NEOS Investment Management LLC raised its stake in shares of The Allstate Corporation (NYSE:ALL – Free Report) by 12.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,236 shares of the insurance provider’s stock after purchasing an additional 4,807 shares during the period. NEOS Investment Management LLC’s holdings in Allstate were worth $10,050,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. MV Capital Management Inc. purchased a new position in Allstate during the 4th quarter valued at approximately $25,000. Gables Capital Management Inc. purchased a new position in shares of Allstate in the second quarter valued at $26,000. Navalign LLC purchased a new position in shares of Allstate in the fourth quarter valued at $27,000. Kelleher Financial Advisors purchased a new stake in Allstate during the second quarter valued at $28,000. Finally, Evolution Wealth Management Inc. lifted 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 during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.
Key Stories Impacting Allstate
Here are the key news stories impacting Allstate this week:
- Positive Sentiment: Allstate is included among insurers using artificial intelligence, data and technology to improve operating efficiency, underwriting and growth, which could support long-term margins and competitiveness. 3 Insurers to Add to Portfolio as AI Transforms Insurance Operations
- Positive Sentiment: A review of Allstate’s financial strength and earnings outlook suggests the company may merit renewed investor consideration, reinforcing the case for its profitability and balance-sheet position. Affirmed Financial Strength And Earnings Outlook Might Change The Case For Investing In Allstate
- Positive Sentiment: Allstate is highlighted as a value-oriented property-and-casualty insurer with premium growth, underwriting discipline and investment-portfolio gains. 3 P&C Insurers to Add for Better Returns in Sluggish September
- Positive Sentiment: Allstate is listed among low-beta, dividend-paying stocks that could offer defensive characteristics during September volatility, with improving earnings estimates cited as a supporting factor. Buy 5 Stocks to Stay Safe in Wall Street’s Historically Worst Month
- Neutral Sentiment: Comparisons with Tokio Marine focus on relative valuation and value-investing characteristics rather than a new company-specific catalyst. ALL or TKOMY: Which Is the Better Value Stock Right Now?
- Neutral Sentiment: An Allstate driving-safety report ranking for Wichita provides local auto-insurance context but does not materially change the company’s financial outlook. How bad or good are Wichita drivers? See how the city ranks in Allstate report
- Negative Sentiment: Allstate shares have declined since the latest earnings report, prompting questions about whether the stock can rebound despite the company’s stronger-than-expected results. Allstate Down 4.4% Since Last Earnings Report: Can It Rebound?
- Negative Sentiment: A report that Tyler Perry paid an 81-year-old woman’s $18,000 repair bill after Allstate denied her claim could create reputational risk and renewed scrutiny of claims-handling practices, although it appears to be an isolated customer dispute. Tyler Perry pays 81-year-old woman’s $18K repair bill after Allstate denies claim
Analyst Upgrades and Downgrades
Check Out Our Latest Stock Analysis on Allstate
Allstate Price Performance
Shares of ALL stock opened at $259.43 on Friday. The company’s 50-day simple moving average is $256.91 and its two-hundred day simple moving average is $228.76. The company has a market capitalization of $65.60 billion, a P/E ratio of 5.18, a P/E/G ratio of 0.60 and a beta of 0.15. The Allstate Corporation has a one year low of $188.08 and a one year high of $277.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36.
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 business had revenue of $18.60 billion during the quarter, compared to analyst estimates of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%.Allstate’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the company posted $5.94 EPS. As a group, equities analysts anticipate that The Allstate Corporation will post 35.5 EPS for the current year.
Allstate Announces Dividend
The firm 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. This represents a $4.32 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Monday, August 31st. Allstate’s dividend payout ratio (DPR) is presently 8.63%.
Insiders Place Their Bets
In other news, COO Mario Rizzo sold 56,225 shares of the business’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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Dugenske sold 32,996 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider owned 13,054 shares of the company’s stock, valued at $3,515,833.82. This represents a 71.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.55% of the company’s stock.
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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