Rakuten Investment Management Inc. grew its stake in shares of The Allstate Corporation (NYSE:ALL – Free Report) by 13.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 34,501 shares of the insurance provider’s stock after buying an additional 4,173 shares during the period. Rakuten Investment Management Inc.’s holdings in Allstate were worth $7,199,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the stock. L2 Asset Management LLC increased its stake in Allstate by 6.7% during the fourth quarter. L2 Asset Management LLC now owns 1,305 shares of the insurance provider’s stock valued at $272,000 after acquiring an additional 82 shares during the period. Cynosure Group LLC bought a new position in Allstate during the fourth quarter valued at about $469,000. 71 West Capital Partners bought a new position in Allstate during the fourth quarter valued at about $305,000. University of Texas Texas AM Investment Management Co. bought a new position in Allstate during the fourth quarter valued at about $35,000. Finally, OMERS ADMINISTRATION Corp increased its stake in Allstate by 8.2% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 21,075 shares of the insurance provider’s stock valued at $4,387,000 after acquiring an additional 1,604 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on ALL. Piper Sandler reaffirmed an “overweight” rating on shares of Allstate in a report on Thursday, May 28th. Wall Street Zen downgraded shares of Allstate from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Mizuho reduced their price objective on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, March 20th. Weiss Ratings upgraded Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, March 23rd. Finally, Zacks Research cut Allstate from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Allstate currently has an average rating of “Moderate Buy” and a consensus price target of $240.33.
Insiders Place Their Bets
In other Allstate news, COO Mario Rizzo sold 18,578 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the sale, the chief operating officer owned 82,227 shares of the company’s stock, valued at $17,991,267.60. This represents a 18.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrea Redmond sold 2,225 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $202.91, for a total value of $451,474.75. Following the sale, the director owned 2,225 shares of the company’s stock, valued at approximately $451,474.75. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 22,353 shares of company stock valued at $4,851,560 in the last 90 days. 1.55% of the stock is currently owned by insiders.
Allstate Stock Performance
NYSE:ALL opened at $223.35 on Wednesday. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $227.62. The firm has a 50 day moving average of $215.29 and a 200-day moving average of $209.04. 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 stock has a market capitalization of $57.49 billion, a P/E ratio of 4.93, a price-to-earnings-growth ratio of 0.40 and a beta of 0.19.
Allstate (NYSE:ALL – Get Free Report) last posted its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The company had revenue of $16.94 billion during the quarter, compared to analysts’ expectations of $15.24 billion. During the same quarter in the previous year, the company posted $3.53 earnings per share. Allstate’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Allstate Corporation will post 29.43 EPS for the current fiscal year.
Allstate Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $4.32 dividend on an annualized basis and a yield of 1.9%. Allstate’s dividend payout ratio is currently 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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