NEOS Investment Management LLC Raises Holdings in The Allstate Corporation $ALL

NEOS Investment Management LLC boosted its stake in shares of The Allstate Corporation (NYSE:ALL) by 50.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,905 shares of the insurance provider’s stock after acquiring an additional 8,643 shares during the quarter. NEOS Investment Management LLC’s holdings in Allstate were worth $5,561,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ALL. Harbor Capital Advisors Inc. increased its holdings in Allstate by 79.7% in the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock valued at $27,000 after buying an additional 55 shares in the last quarter. Barnes Dennig Private Wealth Management LLC increased its stake in shares of Allstate by 112.3% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 73 shares in the last quarter. Clearstead Trust LLC increased its stake in shares of Allstate by 3,800.0% in the 2nd quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 152 shares in the last quarter. Armstrong Advisory Group Inc. raised its holdings in Allstate by 72.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 67 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its position in Allstate by 315.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 126 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

ALL has been the subject of several research analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating and set a $238.00 target price on shares of Allstate in a research note on Saturday, February 7th. TD Cowen cut shares of Allstate from a “buy” rating to a “hold” rating in a research report on Monday, January 12th. Roth Mkm lifted their target price on shares of Allstate from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Keefe, Bruyette & Woods upped their price target on shares of Allstate from $254.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 10th. Finally, Citigroup raised their target price on Allstate from $216.00 to $221.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $239.35.

Allstate Trading Down 1.3%

Shares of NYSE:ALL opened at $209.58 on Thursday. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $216.75. The company has a current ratio of 0.37, a quick ratio of 0.43 and a debt-to-equity ratio of 0.26. The company has a market cap of $54.84 billion, a PE ratio of 5.49, a P/E/G ratio of 0.45 and a beta of 0.23. The company’s 50 day moving average is $204.07 and its two-hundred day moving average is $204.39.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, topping the consensus estimate of $8.72 by $5.59. The business had revenue of $14.57 billion during the quarter, compared to the consensus estimate of $17.23 billion. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $7.67 EPS. Equities analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Monday, March 2nd. This is a positive change from Allstate’s previous quarterly dividend of $1.00. Allstate’s payout ratio is 10.47%.

Insider Buying and Selling at Allstate

In related news, insider Suren Gupta sold 21,871 shares of Allstate stock in a transaction on Friday, November 21st. The shares were sold at an average price of $215.21, for a total value of $4,706,857.91. Following the transaction, the insider directly owned 100,646 shares in the company, valued at $21,660,025.66. This trade represents a 17.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders sold 46,600 shares of company stock valued at $9,926,140. Company insiders own 1.70% of the company’s stock.

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.