NEOS Investment Management LLC Increases Stock Position in The Allstate Corporation $ALL

NEOS Investment Management LLC raised its stake in shares of The Allstate Corporation (NYSE:ALLFree 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:

Analyst Upgrades and Downgrades

ALL has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Allstate from $282.00 to $292.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. UBS Group boosted their price objective on Allstate from $261.00 to $275.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Mizuho upped their price objective on Allstate from $255.00 to $272.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $280.00 price objective on shares of Allstate in a research note on Friday, August 7th. Finally, Zacks Research upgraded Allstate from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th. Four research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $263.90.

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:ALLGet 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

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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