Van Hulzen Asset Management LLC Acquires Shares of 3,060 The Allstate Corporation $ALL

Van Hulzen Asset Management LLC bought a new stake in The Allstate Corporation (NYSE:ALL) in the second quarter, Holdings Channel reports. The institutional investor bought 3,060 shares of the insurance provider’s stock, valued at approximately $728,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ALL. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Allstate by 5.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552,120 shares of the insurance provider’s stock valued at $112,533,000 after purchasing an additional 26,586 shares during the period. Strategic Global Advisors LLC lifted its holdings in shares of Allstate by 19.2% during the fourth quarter. Strategic Global Advisors LLC now owns 48,882 shares of the insurance provider’s stock worth $10,175,000 after purchasing an additional 7,870 shares during the period. Elevation Point Wealth Partners LLC grew its position in Allstate by 130.9% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 19,288 shares of the insurance provider’s stock valued at $4,016,000 after buying an additional 10,936 shares during the last quarter. CIBC Asset Management Inc grew its position in Allstate by 69.2% in the 4th quarter. CIBC Asset Management Inc now owns 63,011 shares of the insurance provider’s stock valued at $13,116,000 after buying an additional 25,764 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Allstate by 8.1% in the 1st quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock valued at $1,640,748,000 after buying an additional 596,321 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

ALL has been the subject of a number of analyst reports. Wells Fargo & Company downgraded shares of Allstate from an “equal weight” rating to an “underweight” rating and upped their price objective for the stock from $243.00 to $250.00 in a research report on Friday, August 7th. Morgan Stanley set a $265.00 target price on shares of Allstate in a report on Tuesday, August 11th. Zacks Research raised shares of Allstate from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th. HSBC downgraded shares of Allstate from a “buy” rating to a “hold” rating and raised their price objective for the company from $244.00 to $264.00 in a research report on Monday, July 6th. Finally, JPMorgan Chase & Co. boosted their target price on Allstate from $282.00 to $292.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Four analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, Allstate presently has a consensus rating of “Hold” and an average target price of $265.26.

Allstate Stock Performance

Shares of ALL opened at $260.35 on Tuesday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $277.22. The company has a 50-day simple moving average of $251.11 and a 200-day simple moving average of $225.53. The company has a market capitalization of $65.83 billion, a PE ratio of 5.20, a P/E/G ratio of 0.39 and a beta of 0.16.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, topping analysts’ consensus estimates of $6.06 by $2.93. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The firm had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $15.46 billion. During the same quarter in the previous year, the firm earned $5.94 earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis. Equities research analysts predict that The Allstate Corporation will post 34.45 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate’s dividend payout ratio (DPR) is presently 8.63%.

Insider Transactions at Allstate

In other news, 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 owned 2,225 shares of the company’s stock, valued at $451,474.75. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John E. Dugenske sold 32,996 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $269.33, for a total value of $8,886,812.68. Following the completion of the sale, the insider owned 13,054 shares in the company, valued at approximately $3,515,833.82. This represents a 71.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 91,446 shares of company stock valued at $24,208,675 in the last quarter. 1.55% of the stock is currently owned by corporate insiders.

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.