Intact Investment Management Inc. Invests $1.04 Million in The Allstate Co. (NYSE:ALL)

Intact Investment Management Inc. purchased a new position in The Allstate Co. (NYSE:ALL) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,500 shares of the insurance provider’s stock, valued at approximately $1,038,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALL. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Allstate during the first quarter valued at approximately $25,000. Private Wealth Management Group LLC purchased a new stake in shares of Allstate in the 4th quarter worth $25,000. Rise Advisors LLC bought a new position in shares of Allstate during the 1st quarter worth $26,000. Northwest Investment Counselors LLC purchased a new position in shares of Allstate during the first quarter valued at $26,000. Finally, Versant Capital Management Inc increased its stake in shares of Allstate by 70.9% during the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after buying an additional 78 shares during the period. Institutional investors own 76.47% of the company’s stock.

Allstate Stock Performance

Allstate stock traded up $1.50 during trading hours on Friday, hitting $188.94. 1,430,560 shares of the stock traded hands, compared to its average volume of 1,569,705. The firm’s 50 day moving average price is $171.02 and its 200-day moving average price is $167.19. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market capitalization of $49.86 billion, a price-to-earnings ratio of 41.71, a P/E/G ratio of 1.86 and a beta of 0.48. The Allstate Co. has a 1 year low of $105.57 and a 1 year high of $189.26.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $1.28. The company had revenue of $15.71 billion during the quarter, compared to analyst estimates of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. Allstate’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the firm posted ($4.42) EPS. As a group, equities analysts expect that The Allstate Co. will post 13.64 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be paid a dividend of $0.92 per share. The ex-dividend date is Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.95%. Allstate’s payout ratio is currently 81.24%.

Insider Activity

In related news, CEO Thomas J. Wilson sold 90,000 shares of Allstate stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the completion of the transaction, the chief executive officer now directly owns 88,552 shares in the company, valued at $15,880,915.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Elizabeth Brady sold 49,481 shares of Allstate stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $179.09, for a total value of $8,861,552.29. Following the completion of the transaction, the executive vice president now owns 19,163 shares in the company, valued at approximately $3,431,901.67. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the sale, the chief executive officer now owns 88,552 shares of the company’s stock, valued at $15,880,915.68. The disclosure for this sale can be found here. Insiders sold a total of 201,938 shares of company stock valued at $36,122,740 in the last quarter. 1.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Piper Sandler raised their target price on shares of Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Bank of America lifted their price objective on shares of Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company lowered their target price on Allstate from $177.00 to $175.00 and set an “equal weight” rating for the company in a report on Friday, August 16th. Keefe, Bruyette & Woods boosted their price target on Allstate from $199.00 to $208.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. Finally, Morgan Stanley dropped their price objective on Allstate from $205.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $191.94.

Allstate Company Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.