Hsbc Holdings PLC Increases Stake in The Allstate Corporation $ALL

Hsbc Holdings PLC raised its holdings in shares of The Allstate Corporation (NYSE:ALL) by 8.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,141,943 shares of the insurance provider’s stock after purchasing an additional 85,808 shares during the quarter. Hsbc Holdings PLC owned approximately 0.44% of Allstate worth $238,232,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ALL. Norges Bank bought a new stake in shares of Allstate in the fourth quarter valued at approximately $531,294,000. GQG Partners LLC boosted its holdings in Allstate by 36.0% in the 4th quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock worth $1,142,449,000 after buying an additional 1,452,993 shares during the period. Franklin Resources Inc. grew its stake in Allstate by 29.2% in the 4th quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock valued at $1,042,321,000 after buying an additional 1,131,172 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Allstate by 1,766.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 869,139 shares of the insurance provider’s stock valued at $180,911,000 after buying an additional 822,583 shares in the last quarter. Finally, Woodline Partners LP bought a new stake in Allstate during the 3rd quarter valued at $148,641,000. Institutional investors own 76.47% of the company’s stock.

Analysts Set New Price Targets

ALL has been the topic of several recent research reports. Piper Sandler restated an “overweight” rating on shares of Allstate in a research report on Thursday, May 28th. Raymond James Financial reiterated a “strong-buy” rating and issued a $260.00 price target on shares of Allstate in a research report on Tuesday, March 3rd. Citigroup boosted their price objective on Allstate from $221.00 to $226.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Wall Street Zen downgraded Allstate from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Mizuho decreased their price target on Allstate from $281.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, March 20th. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $240.33.

Insider Activity

In related news, COO Mario Rizzo sold 18,578 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $218.80, for a total value of $4,064,866.40. Following the transaction, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $17,991,267.60. This represents a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of the firm’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 completion of the sale, the insider directly owned 27,558 shares in the company, valued at $5,959,968.66. This represents a 5.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 22,353 shares of company stock worth $4,851,560. 1.55% of the stock is currently owned by insiders.

Allstate Trading Down 0.2%

Allstate stock opened at $220.72 on Friday. The stock has a market cap of $56.82 billion, a P/E ratio of 4.87, a PEG ratio of 0.40 and a beta of 0.18. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $227.62. The firm’s fifty day moving average price is $215.95 and its 200-day moving average price is $209.23. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter last year, the business posted $3.53 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. Equities research analysts forecast that The Allstate Corporation will post 29.43 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a $1.08 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $4.32 annualized dividend and a dividend yield of 2.0%. Allstate’s dividend payout ratio (DPR) is presently 9.53%.

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.