National Pension Service increased its stake in shares of The Allstate Corporation (NYSE:ALL – Free Report) by 3.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 544,451 shares of the insurance provider’s stock after acquiring an additional 16,940 shares during the quarter. National Pension Service’s holdings in Allstate were worth $129,547,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. MV Capital Management Inc. purchased a new position in Allstate during the 4th quarter worth $25,000. Gables Capital Management Inc. bought a new stake in shares of Allstate in the 2nd quarter worth $26,000. Navalign LLC purchased a new stake in shares of Allstate in the fourth quarter valued at about $27,000. Kelleher Financial Advisors bought a new position in shares of Allstate during the second quarter valued at about $28,000. Finally, Evolution Wealth Management Inc. lifted its position in shares of 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 owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on ALL shares. Zacks Research raised shares of Allstate from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. Argus set a $238.00 target price on shares of Allstate in a research report on Friday, August 28th. Barclays boosted their target price on Allstate from $213.00 to $226.00 and gave the stock an “underweight” rating in a research note on Thursday, August 6th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $250.00 price target (down from $255.00) on shares of Allstate in a research report on Thursday, August 20th. Finally, Morgan Stanley set a $265.00 price target on Allstate in a report on Tuesday, August 11th. Four analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Allstate presently has a consensus rating of “Hold” and an average price target of $263.90.
Allstate Stock Performance
NYSE ALL opened at $252.11 on Friday. The company has a market capitalization of $63.75 billion, a PE ratio of 5.03, a price-to-earnings-growth ratio of 0.57 and a beta of 0.15. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.36 and a current ratio of 0.36. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $277.22. The company has a 50-day simple moving average of $257.84 and a 200 day simple moving average of $230.23.
Allstate (NYSE:ALL – Get Free Report) last released 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. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The firm had revenue of $18.60 billion for the quarter, compared to analysts’ expectations of $15.46 billion. During the same period in the previous year, the company earned $5.94 earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis. On average, research analysts predict that The Allstate Corporation will post 35.5 EPS for the current year.
Allstate Dividend Announcement
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 paid a $1.08 dividend. The ex-dividend date is Monday, August 31st. This represents a $4.32 annualized dividend and a yield of 1.7%. Allstate’s dividend payout ratio is presently 8.63%.
Insider Buying and Selling at Allstate
In other Allstate news, COO Mario Rizzo sold 56,225 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total transaction 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. This represents a 40.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Dugenske sold 32,996 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $269.33, for a total value of $8,886,812.68. Following the completion of the sale, the insider directly 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. 1.55% of the stock is currently owned by corporate insiders.
Allstate Profile
Allstate Corporation is an insurance and protection-services company headquartered in Northbrook, Illinois. Through its Allstate and National General brands, the company primarily provides property and casualty insurance to individuals and businesses in the United States.
Its products include automobile, homeowners, renters, condominium, landlord, motorcycle and recreational-vehicle insurance, along with other personal and commercial coverage. Allstate also offers roadside assistance, identity protection and related protection services through its various businesses and distribution channels, including agents, brokers and digital platforms.
Allstate’s roots date to 1931, when the Allstate Insurance Company was established as a subsidiary of Sears, Roebuck & Co The company became independent from Sears in the 1990s.
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