The Allstate Co. (NYSE:ALL) Shares Bought by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV grew its holdings in shares of The Allstate Co. (NYSE:ALL) by 0.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,830 shares of the insurance provider’s stock after purchasing an additional 130 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Allstate were worth $2,847,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its position in shares of Allstate by 1.8% in the 1st quarter. Bank of New York Mellon Corp now owns 5,112,468 shares of the insurance provider’s stock valued at $884,508,000 after purchasing an additional 90,390 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Allstate by 0.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,629,870 shares of the insurance provider’s stock worth $508,109,000 after acquiring an additional 27,766 shares in the last quarter. Norges Bank acquired a new stake in shares of Allstate during the fourth quarter valued at approximately $212,771,000. Russell Investments Group Ltd. lifted its position in shares of Allstate by 11.8% in the 1st quarter. Russell Investments Group Ltd. now owns 716,757 shares of the insurance provider’s stock valued at $123,574,000 after acquiring an additional 75,698 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Allstate by 1.0% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 687,386 shares of the insurance provider’s stock worth $118,925,000 after purchasing an additional 6,760 shares during the period. 76.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other 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 value of $8,114,992.00. Following the transaction, the insider now owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ALL has been the subject of a number of research analyst reports. Morgan Stanley reduced their target price on Allstate from $205.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. StockNews.com raised shares of Allstate from a “buy” rating to a “strong-buy” rating in a research note on Thursday. The Goldman Sachs Group increased their price objective on Allstate from $197.00 to $199.00 and gave the company a “buy” rating in a report on Friday, July 19th. Wells Fargo & Company raised their price objective on Allstate from $146.00 to $153.00 and gave the company an “underweight” rating in a research note on Friday, May 10th. Finally, Bank of America increased their price target on Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.06.

Allstate Price Performance

ALL stock traded down $7.82 during midday trading on Monday, reaching $169.00. 1,922,561 shares of the company’s stock traded hands, compared to its average volume of 1,575,061. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49. The company has a market cap of $44.62 billion, a price-to-earnings ratio of 39.03, a PEG ratio of 1.86 and a beta of 0.48. The company has a 50-day simple moving average of $164.68 and a two-hundred day simple moving average of $164.34. The Allstate Co. has a 1-year low of $104.29 and a 1-year high of $180.87.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. The business had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($4.42) earnings per share. On average, analysts anticipate that The Allstate Co. will post 13.64 earnings per share for the current year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Friday, August 30th. Allstate’s dividend payout ratio is currently 81.24%.

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.