Severin Investments LLC bought a new stake in shares of The Allstate Corporation (NYSE:ALL – Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,989 shares of the insurance provider’s stock, valued at approximately $622,000.
Several other institutional investors also recently bought and sold shares of the stock. Truist Financial Corp lifted its holdings in Allstate by 4.7% in the 3rd quarter. Truist Financial Corp now owns 123,461 shares of the insurance provider’s stock worth $26,501,000 after buying an additional 5,542 shares during the period. Jones Financial Companies Lllp lifted its holdings in Allstate by 6.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 189,718 shares of the insurance provider’s stock worth $40,489,000 after buying an additional 12,225 shares during the period. Caprock Group LLC purchased a new stake in Allstate in the 3rd quarter worth approximately $3,598,000. Coastal Bridge Advisors LLC lifted its holdings in Allstate by 530.6% in the 3rd quarter. Coastal Bridge Advisors LLC now owns 18,174 shares of the insurance provider’s stock worth $3,901,000 after buying an additional 15,292 shares during the period. Finally, CIBC Bancorp USA Inc. purchased a new stake in Allstate in the 3rd quarter worth approximately $7,814,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, COO Mario Rizzo sold 18,578 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the transaction, the chief operating officer owned 82,227 shares of the company’s stock, valued at $17,991,267.60. This trade represents a 18.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark Q. Prindiville sold 1,550 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value of $335,218.50. Following the transaction, the insider directly owned 27,558 shares of the company’s stock, valued at approximately $5,959,968.66. This trade represents a 5.32% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.55% of the stock is owned by company insiders.
Allstate Stock Down 1.8%
Allstate (NYSE:ALL – Get Free Report) last announced its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The firm had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same quarter in the prior year, the company earned $3.53 EPS. The business’s revenue was up 3.0% compared to the same quarter last year. As a group, equities research analysts anticipate that The Allstate Corporation will post 29.28 EPS for the current fiscal year.
Allstate Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Monday, June 1st. Allstate’s dividend payout ratio (DPR) is 9.53%.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the company. Raymond James Financial reiterated a “strong-buy” rating and issued a $260.00 price objective on shares of Allstate in a report on Tuesday, March 3rd. Wells Fargo & Company increased their price objective on Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Keefe, Bruyette & Woods increased their price objective on Allstate from $260.00 to $266.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Weiss Ratings upgraded Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, March 23rd. Finally, Barclays increased their price objective on Allstate from $207.00 to $208.00 and gave the stock an “underweight” rating in a report on Wednesday, April 8th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Allstate currently has an average rating of “Moderate Buy” and a consensus target price of $241.67.
Get Our Latest Stock Report on ALL
About Allstate
Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.
The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.
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