Easterly Investment Partners LLC reduced its holdings in The Allstate Corporation (NYSE:ALL – Free Report) by 29.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,235 shares of the insurance provider’s stock after selling 6,676 shares during the quarter. Easterly Investment Partners LLC’s holdings in Allstate were worth $3,379,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Navalign LLC acquired a new position in shares of Allstate during the fourth quarter worth about $27,000. Dorato Capital Management acquired a new position in shares of Allstate during the fourth quarter worth about $27,000. Palisade Asset Management LLC acquired a new position in shares of Allstate during the third quarter worth about $31,000. Princeton Global Asset Management LLC boosted its position in shares of Allstate by 101.3% during the fourth quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock worth $31,000 after buying an additional 76 shares during the period. Finally, South Plains Financial Inc. boosted its position in shares of Allstate by 41.5% during the third quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock worth $36,000 after buying an additional 49 shares during the period. 76.47% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the company. Raymond James Financial reaffirmed a “strong-buy” rating and set a $260.00 price objective on shares of Allstate in a research report on Tuesday, March 3rd. Mizuho reduced their price objective on Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. Keefe, Bruyette & Woods upped their price objective on Allstate from $260.00 to $266.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Cantor Fitzgerald reissued a “neutral” rating and set a $220.00 price target on shares of Allstate in a research report on Thursday, February 5th. Finally, Zacks Research cut Allstate from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and an average target price of $241.67.
Insider Buying and Selling at Allstate
In related news, COO Mario Rizzo sold 18,578 shares of the business’s 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 sale, the chief operating officer owned 82,227 shares in the company, valued at $17,991,267.60. The trade was a 18.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Mark Q. Prindiville sold 1,550 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the sale, the insider owned 27,558 shares in the company, valued at $5,959,968.66. This represents a 5.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.55% of the company’s stock.
Key Allstate News
Here are the key news stories impacting Allstate this week:
- Positive Sentiment: Allstate remains fundamentally strong after its latest quarter, with earnings per share and revenue both beating expectations, which supports the bull case for the stock. Insider Selling: Allstate (NYSE:ALL) Insider Sells 1,550 Shares of Stock
- Positive Sentiment: Several analyst and research notes continue to frame Allstate as undervalued or fairly attractive, and the stock still carries a moderate buy consensus with a higher average price target. Allstate (ALL) Down 4.6% Since Last Earnings Report: Can It Rebound?
- Neutral Sentiment: Allstate announced estimated April catastrophe losses of $870 million pre-tax, which is a reminder that weather-related claims can create earnings volatility and may temper sentiment near term. Is Allstate (ALL) the Most Undervalued Stock to Invest In?
- Neutral Sentiment: A consumer-focused article highlighting car insurance for road trips is not a direct company-specific catalyst, but it keeps attention on auto insurance demand and the broader insurance category. Driving instead of flying? Here’s the best car insurance for road trips
- Negative Sentiment: One insider sold 1,550 shares, and while the sale was small relative to the company, insider selling can weigh on short-term sentiment. Insider Selling: Allstate (NYSE:ALL) Insider Sells 1,550 Shares of Stock
Allstate Stock Performance
NYSE:ALL opened at $206.51 on Monday. The stock has a market cap of $53.16 billion, a P/E ratio of 4.56, a PEG ratio of 0.37 and a beta of 0.19. The stock has a 50 day simple moving average of $212.70 and a 200 day simple moving average of $208.59. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $227.62.
Allstate (NYSE:ALL – Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The firm had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same quarter last year, the company earned $3.53 EPS. The company’s revenue was up 3.0% on a year-over-year basis. Research analysts anticipate that The Allstate Corporation will post 29.11 earnings per share for the current year.
Allstate Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a $1.08 dividend. The ex-dividend date is Monday, June 1st. This represents a $4.32 annualized dividend and a dividend yield of 2.1%. Allstate’s dividend payout ratio (DPR) is presently 9.53%.
About Allstate
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.
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