Heritage Trust Co bought a new position in shares of The Allstate Corporation (NYSE:ALL – Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,992 shares of the insurance provider’s stock, valued at approximately $831,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dorato Capital Management acquired a new stake in Allstate during the fourth quarter worth about $27,000. Navalign LLC acquired a new stake in Allstate during the fourth quarter worth about $27,000. Princeton Global Asset Management LLC grew its holdings in Allstate by 101.3% during the fourth quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 76 shares during the period. Palisade Asset Management LLC acquired a new stake in Allstate during the third quarter worth about $31,000. Finally, South Plains Financial Inc. grew its holdings in Allstate by 41.5% during the third quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 49 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts recently commented on ALL shares. Weiss Ratings raised Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, March 23rd. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $231.00 target price on shares of Allstate in a report on Thursday, March 5th. Keefe, Bruyette & Woods increased their price target on Allstate from $260.00 to $266.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. increased their price target on Allstate from $260.00 to $263.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Finally, Zacks Research downgraded Allstate from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.67.
Insider Activity
In other news, insider Mark Q. Prindiville sold 1,550 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the transaction, the insider owned 27,558 shares in the company, valued at $5,959,968.66. This trade represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Mario Rizzo sold 18,578 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $218.80, for a total value of $4,064,866.40. Following the completion of the transaction, the chief operating officer owned 82,227 shares in the company, valued at approximately $17,991,267.60. This trade represents a 18.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 22,353 shares of company stock worth $4,851,560 over the last quarter. 1.55% of the stock is currently owned by corporate insiders.
Allstate Stock Performance
Shares of ALL stock opened at $210.94 on Wednesday. The company has a market capitalization of $54.30 billion, a P/E ratio of 4.65, a P/E/G ratio of 0.37 and a beta of 0.18. The business’s 50 day moving average is $212.78 and its two-hundred day moving average is $208.59. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $227.62.
Allstate (NYSE:ALL – Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. The company had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.Allstate’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.53 earnings per share. Analysts expect that The Allstate Corporation will post 29.43 EPS for the current fiscal year.
Allstate Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, June 1st. Allstate’s dividend payout ratio (DPR) is 9.53%.
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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