FSA Advisors Inc. acquired a new position in shares of The Allstate Corporation (NYSE:ALL – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,147 shares of the insurance provider’s stock, valued at approximately $511,000.
Other large investors have also recently bought and sold shares of the company. MV Capital Management Inc. acquired a new position in shares of Allstate in the 4th quarter valued at approximately $25,000. Gables Capital Management Inc. acquired a new stake in shares of Allstate during the 2nd quarter worth approximately $26,000. Navalign LLC acquired a new stake in shares of Allstate during the 4th quarter worth approximately $27,000. Kelleher Financial Advisors bought a new position in Allstate in the second quarter valued at approximately $28,000. Finally, Evolution Wealth Management Inc. raised its position in Allstate by 7,000.0% during the first 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 in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Allstate
In related news, insider John E. Dugenske sold 32,996 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the sale, the insider owned 13,054 shares in the company, valued at $3,515,833.82. The trade was a 71.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Mario Rizzo sold 56,225 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at approximately $21,747,396.96. The trade was a 40.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 91,446 shares of company stock valued at $24,208,675 in the last 90 days. 1.55% of the stock is owned by corporate insiders.
Allstate Price Performance
Allstate (NYSE:ALL – Get Free Report) last issued its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, beating analysts’ consensus estimates of $6.06 by $2.93. The firm had revenue of $18.60 billion for the quarter, compared to analyst estimates of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the business posted $5.94 earnings per share. Research analysts anticipate that The Allstate Corporation will post 34.45 EPS for the current fiscal year.
Allstate Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be issued a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. Allstate’s dividend payout ratio (DPR) is 8.63%.
Analysts Set New Price Targets
Several equities research analysts have weighed in on ALL shares. JPMorgan Chase & Co. upped their target price on Allstate from $282.00 to $292.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $280.00 price target on shares of Allstate in a research note on Friday, August 7th. UBS Group boosted their price target on Allstate from $261.00 to $275.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Mizuho upped their price objective on Allstate from $255.00 to $272.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. Finally, Wall Street Zen raised Allstate from a “hold” rating to a “buy” rating in a research note on Monday, July 20th. Four equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Allstate has a consensus rating of “Hold” and an average price target of $265.26.
Check Out Our Latest Stock Report on Allstate
Allstate Company 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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