Truist Financial Corp Acquires 5,542 Shares of The Allstate Corporation $ALL

Truist Financial Corp grew its stake in The Allstate Corporation (NYSE:ALL) by 4.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,461 shares of the insurance provider’s stock after purchasing an additional 5,542 shares during the quarter. Truist Financial Corp’s holdings in Allstate were worth $26,501,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Avantax Advisory Services Inc. increased its stake in shares of Allstate by 3.1% in the 2nd quarter. Avantax Advisory Services Inc. now owns 23,573 shares of the insurance provider’s stock valued at $4,745,000 after purchasing an additional 704 shares during the last quarter. Knights of Columbus Asset Advisors LLC raised its holdings in Allstate by 3.8% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 53,802 shares of the insurance provider’s stock valued at $10,831,000 after buying an additional 1,959 shares during the last quarter. Commonwealth Retirement Investments LLC raised its stake in shares of Allstate by 103.5% during the second quarter. Commonwealth Retirement Investments LLC now owns 12,960 shares of the insurance provider’s stock valued at $2,609,000 after acquiring an additional 6,590 shares during the last quarter. Davis Capital Management bought a new position in Allstate during the 3rd quarter worth $2,767,000. Finally, First Horizon Corp acquired a new stake in shares of Allstate in the third quarter valued at about $11,109,000. Institutional investors own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ALL shares. Roth Mkm increased their price objective on shares of Allstate from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, November 26th. JPMorgan Chase & Co. increased their price target on Allstate from $254.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allstate in a research note on Wednesday, January 21st. Zacks Research lowered Allstate from a “strong-buy” rating to a “hold” rating in a report on Friday, December 19th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $215.00 price target (down from $245.00) on shares of Allstate in a research report on Tuesday, December 16th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Allstate currently has an average rating of “Moderate Buy” and an average target price of $236.19.

Allstate Trading Up 0.3%

Shares of ALL stock opened at $198.89 on Friday. The company’s fifty day simple moving average is $204.57 and its two-hundred day simple moving average is $203.34. The stock has a market capitalization of $52.05 billion, a price-to-earnings ratio of 6.44, a PEG ratio of 0.43 and a beta of 0.24. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.43 and a quick ratio of 0.43. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $215.89.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, November 5th. The insurance provider reported $11.17 EPS for the quarter, topping the consensus estimate of $5.48 by $5.69. Allstate had a return on equity of 35.42% and a net margin of 12.53%.The business had revenue of $17.26 billion during the quarter, compared to the consensus estimate of $16.59 billion. During the same quarter last year, the company earned $3.91 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. As a group, analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were issued a $1.00 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. Allstate’s dividend payout ratio is presently 12.95%.

Insiders Place Their Bets

In other Allstate news, insider Suren Gupta sold 21,871 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $215.21, for a total value of $4,706,857.91. Following the sale, the insider owned 100,646 shares of the company’s stock, valued at $21,660,025.66. This trade represents a 17.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders sold 48,400 shares of company stock valued at $10,313,256. 1.70% of the stock is owned by corporate insiders.

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.