Principal Financial Group Inc. Grows Stock Holdings in The Allstate Corporation $ALL

Principal Financial Group Inc. lifted its holdings in The Allstate Corporation (NYSE:ALL) by 1.2% in the 1st quarter, Holdings Channel.com reports. The fund owned 317,464 shares of the insurance provider’s stock after buying an additional 3,783 shares during the quarter. Principal Financial Group Inc.’s holdings in Allstate were worth $65,823,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC lifted its stake in shares of Allstate by 60.2% during the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock worth $1,253,000 after purchasing an additional 2,443 shares in the last quarter. Revolve Wealth Partners LLC purchased a new stake in shares of Allstate during the 4th quarter valued at about $231,000. WINTON GROUP Ltd acquired a new position in Allstate during the 2nd quarter worth approximately $210,000. Treasurer of the State of North Carolina boosted its holdings in 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 worth $24,816,000 after acquiring an additional 3,051 shares during the period. Finally, Ieq Capital LLC boosted its holdings in Allstate by 20.1% in the 2nd quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider’s stock worth $7,713,000 after acquiring an additional 6,412 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analysts Set New Price Targets

ALL has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Allstate from $263.00 to $282.00 and gave the company an “overweight” rating in a research note on Tuesday. Wells Fargo & Company raised their price target on shares of Allstate from $229.00 to $243.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Atlantic Securities set a $319.00 price target on shares of Allstate in a research note on Wednesday. Raymond James Financial upped their price objective on shares of Allstate from $260.00 to $300.00 and gave the company a “strong-buy” rating in a research report on Monday, July 6th. Finally, Wall Street Zen downgraded Allstate from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Three research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.05.

Insider Buying and Selling

In other Allstate news, COO Mario Rizzo sold 18,578 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the sale, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at approximately $17,991,267.60. This represents a 18.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the transaction, the insider owned 27,558 shares in the company, valued at approximately $5,959,968.66. The trade was a 5.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 22,353 shares of company stock worth $4,851,560 over the last ninety days. 1.55% of the stock is owned by insiders.

Allstate Stock Performance

Shares of ALL stock opened at $241.19 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a market capitalization of $62.09 billion, a price-to-earnings ratio of 5.32, a PEG ratio of 0.42 and a beta of 0.16. The Allstate Corporation has a one year low of $188.08 and a one year high of $257.67. The company’s 50-day simple moving average is $226.55 and its 200-day simple moving average is $214.11.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.31 by $3.34. The firm had revenue of $16.94 billion for the quarter, compared to analysts’ expectations of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.Allstate’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.53 earnings per share. Equities analysts anticipate that The Allstate Corporation will post 29.99 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be paid a dividend of $1.08 per share. The ex-dividend date is Monday, August 31st. This represents a $4.32 annualized dividend and a yield of 1.8%. Allstate’s dividend payout ratio (DPR) is 9.53%.

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.