Jefferies Financial Group Inc. Acquires New Stake in The Allstate Corporation $ALL

Jefferies Financial Group Inc. bought a new position in The Allstate Corporation (NYSE:ALL) in the second quarter, Holdings Channel.com reports. The fund bought 5,272 shares of the insurance provider’s stock, valued at approximately $1,254,000.

Several other hedge funds also recently modified their holdings of ALL. Gables Capital Management Inc. acquired a new stake in Allstate in the 2nd quarter valued at about $26,000. Allied Private Wealth LLC acquired a new position in shares of Allstate in the 2nd quarter worth approximately $29,000. Kelleher Financial Advisors bought a new stake in shares of Allstate in the 2nd quarter worth approximately $28,000. MV Capital Management Inc. acquired a new stake in Allstate during the fourth quarter valued at approximately $25,000. Finally, Navalign LLC acquired a new stake in Allstate during the fourth quarter valued at approximately $27,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Mario Rizzo sold 56,225 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the completion of the transaction, the chief operating officer owned 82,227 shares in the company, valued at approximately $21,747,396.96. The trade was a 40.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 sale, the insider directly owned 13,054 shares in the company, valued at $3,515,833.82. The trade was a 71.65% decrease in their position. The SEC filing for this sale provides additional information. 1.55% of the stock is currently owned by insiders.

Allstate Stock Up 0.2%

NYSE ALL opened at $261.17 on Monday. The stock’s 50 day moving average is $254.14 and its two-hundred day moving average is $227.00. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $66.04 billion, a price-to-earnings ratio of 5.22, a PEG ratio of 0.40 and a beta of 0.16. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $277.22.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $15.46 billion. During the same period in the prior year, the firm earned $5.94 earnings per share. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. Equities analysts forecast that The Allstate Corporation will post 34.45 earnings per share for the current fiscal year.

Allstate Dividend Announcement

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 $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate’s dividend payout ratio (DPR) is currently 8.63%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Morgan Stanley set a $265.00 price target on shares of Allstate in a research report on Tuesday, August 11th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $280.00 target price on shares of Allstate in a research report on Friday, August 7th. Weiss Ratings cut shares of Allstate from a “buy (a)” rating to a “buy (a-)” rating in a report on Tuesday, August 25th. HSBC downgraded Allstate from a “buy” rating to a “hold” rating and boosted their target price for the company from $244.00 to $264.00 in a research note on Monday, July 6th. Finally, Piper Sandler increased their price target on shares of Allstate from $268.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, August 10th. Four equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $263.90.

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.