Meyer Handelman Co. Has $33.10 Million Holdings in The Allstate Co. (NYSE:ALL)

Meyer Handelman Co. increased its position in The Allstate Co. (NYSE:ALL) by 1.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 174,510 shares of the insurance provider’s stock after purchasing an additional 2,125 shares during the period. Allstate comprises about 1.1% of Meyer Handelman Co.’s investment portfolio, making the stock its 28th biggest holding. Meyer Handelman Co. owned 0.07% of Allstate worth $33,096,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BDF Gestion purchased a new position in shares of Allstate during the second quarter valued at $3,051,000. BNP Paribas Financial Markets boosted its holdings in shares of Allstate by 55.8% during the first quarter. BNP Paribas Financial Markets now owns 218,629 shares of the insurance provider’s stock worth $37,825,000 after purchasing an additional 78,316 shares during the period. OFI Invest Asset Management purchased a new position in Allstate during the second quarter valued at approximately $476,000. Envestnet Portfolio Solutions Inc. increased its stake in Allstate by 12.5% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 50,383 shares of the insurance provider’s stock valued at $8,717,000 after buying an additional 5,586 shares during the period. Finally, SG Americas Securities LLC lifted its position in Allstate by 251.8% in the 1st quarter. SG Americas Securities LLC now owns 53,090 shares of the insurance provider’s stock worth $9,185,000 after buying an additional 38,001 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ALL shares. StockNews.com downgraded shares of Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. Roth Mkm reaffirmed a “buy” rating and set a $200.00 price target on shares of Allstate in a research note on Wednesday, August 14th. Evercore ISI boosted their price target on Allstate from $191.00 to $195.00 and gave the company an “in-line” rating in a research note on Wednesday. Wells Fargo & Company reduced their target price on shares of Allstate from $177.00 to $175.00 and set an “equal weight” rating for the company in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. increased their price target on shares of Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Allstate presently has an average rating of “Moderate Buy” and an average price target of $199.24.

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 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 owns 89,930 shares in the company, valued at approximately $15,942,790.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Suren Gupta sold 45,775 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Elizabeth Brady sold 49,481 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $179.09, for a total value of $8,861,552.29. Following the completion of the sale, the executive vice president now directly owns 19,163 shares in the company, valued at approximately $3,431,901.67. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 238,305 shares of company stock valued at $43,082,657 over the last ninety days. 1.80% of the stock is owned by company insiders.

Allstate Trading Up 1.3 %

Shares of ALL stock opened at $188.24 on Friday. The firm has a market capitalization of $49.70 billion, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 1.74 and a beta of 0.48. The Allstate Co. has a 1 year low of $113.04 and a 1 year high of $193.97. The firm’s fifty day simple moving average is $184.27 and its 200 day simple moving average is $173.03. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49.

Allstate (NYSE:ALL) last released its earnings results 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 during the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The firm’s revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the company earned ($4.42) earnings per share. As a group, sell-side analysts predict that The Allstate Co. will post 15.19 EPS for the current year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, August 30th were paid a $0.92 dividend. The ex-dividend date was Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.95%. Allstate’s payout ratio is 33.61%.

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.