Man Group plc bought a new stake in The Allstate Corporation (NYSE:ALL – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 57,089 shares of the insurance provider’s stock, valued at approximately $13,584,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Coldstream Capital Management Inc. grew its holdings in shares of Allstate by 0.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider’s stock worth $1,625,000 after purchasing an additional 50 shares during the last quarter. Compound Planning Inc. boosted its position in shares of Allstate by 1.6% in the 4th quarter. Compound Planning Inc. now owns 3,216 shares of the insurance provider’s stock valued at $669,000 after purchasing an additional 50 shares during the period. Cullen Frost Bankers Inc. boosted its position in shares of Allstate by 0.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider’s stock valued at $1,210,000 after purchasing an additional 52 shares during the period. Root Financial Partners LLC grew its stake in Allstate by 4.7% during the 1st quarter. Root Financial Partners LLC now owns 1,170 shares of the insurance provider’s stock worth $243,000 after buying an additional 53 shares during the last quarter. Finally, Montag A & Associates Inc. increased its position in Allstate by 10.2% during the fourth quarter. Montag A & Associates Inc. now owns 596 shares of the insurance provider’s stock worth $125,000 after buying an additional 55 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on ALL. Citigroup cut shares of Allstate from a “neutral” rating to a “sell” rating and lifted their target price for the company from $226.00 to $240.00 in a report on Tuesday, August 11th. Roth Capital set a $300.00 target price on Allstate in a research note on Thursday, August 6th. Cantor Fitzgerald raised their price objective on shares of Allstate from $236.00 to $242.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Wells Fargo & Company downgraded Allstate from an “equal weight” rating to an “underweight” rating and boosted their target price for the stock from $243.00 to $250.00 in a research report on Friday, August 7th. Finally, Barclays upped their price target on shares of Allstate from $213.00 to $226.00 and gave the company an “underweight” rating in a report on Thursday, August 6th. Four investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $265.26.
Insider Buying and Selling at Allstate
In other Allstate news, Director Andrea Redmond sold 2,225 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following the transaction, the director owned 2,225 shares in the company, valued at $451,474.75. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John E. Dugenske sold 32,996 shares of the firm’s stock in a transaction dated 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 sale, the insider owned 13,054 shares in the company, valued at approximately $3,515,833.82. The trade was a 71.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 91,446 shares of company stock valued at $24,208,675 over the last three months. 1.55% of the stock is owned by company insiders.
Allstate Stock Performance
NYSE:ALL opened at $257.24 on Friday. The company has a market cap of $65.05 billion, a P/E ratio of 5.14, a P/E/G ratio of 0.40 and a beta of 0.16. The firm’s 50 day moving average is $253.33 and its two-hundred day moving average is $226.56. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $277.22. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24.
Allstate (NYSE:ALL – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, topping analysts’ consensus estimates of $6.06 by $2.93. The business had revenue of $18.60 billion during the quarter, compared to the consensus estimate of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm posted $5.94 EPS. Analysts expect that The Allstate Corporation will post 34.45 EPS for the current year.
Allstate Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be given a $1.08 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. Allstate’s dividend payout ratio is presently 8.63%.
About Allstate
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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