Venture Visionary Partners LLC Increases Stake in The Allstate Corporation $ALL

Venture Visionary Partners LLC raised its stake in shares of The Allstate Corporation (NYSE:ALL) by 601.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,149 shares of the insurance provider’s stock after buying an additional 17,278 shares during the quarter. Venture Visionary Partners LLC’s holdings in Allstate were worth $4,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of ALL. Norges Bank purchased a new position in shares of Allstate in the fourth quarter valued at $531,294,000. GQG Partners LLC grew its holdings in shares of Allstate by 36.0% in the fourth quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock valued at $1,142,449,000 after purchasing an additional 1,452,993 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Allstate by 29.2% in the fourth quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock valued at $1,042,321,000 after purchasing an additional 1,131,172 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Allstate by 1,766.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 869,139 shares of the insurance provider’s stock valued at $180,911,000 after purchasing an additional 822,583 shares in the last quarter. Finally, Woodline Partners LP purchased a new position in shares of Allstate in the third quarter valued at $148,641,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Allstate

In other news, COO Mario Rizzo sold 18,578 shares of Allstate stock in a transaction on Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the sale, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $17,991,267.60. This trade represents a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrea Redmond sold 2,225 shares of Allstate stock in a transaction on Monday, June 1st. The stock was sold at an average price of $202.91, for a total value of $451,474.75. Following the sale, the director owned 2,225 shares of the company’s stock, valued at approximately $451,474.75. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 22,353 shares of company stock worth $4,851,560. 1.55% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ALL. Citigroup raised their target price on shares of Allstate from $221.00 to $226.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Mizuho cut their target price on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, March 20th. Wells Fargo & Company raised their target price 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. The Goldman Sachs Group restated a “neutral” rating and issued a $231.00 price target on shares of Allstate in a research report on Thursday, March 5th. Finally, Piper Sandler restated an “overweight” rating on shares of Allstate in a research report on Thursday, May 28th. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Allstate has a consensus rating of “Moderate Buy” and a consensus target price of $240.33.

Allstate Stock Down 0.0%

Shares of ALL opened at $221.54 on Tuesday. The company has a market cap of $57.03 billion, a PE ratio of 4.89, a P/E/G ratio of 0.40 and a beta of 0.19. The business has a fifty day moving average of $214.97 and a 200 day moving average of $208.98. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $227.62. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. The company had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.Allstate’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the company earned $3.53 earnings per share. On average, sell-side analysts expect that The Allstate Corporation will post 29.43 EPS for the current year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, June 1st. 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.