The Bank of Nova Scotia increased its stake in Allstate Corp. (NYSE: ALL) by 343.7% in the fourth quarter, the company said in its recent announcement to the Securities and Exchange Commission. The Fund held 313,614 shares of the insurance company after having acquired a further 242,925 shares during the period. The Bank of Nova Scotia, after its recent filing with the Securities and Exchange Commission, owned approximately 0.09% of Allstate worth $ 25,910,000.
A number of other institutional investors and hedge funds have also recently changed their all-positions. Advisors Asset Management Inc. increased its position in Allstate by 16.3% in the second quarter. Advisors Asset Management Inc. now owns 11,202 shares of the insurance company worth $ 1,022,000 after acquiring another 1,567 shares in the last quarter. Cornerstone Wealth Management LLC acquired a new position in Allstate worth approximately $ 146,000 in the third quarter. CWM LLC increased its holdings in Allstate by 2,289.4% in the third quarter. CWM LLC now owns 13,572 shares of the insurance company worth $ 1,340,000, after acquiring another 13,004 shares in the last quarter. Greenleaf Trust increased its stake in Allstate by 16.2% in the third quarter. Greenleaf Trust now owns 4,739 shares of the insurance company worth $ 468,000, after acquiring a further 660 shares in the last quarter. Finally, in the third quarter, Patriot Financial Group Insurance Agency LLC acquired a new position in Allstate worth approximately $ 110,000. Hedge funds and other institutional investors hold 78.82% of the company's stock.
Several stock analysts weighed on ALL stocks. Argus lowered Allstate's price target from $ 115.00 to $ 106.00 and recommended the stock on Wednesday, November 28th. In a report on Tuesday, December 11, Edward Jones upgraded Allstate's stock from a sell rating to a hold rating. Wells Fargo & Co set a $ 100.00 target for Allstate shares and rated the company on Thursday, December 13, in a report. ValuEngine Allstate's shares were upgraded from a sell rating to a hold rating on Tuesday, December 18, in a report. Finally, Credit Suisse Group lowered its price target for Allstate shares from $ 112.00 to $ 93.00 and "bought" the stock on Thursday, December 20. Eight investment analysts rated the stock with a hold rating and six gave the company a buy rating. Allstate currently has an average rating of "Hold" and an average price target of $ 100.73.
Shares of ALL camps opened on Friday at $ 94.84. The company has a current ratio of 0.27, a fast ratio of 0.27 and a leverage ratio of 0.33. Allstate Corp. has an annual low of $ 77.00 and an annual high of $ 102.73. The company has a market capitalization of $ 31.16 billion, a PE ratio of 11.75, a P / E / G ratio of 1.22 and a beta of 0.82.
Allstate (NYSE: ALL) recently released its quarterly earnings data on Tuesday, February 5. The insurer reported $ 1.24 per share for the quarter, exceeding the consensus estimate of $ 1.01 by $ 0.23. Allstate had a net margin of 5.66% and a return on equity of 14.00%. The company generated $ 8.71 billion in revenue for the quarter, compared to analyst estimates of $ 8.66 billion. In the same period last year, the company achieved $ 2.09 per share. The company's revenue for the quarter increased 6.2% year-over-year. Stock analysts expect Allstate Corp to reach 9.28 per share this year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 1. Shareholders registered on Thursday, February 28, receive a dividend of $ 0.50. This is a positive change from Allstate's previous quarterly dividend of $ 0.46. This equates to an annualized dividend of $ 2.00 and a dividend yield of 2.11%. The ex-dividend date of this dividend is February 27th. The payout ratio of Allstate is currently 24.78%.
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Through its subsidiaries, Allstate Corporation offers property and casualty insurance products and other insurance products in the United States and Canada. The company operates in the Allstate Protection, Service Business, Allstate Life and Allstate Benefits businesses. The Allstate Protection segment offers private car and homeowner insurance. Specialty products for motor vehicles, including motorcycle, trailer, motorhome and off-road motor vehicle insurance; other personal items such as tenant, condo, landlord, boat, umbrella and home insurance; and line products under the brand names Allstate, Esurance and Encompass.
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