during the third quarter. Carmichael Hill & Associates Inc. now owns 460 shares of the insurance provider’s stock valued at $87,000 after buying an additional 60 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

Allstate Stock Performance

Shares of ALL stock opened at $207.39 on Friday. 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 $209.88. The business’s 50 day moving average is $193.02 and its two-hundred day moving average is $179.03. The company has a market capitalization of $54.92 billion, a P/E ratio of 13.43, a P/E/G ratio of 1.83 and a beta of 0.48.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) 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 analysts’ expectations of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.81 EPS. Analysts expect that The Allstate Co. will post 16.26 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be given a dividend of $0.92 per share. The ex-dividend date is Friday, November 29th. This represents a $3.68 annualized dividend and a dividend yield of 1.77%. Allstate’s dividend payout ratio (DPR) is presently 23.83%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ALL. BMO Capital Markets lifted their price objective on shares of Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. boosted their target price on Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Raymond James increased their price target on Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Friday, October 4th. Jefferies Financial Group increased their price objective on shares of Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company boosted their target price on shares of Allstate from $175.00 to $186.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. One equities research 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.19.

Insider Buying and Selling

In other news, insider John E. Dugenske sold 36,367 shares of the firm’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 transaction, the insider now owns 27,364 shares in the company, valued at $5,236,922.32. This trade represents a 57.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.80% of the stock is currently owned by insiders.

Allstate 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.