MainStreet Investment Advisors LLC boosted its position in shares of Allstate Corp (NYSE:ALL) by 16.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,012 shares of the insurance provider’s stock after buying an additional 1,590 shares during the period. MainStreet Investment Advisors LLC’s holdings in Allstate were worth $1,010,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in ALL. Wealth Quarterback LLC acquired a new stake in Allstate during the fourth quarter worth about $2,000,210,000. Norges Bank acquired a new stake in Allstate during the fourth quarter worth about $360,180,000. Senator Investment Group LP acquired a new stake in Allstate during the fourth quarter worth about $140,562,000. Macquarie Group Ltd. grew its stake in Allstate by 14.4% during the fourth quarter. Macquarie Group Ltd. now owns 8,768,134 shares of the insurance provider’s stock worth $985,977,000 after buying an additional 1,105,269 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in Allstate by 259.1% during the fourth quarter. First Trust Advisors LP now owns 657,317 shares of the insurance provider’s stock worth $73,915,000 after buying an additional 474,294 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.
NYSE ALL traded up $0.69 during trading hours on Friday, reaching $94.82. The company’s stock had a trading volume of 1,510,228 shares, compared to its average volume of 2,113,055. The firm has a fifty day simple moving average of $98.24 and a 200-day simple moving average of $106.88. The stock has a market cap of $29.57 billion, a P/E ratio of 7.95, a P/E/G ratio of 1.10 and a beta of 0.91. Allstate Corp has a 52 week low of $64.13 and a 52 week high of $125.92. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.31 and a quick ratio of 0.31.
Allstate (NYSE:ALL) last issued its quarterly earnings data on Tuesday, May 5th. The insurance provider reported $3.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.62. The business had revenue of $9.24 billion during the quarter, compared to analyst estimates of $9.64 billion. Allstate had a net margin of 9.38% and a return on equity of 17.53%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $2.30 EPS. On average, research analysts expect that Allstate Corp will post 11.45 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, May 29th will be issued a dividend of $0.54 per share. The ex-dividend date is Thursday, May 28th. This represents a $2.16 annualized dividend and a yield of 2.28%. Allstate’s payout ratio is 20.71%.
In other Allstate news, CEO Thomas J. Wilson sold 2,700 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $101.41, for a total transaction of $273,807.00. Following the completion of the transaction, the chief executive officer now owns 332,252 shares in the company, valued at approximately $33,693,675.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Mario Rizzo sold 6,670 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $101.39, for a total transaction of $676,271.30. Following the transaction, the chief financial officer now owns 28,235 shares of the company’s stock, valued at approximately $2,862,746.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 662,238 shares of company stock valued at $67,098,664. Company insiders own 1.80% of the company’s stock.
A number of equities research analysts have issued reports on ALL shares. Evercore ISI upgraded shares of Allstate from an “in-line” rating to an “outperform” rating and reduced their price objective for the stock from $122.00 to $119.00 in a research note on Monday, April 13th. Argus increased their target price on shares of Allstate from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Deutsche Bank increased their target price on shares of Allstate from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Friday, May 15th. Cfra dropped their target price on shares of Allstate from $135.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. Finally, Piper Sandler increased their target price on shares of Allstate from $90.00 to $101.00 and gave the stock an “overweight” rating in a report on Monday, April 6th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $115.31.
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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