Citizens Financial Group Inc. RI purchased a new stake in The Allstate Corporation (NYSE:ALL – Free Report) during the second quarter, according to its most recent filing with the SEC. The firm purchased 4,912 shares of the insurance provider’s stock, valued at approximately $1,174,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC lifted its stake in Allstate by 60.2% in the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock valued at $1,253,000 after acquiring an additional 2,443 shares in the last quarter. Revolve Wealth Partners LLC acquired a new stake in shares of Allstate in the fourth quarter valued at approximately $231,000. WINTON GROUP Ltd acquired a new stake in shares of Allstate in the second quarter valued at approximately $210,000. Treasurer of the State of North Carolina lifted its position in shares of Allstate by 2.5% in the second quarter. Treasurer of the State of North Carolina now owns 123,272 shares of the insurance provider’s stock worth $24,816,000 after purchasing an additional 3,051 shares in the last quarter. Finally, Ieq Capital LLC lifted its position in shares of Allstate by 20.1% in the second quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider’s stock worth $7,713,000 after purchasing an additional 6,412 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.
Insider Transactions at Allstate
In other Allstate news, COO Mario Rizzo sold 56,225 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total value of $14,870,388.00. Following the transaction, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at $21,747,396.96. This represents a 40.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Andrea Redmond sold 2,225 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $202.91, for a total value of $451,474.75. Following the transaction, the director owned 2,225 shares in the company, valued at $451,474.75. The trade was a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 92,996 shares of company stock worth $24,543,894 over the last three months. Company insiders own 1.55% of the company’s stock.
Allstate Price Performance
Allstate (NYSE:ALL – Get Free Report) last announced its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, topping the consensus estimate of $6.06 by $2.93. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The business had revenue of $15.43 billion during the quarter, compared to the consensus estimate of $15.46 billion. During the same quarter in the previous year, the firm posted $5.94 EPS. Allstate’s revenue was up 11.8% compared to the same quarter last year. Equities analysts forecast that The Allstate Corporation will post 34.2 EPS for the current year.
Allstate Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate’s payout ratio is currently 8.63%.
Wall Street Analyst Weigh In
A number of research firms have recently commented on ALL. Atlantic Securities set a $319.00 price objective on shares of Allstate in a research note on Wednesday, July 15th. Mizuho upped their target price on Allstate from $255.00 to $272.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Cantor Fitzgerald increased their price target on Allstate from $236.00 to $242.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. UBS Group raised their price target on Allstate from $261.00 to $275.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Finally, Barclays boosted their price target on Allstate from $213.00 to $226.00 and gave the stock an “underweight” rating in a research report on Thursday, August 6th. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Allstate currently has an average rating of “Hold” and a consensus target price of $265.53.
Check Out Our Latest Analysis on ALL
Allstate Profile
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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