Geode Capital Management LLC Has $1.18 Billion Holdings in The Allstate Co. (NYSE:ALL)

Geode Capital Management LLC lifted its stake in shares of The Allstate Co. (NYSE:ALL - Free Report) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,228,581 shares of the insurance provider's stock after acquiring an additional 74,537 shares during the quarter. Geode Capital Management LLC owned 2.35% of Allstate worth $1,178,164,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Pathway Financial Advisers LLC increased its stake in Allstate by 18,472.5% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider's stock worth $199,642,000 after purchasing an additional 1,047,019 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Allstate by 18.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider's stock worth $569,114,000 after acquiring an additional 472,040 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Allstate by 181.6% during the second quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider's stock valued at $114,955,000 after acquiring an additional 464,337 shares during the period. TimesSquare Capital Management LLC acquired a new position in Allstate in the 3rd quarter worth approximately $77,819,000. Finally, Acadian Asset Management LLC grew its position in Allstate by 3,839.0% during the 2nd quarter. Acadian Asset Management LLC now owns 416,117 shares of the insurance provider's stock worth $66,417,000 after purchasing an additional 405,553 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Stock Performance

NYSE:ALL traded down $1.84 during trading hours on Wednesday, hitting $193.22. 1,541,433 shares of the company traded hands, compared to its average volume of 1,551,107. 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 twelve month low of $134.17 and a twelve month high of $209.88. The firm has a 50-day moving average of $194.69 and a 200 day moving average of $180.92. The stock has a market capitalization of $51.16 billion, a price-to-earnings ratio of 12.52, a P/E/G ratio of 1.79 and a beta of 0.50.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, beating analysts' consensus estimates of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The business had revenue of $16.63 billion during the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the prior year, the business earned $0.81 earnings per share. The firm's revenue for the quarter was up 14.7% on a year-over-year basis. On average, analysts forecast that The Allstate Co. will post 16.26 EPS for the current year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Friday, November 29th. Allstate's payout ratio is presently 23.83%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price target on Allstate from $175.00 to $186.00 and gave the company an "equal weight" rating in a report on Tuesday, November 5th. TD Cowen raised their price target on shares of Allstate from $193.00 to $224.00 and gave the stock a "buy" rating in a report on Tuesday, September 3rd. Keefe, Bruyette & Woods increased their target price on shares of Allstate from $222.00 to $225.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. upped 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, October 10th. Finally, Evercore ISI lifted their price objective on Allstate from $191.00 to $195.00 and gave the company an "in-line" rating in a research report on Wednesday, October 9th. 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.com, Allstate currently has a consensus rating of "Moderate Buy" and a consensus target price of $217.19.

Insider Activity

In other Allstate news, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the sale, the insider now directly owns 27,364 shares of the company's stock, valued at approximately $5,236,922.32. The trade was a 57.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is currently owned by company insiders.

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.