Smithbridge Asset Management Inc. DE Purchases 2,974 Shares of The Allstate Corporation $ALL

Smithbridge Asset Management Inc. DE boosted its position in shares of The Allstate Corporation (NYSE:ALL) by 265.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,094 shares of the insurance provider’s stock after acquiring an additional 2,974 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in Allstate were worth $852,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in Allstate by 0.7% during the third quarter. State Street Corp now owns 11,859,517 shares of the insurance provider’s stock valued at $2,557,362,000 after acquiring an additional 85,468 shares during the period. Franklin Resources Inc. increased its holdings in Allstate by 29.2% in the 4th quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock valued at $1,042,321,000 after buying an additional 1,131,172 shares during the period. Boston Partners increased its holdings in Allstate by 14.9% in the 3rd quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock valued at $654,652,000 after buying an additional 395,195 shares during the period. Raymond James Financial Inc. increased its holdings in Allstate by 3.3% in the 2nd quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider’s stock valued at $562,388,000 after buying an additional 88,620 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Allstate by 18.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,606,451 shares of the insurance provider’s stock valued at $559,435,000 after buying an additional 401,700 shares during the period. 76.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ALL has been the topic of several analyst reports. Piper Sandler reissued an “overweight” rating on shares of Allstate in a report on Thursday, May 28th. Wells Fargo & Company boosted their price target 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. Wall Street Zen lowered shares of Allstate from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings upgraded Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, March 23rd. Finally, Citigroup upped their price objective on Allstate from $221.00 to $226.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $240.33.

Insider Buying and Selling

In related news, COO Mario Rizzo sold 18,578 shares of the stock in a transaction that occurred 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 directly owned 82,227 shares in the company, valued at $17,991,267.60. This represents a 18.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrea Redmond sold 2,225 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $451,474.75. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 22,353 shares of company stock worth $4,851,560 in the last three months. Insiders own 1.55% of the company’s stock.

Allstate Trading Up 2.9%

Shares of Allstate stock opened at $223.45 on Thursday. The stock has a market capitalization of $57.52 billion, a P/E ratio of 4.93, a price-to-earnings-growth ratio of 0.39 and a beta of 0.18. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The company has a 50-day simple moving average of $214.08 and a 200 day simple moving average of $208.82. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $227.62.

Allstate (NYSE:ALL) last announced its 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 business had revenue of $16.94 billion during the quarter, compared to analysts’ expectations of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the company posted $3.53 EPS. Research analysts expect that The Allstate Corporation will post 29.43 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a dividend of $1.08 per share. The ex-dividend date is Monday, June 1st. This represents a $4.32 dividend on an annualized basis and a yield of 1.9%. Allstate’s dividend payout ratio 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.