M&T Bank Corp Trims Holdings in The Allstate Co. (NYSE:ALL)

M&T Bank Corp trimmed its position in The Allstate Co. (NYSE:ALL - Free Report) by 92.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,991 shares of the insurance provider's stock after selling 70,925 shares during the quarter. M&T Bank Corp's holdings in Allstate were worth $1,136,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ALL. FSA Wealth Management LLC acquired a new position in shares of Allstate in the 3rd quarter valued at approximately $26,000. Northwest Investment Counselors LLC bought a new position in shares of Allstate in the 3rd quarter valued at $28,000. Catalyst Capital Advisors LLC acquired a new position in shares of Allstate during the 3rd quarter worth $29,000. Family Firm Inc. bought a new stake in shares of Allstate during the 2nd quarter worth $38,000. Finally, MCF Advisors LLC boosted its stake in Allstate by 33.9% in the second quarter. MCF Advisors LLC now owns 332 shares of the insurance provider's stock valued at $53,000 after buying an additional 84 shares in the last quarter. Institutional investors own 76.47% of the company's stock.

Insider Activity

In other news, insider John E. Dugenske sold 36,367 shares of the company's stock in a transaction on Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the sale, the insider now owns 27,364 shares of the company's stock, valued at approximately $5,236,922.32. This represents a 57.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ALL. Jefferies Financial Group increased their target price on shares of Allstate from $231.00 to $267.00 and gave the stock a "buy" rating in a report on Friday, November 8th. StockNews.com downgraded shares of Allstate from a "strong-buy" rating to a "buy" rating in a report on Wednesday, August 21st. Morgan Stanley increased their target price on Allstate from $220.00 to $228.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. BMO Capital Markets lifted their target price on shares of Allstate from $205.00 to $214.00 and gave the stock an "outperform" rating in a research report on Friday, October 18th. Finally, The Goldman Sachs Group boosted their price objective on shares of Allstate from $209.00 to $230.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Allstate currently has an average rating of "Moderate Buy" and a consensus target price of $217.19.

Allstate Price Performance

NYSE:ALL traded down $1.24 during trading hours on Monday, hitting $195.02. The stock had a trading volume of 1,338,304 shares, compared to its average volume of 1,549,459. The firm has a market capitalization of $51.64 billion, a price-to-earnings ratio of 12.73, a P/E/G ratio of 1.70 and a beta of 0.50. The Allstate Co. has a one year low of $134.17 and a one year high of $209.88. The company has a 50 day simple moving average of $194.95 and a two-hundred day simple moving average of $181.54. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, beating the consensus estimate of $2.20 by $1.71. The firm had revenue of $16.63 billion for the quarter, compared to analysts' expectations of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The company's revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.81 EPS. Research analysts forecast that The Allstate Co. will post 16.26 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Friday, November 29th. Allstate's payout ratio is 23.83%.

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.