PYA Waltman Capital LLC lifted its stake in The Allstate Corporation (NYSE:ALL – Free Report) by 35.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 19,318 shares of the insurance provider’s stock after purchasing an additional 5,012 shares during the period. Allstate makes up about 1.1% of PYA Waltman Capital LLC’s investment portfolio, making the stock its 21st biggest position. PYA Waltman Capital LLC’s holdings in Allstate were worth $4,596,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Allstate in the 2nd quarter valued at $5,439,448,000. Bank of America Corp DE purchased a new position in shares of Allstate during the 2nd quarter worth $1,410,362,000. GQG Partners LLC purchased a new position in shares of Allstate during the 2nd quarter worth $1,245,710,000. Deutsche Bank AG acquired a new position in shares of Allstate during the 2nd quarter valued at about $1,008,648,000. Finally, Norges Bank acquired a new position in shares of Allstate during the 4th quarter valued at about $531,294,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.
Insider Activity at Allstate
In related news, COO Mario Rizzo sold 56,225 shares of Allstate stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total value of $14,870,388.00. Following the completion of the sale, the chief operating officer owned 82,227 shares in the company, valued at approximately $21,747,396.96. This trade represents a 40.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John E. Dugenske sold 32,996 shares of the business’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 completion of the sale, the insider directly owned 13,054 shares in the company, valued at approximately $3,515,833.82. The trade was a 71.65% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.55% of the company’s stock.
Allstate Stock Performance
Allstate (NYSE:ALL – Get Free Report) last posted its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, beating analysts’ consensus estimates of $6.06 by $2.93. The company had revenue of $18.60 billion for the quarter, compared to analysts’ expectations of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. Allstate’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.94 earnings per share. Equities analysts anticipate that The Allstate Corporation will post 34.78 earnings per share for the current year.
Allstate Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, August 31st. Allstate’s payout ratio is 8.63%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. Wells Fargo & Company cut shares of Allstate from an “equal weight” rating to an “underweight” rating and raised their price objective for the stock from $243.00 to $250.00 in a research report on Friday, August 7th. Argus set a $238.00 target price on shares of Allstate in a report on Friday. Roth Capital set a $300.00 price target on shares of Allstate in a research note on Thursday, August 6th. UBS Group raised their price target on shares of Allstate from $261.00 to $275.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Finally, Piper Sandler lifted their price target on shares of Allstate from $268.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. Four investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, Allstate has an average rating of “Hold” and a consensus price target of $263.90.
Check Out Our Latest Stock Analysis on ALL
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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