Lazard Asset Management LLC boosted its stake in shares of The Allstate Corporation (NYSE:ALL – Free Report) by 31.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 879,507 shares of the insurance provider’s stock after purchasing an additional 208,128 shares during the quarter. Lazard Asset Management LLC owned approximately 0.34% of Allstate worth $182,357,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. MV Capital Management Inc. acquired a new position in shares of Allstate during the fourth quarter valued at $25,000. Navalign LLC acquired a new stake in shares of Allstate in the 4th quarter worth about $27,000. Dorato Capital Management bought a new stake in Allstate in the 4th quarter valued at about $27,000. Evolution Wealth Management Inc. lifted its position in Allstate by 7,000.0% in the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 140 shares during the last quarter. Finally, Palisade Asset Management LLC acquired a new position in Allstate during the 3rd quarter valued at about $31,000. 76.47% of the stock is currently owned by institutional investors.
Allstate Stock Performance
Allstate stock opened at $260.16 on Monday. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $260.65. The firm’s 50 day simple moving average is $231.16 and its 200-day simple moving average is $216.07. 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 company has a market cap of $66.97 billion, a P/E ratio of 5.74, a price-to-earnings-growth ratio of 0.45 and a beta of 0.16.
Allstate Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be paid a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate’s dividend payout ratio is currently 9.53%.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on ALL shares. Cantor Fitzgerald increased their price objective on Allstate from $236.00 to $242.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Citigroup boosted their price target on shares of Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Raymond James Financial upped their price target on shares of Allstate from $260.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Monday, July 6th. Zacks Research lowered shares of Allstate from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, UBS Group cut Allstate from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $255.00 to $261.00 in a report on Wednesday, July 15th. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $254.80.
Get Our Latest Stock Report on ALL
Insiders Place Their Bets
In other news, insider Mark Q. Prindiville sold 1,550 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the transaction, the insider directly owned 27,558 shares in the company, valued at $5,959,968.66. The trade was a 5.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andrea Redmond sold 2,225 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following the completion of the transaction, the director directly owned 2,225 shares in the company, valued at $451,474.75. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 22,353 shares of company stock worth $4,851,560 in the last quarter. 1.55% of the stock is currently owned by corporate insiders.
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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