Illinois Municipal Retirement Fund increased its holdings in shares of The Allstate Corporation (NYSE:ALL – Free Report) by 8.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 171,933 shares of the insurance provider’s stock after buying an additional 13,077 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.07% of Allstate worth $35,788,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in ALL. Dorato Capital Management purchased a new position in Allstate during the fourth quarter worth about $27,000. Navalign LLC purchased a new position in Allstate during the fourth quarter worth about $27,000. Princeton Global Asset Management LLC lifted its position in Allstate by 101.3% during the fourth quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock worth $31,000 after buying an additional 76 shares during the period. Palisade Asset Management LLC purchased a new position in Allstate during the third quarter worth about $31,000. Finally, South Plains Financial Inc. lifted its position in Allstate by 41.5% during the third quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock worth $36,000 after buying an additional 49 shares during the period. 76.47% of the stock is currently owned by hedge funds and other institutional investors.
Allstate Stock Performance
Allstate stock opened at $223.45 on Thursday. The stock’s 50-day moving average is $214.08 and its 200-day moving average is $208.82. The company has a market cap of $57.52 billion, a price-to-earnings ratio of 4.93, a price-to-earnings-growth ratio of 0.39 and a beta of 0.18. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $227.62.
Allstate Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a $1.08 dividend. The ex-dividend date is Monday, June 1st. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.9%. Allstate’s dividend payout ratio (DPR) is 9.53%.
Insider Activity
In other news, insider Mark Q. Prindiville sold 1,550 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the sale, the insider owned 27,558 shares in the company, valued at approximately $5,959,968.66. This trade represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrea Redmond sold 2,225 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the sale, the director owned 2,225 shares of the company’s stock, valued at approximately $451,474.75. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 22,353 shares of company stock worth $4,851,560. 1.55% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the company. Raymond James Financial reiterated a “strong-buy” rating and set a $260.00 target price on shares of Allstate in a research report on Tuesday, March 3rd. Weiss Ratings upgraded Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, March 23rd. Wells Fargo & Company increased their target price on Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Piper Sandler reiterated an “overweight” rating on shares of Allstate in a research report on Thursday, May 28th. Finally, Wall Street Zen downgraded Allstate from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and a consensus price target of $240.33.
Check Out Our Latest Analysis 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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