Financiere des Professionnels Fonds d investissement inc. Acquires 15,303 Shares of The Allstate Corporation $ALL

Financiere des Professionnels Fonds d investissement inc. grew its holdings in The Allstate Corporation (NYSE:ALL) by 415.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,986 shares of the insurance provider’s stock after purchasing an additional 15,303 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.’s holdings in Allstate were worth $3,952,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ALL. Brighton Jones LLC raised its holdings in shares of Allstate by 60.2% in the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock valued at $1,253,000 after purchasing an additional 2,443 shares in the last quarter. Revolve Wealth Partners LLC bought a new stake in shares of Allstate in the 4th quarter valued at about $231,000. WINTON GROUP Ltd bought a new stake in shares of Allstate in the 2nd quarter valued at about $210,000. Treasurer of the State of North Carolina raised its holdings in shares of Allstate by 2.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 123,272 shares of the insurance provider’s stock valued at $24,816,000 after purchasing an additional 3,051 shares in the last quarter. Finally, Ieq Capital LLC raised its holdings in shares of Allstate by 20.1% in the 2nd quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider’s stock valued at $7,713,000 after purchasing an additional 6,412 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

ALL has been the subject of several recent analyst reports. Citigroup boosted their price objective on shares of Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Piper Sandler reissued an “overweight” rating on shares of Allstate in a research report on Thursday, May 28th. Raymond James Financial reissued a “strong-buy” rating and set a $260.00 target price on shares of Allstate in a research report on Tuesday, March 3rd. Wells Fargo & Company increased their target price on shares of Allstate from $229.00 to $243.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $231.00 target price on shares of Allstate in a research report on Thursday, March 5th. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and an average price target of $240.33.

Allstate Trading Up 2.9%

NYSE:ALL opened at $223.45 on Thursday. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $227.62. The firm has a 50 day moving average of $214.08 and a 200 day moving average of $208.82. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $57.52 billion, a price-to-earnings ratio of 4.93, a PEG ratio of 0.39 and a beta of 0.18.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping the consensus estimate of $7.31 by $3.34. The company had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. Allstate’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.53 EPS. As a group, sell-side analysts anticipate that The Allstate Corporation will post 29.43 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, June 1st. Allstate’s payout ratio is currently 9.53%.

Insiders Place Their Bets

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the sale, the insider owned 27,558 shares of the company’s stock, valued at approximately $5,959,968.66. The trade was a 5.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Andrea Redmond sold 2,225 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following the sale, the director directly owned 2,225 shares in the company, valued at approximately $451,474.75. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 22,353 shares of company stock valued at $4,851,560. Insiders own 1.55% of the company’s stock.

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.