Invst LLC Takes $1.44 Million Position in The Allstate Corporation $ALL

Invst LLC bought a new stake in The Allstate Corporation (NYSE:ALL) in the 2nd quarter, Holdings Channel.com reports. The firm bought 6,070 shares of the insurance provider’s stock, valued at approximately $1,444,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Coldstream Capital Management Inc. raised its stake in Allstate by 0.6% in the fourth quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider’s stock valued at $1,625,000 after buying an additional 50 shares during the period. Compound Planning Inc. boosted its stake in shares of Allstate by 1.6% during the 4th quarter. Compound Planning Inc. now owns 3,216 shares of the insurance provider’s stock worth $669,000 after acquiring an additional 50 shares during the period. Cullen Frost Bankers Inc. increased its holdings in shares of Allstate by 0.9% during the 4th quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider’s stock worth $1,210,000 after acquiring an additional 52 shares during the last quarter. Root Financial Partners LLC increased its holdings in shares of Allstate by 4.7% during the 1st quarter. Root Financial Partners LLC now owns 1,170 shares of the insurance provider’s stock worth $243,000 after acquiring an additional 53 shares during the last quarter. Finally, Montag A & Associates Inc. raised its stake in Allstate by 10.2% in the 4th quarter. Montag A & Associates Inc. now owns 596 shares of the insurance provider’s stock valued at $125,000 after acquiring an additional 55 shares during the period. Institutional investors own 76.47% of the company’s stock.

Allstate Stock Performance

Shares of NYSE:ALL opened at $257.72 on Wednesday. The company’s 50 day moving average price is $251.80 and its two-hundred day moving average price is $225.88. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $277.22. The firm has a market cap of $65.17 billion, a PE ratio of 5.15, a PEG ratio of 0.40 and a beta of 0.16. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24.

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

Allstate Dividend Announcement

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

Insider Buying and Selling at Allstate

In other news, Director Andrea Redmond sold 2,225 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $451,474.75. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John E. Dugenske sold 32,996 shares of the firm’s stock in a transaction 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 transaction, the insider owned 13,054 shares in the company, valued at $3,515,833.82. The trade was a 71.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 91,446 shares of company stock valued at $24,208,675 in the last three months. Corporate insiders own 1.55% of the company’s stock.

Analyst Ratings Changes

ALL has been the subject of several research reports. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $250.00 price target (down from $255.00) on shares of Allstate in a report on Thursday, August 20th. Citigroup lowered shares of Allstate from a “neutral” rating to a “sell” rating and increased their price objective for the company from $226.00 to $240.00 in a research report on Tuesday, August 11th. HSBC cut shares of Allstate from a “buy” rating to a “hold” rating and raised their target price for the stock from $244.00 to $264.00 in a research note on Monday, July 6th. Wells Fargo & Company downgraded shares of Allstate from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $243.00 to $250.00 in a report on Friday, August 7th. Finally, Piper Sandler upped their price target on shares of Allstate from $268.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. Four analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $265.26.

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.