Trustmark National Bank Trust Department Has $1.44 Million Stock Holdings in The Allstate Co. (NYSE:ALL)

Trustmark National Bank Trust Department boosted its stake in shares of The Allstate Co. (NYSE:ALL) by 216.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 8,348 shares of the insurance provider’s stock after buying an additional 5,713 shares during the quarter. Trustmark National Bank Trust Department’s holdings in Allstate were worth $1,444,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. purchased a new position in Allstate during the first quarter valued at approximately $25,000. Private Wealth Management Group LLC purchased a new position in shares of Allstate during the fourth quarter worth about $25,000. Rise Advisors LLC purchased a new stake in Allstate in the first quarter valued at approximately $26,000. Northwest Investment Counselors LLC purchased a new position in shares of Allstate in the 1st quarter worth about $26,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of Allstate during the 4th quarter valued at about $36,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Price Performance

NYSE:ALL traded down $0.52 during trading hours on Tuesday, hitting $174.31. 331,033 shares of the stock traded hands, compared to its average volume of 1,551,849. The stock has a 50 day moving average price of $163.81 and a 200 day moving average price of $162.99. The company has a market cap of $46.00 billion, a price-to-earnings ratio of 38.76, a price-to-earnings-growth ratio of 1.96 and a beta of 0.48. The Allstate Co. has a 1 year low of $104.29 and a 1 year high of $179.93. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.48.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.11 by $1.02. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The business had revenue of $15.26 billion during the quarter, compared to analyst estimates of $12.76 billion. During the same period last year, the firm posted ($1.30) EPS. The company’s revenue was up 10.7% on a year-over-year basis. Sell-side analysts forecast that The Allstate Co. will post 12.72 EPS for the current fiscal year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Friday, August 30th. Allstate’s dividend payout ratio is 81.24%.

Insider Activity at Allstate

In related news, insider Suren Gupta sold 45,775 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the sale, the insider now owns 89,930 shares in the company, valued at approximately $15,942,790.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $194.00 price target on shares of Allstate in a research note on Friday, July 5th. HSBC raised shares of Allstate from a “hold” rating to a “buy” rating and boosted their price target for the stock from $158.00 to $190.00 in a research note on Thursday, March 28th. StockNews.com lowered Allstate from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 3rd. The Goldman Sachs Group upped their price objective on shares of Allstate from $197.00 to $199.00 and gave the stock a “buy” rating in a report on Friday. Finally, BMO Capital Markets raised shares of Allstate from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $190.00 to $191.00 in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Allstate has an average rating of “Moderate Buy” and a consensus price target of $178.06.

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.