Meeder Asset Management Inc. Boosts Stake in The Allstate Corporation $ALL

Meeder Asset Management Inc. boosted its stake in shares of The Allstate Corporation (NYSE:ALL) by 82,091.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,890 shares of the insurance provider’s stock after purchasing an additional 55,822 shares during the period. Meeder Asset Management Inc.’s holdings in Allstate were worth $11,588,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in Allstate by 5.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,804,615 shares of the insurance provider’s stock worth $581,515,000 after buying an additional 154,259 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Allstate by 11.9% during the 1st quarter. Parallel Advisors LLC now owns 8,615 shares of the insurance provider’s stock valued at $1,786,000 after purchasing an additional 919 shares during the period. Decker Wealth Management LLC purchased a new position in shares of Allstate during the 1st quarter valued at $270,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Allstate during the 1st quarter valued at $30,000. Finally, Little House Capital LLC bought a new position in Allstate in the 1st quarter worth $2,077,000. Institutional investors own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Evercore set a $240.00 price target on Allstate in a research note on Friday, July 10th. Citigroup upped their price objective on Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Mizuho increased their target price on Allstate from $255.00 to $272.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. Wall Street Zen raised Allstate from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Atlantic Securities set a $319.00 price target on Allstate in a report on Wednesday. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $254.80.

Insider Transactions at Allstate

In other news, COO Mario Rizzo sold 18,578 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $17,991,267.60. This represents a 18.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrea Redmond sold 2,225 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the completion of the transaction, the director directly owned 2,225 shares of the company’s stock, valued at approximately $451,474.75. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 22,353 shares of company stock worth $4,851,560 in the last three months. Insiders own 1.55% of the company’s stock.

Allstate Trading Down 0.0%

ALL stock opened at $249.84 on Monday. The firm has a fifty day moving average price of $227.29 and a 200 day moving average price of $214.40. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $257.67. 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 firm has a market cap of $64.31 billion, a PE ratio of 5.51, a price-to-earnings-growth ratio of 0.43 and a beta of 0.16.

Allstate (NYSE:ALL) last announced its quarterly 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. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The company had revenue of $16.94 billion for the quarter, compared to analysts’ expectations of $15.24 billion. During the same quarter in the previous year, the business posted $3.53 earnings per share. Allstate’s quarterly revenue was up 3.0% on a year-over-year basis. Sell-side analysts anticipate that The Allstate Corporation will post 30.4 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be issued a $1.08 dividend. The ex-dividend date is Monday, August 31st. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.7%. Allstate’s payout ratio is 9.53%.

About Allstate

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.