12,532 Shares in The Allstate Corporation $ALL Purchased by Grandfield & Dodd LLC

Grandfield & Dodd LLC bought a new position in The Allstate Corporation (NYSE:ALL) during the second quarter, Holdings Channel.com reports. The fund bought 12,532 shares of the insurance provider’s stock, valued at approximately $2,982,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in Allstate by 60.2% during the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock worth $1,253,000 after buying an additional 2,443 shares during the period. Revolve Wealth Partners LLC purchased a new stake in Allstate in the 4th quarter worth approximately $231,000. WINTON GROUP Ltd purchased a new stake in shares of Allstate during the second quarter worth $210,000. Treasurer of the State of North Carolina lifted its holdings in shares of Allstate by 2.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 123,272 shares of the insurance provider’s stock valued at $24,816,000 after buying an additional 3,051 shares during the last quarter. Finally, Ieq Capital LLC lifted its stake in Allstate by 20.1% in the second quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider’s stock valued at $7,713,000 after acquiring an additional 6,412 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Price Performance

ALL opened at $257.88 on Tuesday. The stock has a market capitalization of $65.21 billion, a P/E ratio of 5.15, a price-to-earnings-growth ratio of 0.41 and a beta of 0.16. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36. The company’s 50 day simple moving average is $247.38 and its 200-day simple moving average is $223.47. The Allstate Corporation has a one year low of $188.08 and a one year high of $277.22.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, beating the consensus estimate of $6.06 by $2.93. The company had revenue of $15.43 billion during the quarter, compared to analysts’ expectations of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period last year, the firm earned $5.94 EPS. Sell-side analysts anticipate that The Allstate Corporation will post 33.92 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. Shareholders of record on Monday, August 31st will be issued 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 of this dividend is Monday, August 31st. Allstate’s payout ratio is currently 8.63%.

Insider Buying and Selling

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the sale, the insider owned 27,558 shares of the company’s stock, valued at approximately $5,959,968.66. This represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John E. Dugenske sold 32,996 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the completion of the sale, the insider owned 13,054 shares of the company’s stock, valued at approximately $3,515,833.82. This represents a 71.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 92,996 shares of company stock valued at $24,543,894 in the last three months. 1.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ALL. Atlantic Securities set a $319.00 price target on Allstate in a research report on Wednesday, July 15th. UBS Group increased their price target on shares of Allstate from $261.00 to $275.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Barclays raised their price objective on Allstate from $213.00 to $226.00 and gave the stock an “underweight” rating in a research report on Thursday, August 6th. Citigroup lowered shares of Allstate from a “neutral” rating to a “sell” rating and lifted their target price for the company from $226.00 to $240.00 in a research report on Tuesday, August 11th. Finally, HSBC lowered Allstate from a “buy” rating to a “hold” rating and boosted their price target for the company from $244.00 to $264.00 in a research note on Monday, July 6th. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $265.53.

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.