9,377 Shares in The Allstate Corporation $ALL Bought by Osmosis Investment Management UK Ltd

Osmosis Investment Management UK Ltd purchased a new position in The Allstate Corporation (NYSE:ALL) during the second quarter, Holdings Channel reports. The fund purchased 9,377 shares of the insurance provider’s stock, valued at approximately $2,231,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Allstate in the second quarter worth $5,439,448,000. State Street Corp boosted its stake in Allstate by 3.7% during the fourth quarter. State Street Corp now owns 12,297,551 shares of the insurance provider’s stock valued at $2,571,600,000 after buying an additional 438,034 shares during the period. Bank of America Corp DE increased its position in shares of Allstate by 8.1% in the first quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock worth $1,640,748,000 after purchasing an additional 596,321 shares during the last quarter. GQG Partners LLC increased its position 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 worth $1,142,449,000 after purchasing an additional 1,452,993 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in 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. Institutional investors own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

ALL has been the topic of a number of research analyst reports. Piper Sandler increased their target price on Allstate from $268.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. Raymond James Financial reiterated a “strong-buy” rating and issued a $315.00 price objective on shares of Allstate in a report on Tuesday, August 11th. JPMorgan Chase & Co. increased their price objective on Allstate from $282.00 to $292.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $250.00 price objective (down from $255.00) on shares of Allstate in a report on Thursday, August 20th. Finally, Cantor Fitzgerald boosted their target price on Allstate from $236.00 to $242.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Four equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $265.26.

Allstate Price Performance

Shares of Allstate stock opened at $260.35 on Tuesday. The company’s fifty day simple moving average is $251.11 and its two-hundred day simple moving average is $225.53. 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 $65.83 billion, a PE ratio of 5.20, a price-to-earnings-growth ratio of 0.39 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 EPS for the quarter, beating analysts’ consensus estimates of $6.06 by $2.93. The business had revenue of $18.60 billion during the quarter, compared to analyst estimates of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%.Allstate’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.94 EPS. As a group, equities analysts expect that The Allstate Corporation will post 34.45 EPS for the current year.

Allstate Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.7%. Allstate’s dividend payout ratio is currently 8.63%.

Insiders Place Their Bets

In related news, COO Mario Rizzo sold 56,225 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total value of $14,870,388.00. Following the transaction, the chief operating officer owned 82,227 shares in the company, valued at $21,747,396.96. The trade was a 40.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John E. Dugenske sold 32,996 shares of the stock in a transaction that occurred 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 sale, the insider owned 13,054 shares in the company, valued at approximately $3,515,833.82. The trade was a 71.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 91,446 shares of company stock worth $24,208,675. 1.55% of the stock is currently owned by company insiders.

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.