The Allstate Co. (NYSE:ALL) Shares Acquired by Bruce & Co. Inc.

Bruce & Co. Inc. raised its holdings in The Allstate Co. (NYSE:ALL) by 2.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 130,500 shares of the insurance provider’s stock after buying an additional 3,300 shares during the period. Allstate accounts for about 6.9% of Bruce & Co. Inc.’s portfolio, making the stock its 5th largest holding. Bruce & Co. Inc.’s holdings in Allstate were worth $20,836,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new position in shares of Allstate in the first quarter valued at $26,000. Northwest Investment Counselors LLC bought a new position in shares of Allstate in the 1st quarter valued at about $26,000. Versant Capital Management Inc grew its position in shares of Allstate by 70.9% in the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 78 shares during the period. Family Firm Inc. acquired a new position in shares of Allstate during the 2nd quarter worth about $38,000. Finally, Frazier Financial Advisors LLC bought a new stake in shares of Allstate in the 4th quarter valued at about $44,000. 76.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ALL shares. Bank of America lifted their price target on Allstate from $213.00 to $226.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company decreased their target price on Allstate from $177.00 to $175.00 and set an “equal weight” rating on the stock in a report on Friday, August 16th. JPMorgan Chase & Co. raised their price target on Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Morgan Stanley decreased their price objective on shares of Allstate from $205.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Finally, BMO Capital Markets increased their price objective on shares of Allstate from $191.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $192.76.

Insider Activity at Allstate

In other Allstate news, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the sale, the chief executive officer now owns 88,552 shares of the company’s stock, valued at $15,880,915.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the sale, the chief executive officer now directly owns 88,552 shares in the company, valued at $15,880,915.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Suren Gupta sold 45,775 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total value of $8,114,992.00. Following the completion of the transaction, the insider now directly owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. The disclosure for this sale can be found here. Insiders sold a total of 201,938 shares of company stock valued at $36,122,740 in the last quarter. Insiders own 1.80% of the company’s stock.

Allstate Stock Performance

Shares of NYSE:ALL opened at $188.30 on Monday. The Allstate Co. has a 1 year low of $108.16 and a 1 year high of $191.33. The stock has a market capitalization of $49.72 billion, a price-to-earnings ratio of 41.57, a price-to-earnings-growth ratio of 1.74 and a beta of 0.48. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. The company’s 50 day simple moving average is $176.43 and its 200 day simple moving average is $169.17.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share for the quarter, beating the consensus estimate of $0.33 by $1.28. The business had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.04 billion. Allstate had a return on equity of 24.05% and a net margin of 5.03%. Allstate’s revenue was up 12.4% compared to the same quarter last year. During the same period last year, the firm posted ($4.42) earnings per share. As a group, research analysts predict that The Allstate Co. will post 15.16 EPS for the current fiscal year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Friday, August 30th. Allstate’s dividend payout ratio is 81.24%.

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.