Live Oak Investment Partners acquired a new position in The Allstate Corporation (NYSE:ALL – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 11,701 shares of the insurance provider’s stock, valued at approximately $2,784,000. Allstate makes up about 1.5% of Live Oak Investment Partners’ investment portfolio, making the stock its 17th largest holding.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ALL. MV Capital Management Inc. purchased a new position in shares of Allstate in the 4th quarter worth approximately $25,000. Gables Capital Management Inc. bought a new position in shares of Allstate in the second quarter valued at approximately $26,000. Navalign LLC purchased a new stake in shares of Allstate during the fourth quarter valued at approximately $27,000. Kelleher Financial Advisors purchased a new stake in shares of Allstate during the second quarter valued at approximately $28,000. Finally, Evolution Wealth Management Inc. lifted its holdings in Allstate by 7,000.0% during the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 140 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on the stock. Wells Fargo & Company downgraded shares of Allstate from an “equal weight” rating to an “underweight” rating and boosted their price target for the stock from $243.00 to $250.00 in a report on Friday, August 7th. Zacks Research raised shares of Allstate from a “hold” rating to a “strong-buy” rating in a research report on Monday. Keefe, Bruyette & Woods boosted their target price on shares of Allstate from $242.00 to $255.00 and gave the company a “market perform” rating in a research note on Wednesday, July 8th. HSBC downgraded shares of Allstate from a “buy” rating to a “hold” rating and increased their target price for the company from $244.00 to $264.00 in a research report on Monday, July 6th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $280.00 price target on shares of Allstate in a research note on Friday, August 7th. Four research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Allstate currently has a consensus rating of “Hold” and an average target price of $265.53.
Insiders Place Their Bets
In related news, insider John E. Dugenske sold 32,996 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $269.33, for a total value of $8,886,812.68. Following the transaction, the insider directly owned 13,054 shares in the company, valued at approximately $3,515,833.82. This represents a 71.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the sale, the insider directly owned 27,558 shares in the company, valued at $5,959,968.66. This represents a 5.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 92,996 shares of company stock worth $24,543,894. Insiders own 1.55% of the company’s stock.
Allstate Trading Down 0.3%
NYSE:ALL opened at $260.24 on Thursday. The stock’s fifty day moving average price is $249.00 and its two-hundred day moving average price is $224.35. The company has a market cap of $65.80 billion, a P/E ratio of 5.20, a P/E/G ratio of 0.40 and a beta of 0.16. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $277.22.
Allstate (NYSE:ALL – Get Free Report) last issued its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, topping the consensus estimate of $6.06 by $2.93. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The business had revenue of $15.43 billion during the quarter, compared to the consensus estimate of $15.46 billion. During the same quarter last year, the company earned $5.94 EPS. The firm’s revenue was up 11.8% compared to the same quarter last year. As a group, analysts expect that The Allstate Corporation will post 34.5 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 paid a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 annualized dividend and a yield of 1.7%. Allstate’s dividend payout ratio (DPR) is currently 8.63%.
Allstate 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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