The Allstate Corporation $ALL Stake Boosted by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. grew its stake in shares of The Allstate Corporation (NYSE:ALL) by 13.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,501 shares of the insurance provider’s stock after acquiring an additional 4,173 shares during the period. Rakuten Investment Management Inc.’s holdings in Allstate were worth $7,199,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. State Street Corp grew its holdings in shares of Allstate by 3.7% during the 4th quarter. State Street Corp now owns 12,297,551 shares of the insurance provider’s stock valued at $2,571,600,000 after acquiring an additional 438,034 shares in the last quarter. GQG Partners LLC grew its holdings in shares of Allstate by 36.0% during the 4th quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock valued at $1,142,449,000 after acquiring an additional 1,452,993 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Allstate by 29.2% during 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 acquiring an additional 1,131,172 shares in the last quarter. Boston Partners grew its holdings in shares of Allstate by 14.9% during the 3rd quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock valued at $654,652,000 after acquiring an additional 395,195 shares in the last quarter. Finally, Raymond James Financial Inc. raised its position in Allstate by 3.3% during the second quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider’s stock valued at $562,388,000 after acquiring an additional 88,620 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Mario Rizzo sold 18,578 shares of Allstate stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total value of $4,064,866.40. Following the transaction, the chief operating officer owned 82,227 shares in the company, valued at $17,991,267.60. This trade represents a 18.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 transaction of $451,474.75. Following the completion of the transaction, the director owned 2,225 shares in the company, valued at $451,474.75. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 22,353 shares of company stock worth $4,851,560 in the last quarter. 1.55% of the stock is currently owned by company insiders.

Allstate Stock Performance

ALL opened at $223.35 on Wednesday. The company has a market cap of $57.49 billion, a PE ratio of 4.93, a price-to-earnings-growth ratio of 0.40 and a beta of 0.19. The stock has a 50-day moving average of $215.29 and a 200-day moving average of $209.04. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $227.62. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, topping the consensus estimate 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%.The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.53 EPS. As a group, equities research analysts forecast that The Allstate Corporation will post 29.43 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 1.9%. The ex-dividend date is Monday, June 1st. Allstate’s dividend payout ratio (DPR) is 9.53%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Citigroup raised their price objective on shares of Allstate from $221.00 to $226.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Wells Fargo & Company raised their price objective on shares of Allstate from $229.00 to $243.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Wall Street Zen lowered shares of Allstate from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $231.00 price objective on shares of Allstate in a research report on Thursday, March 5th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Allstate in a research report on Thursday, May 28th. Three 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 assigned a Sell rating to the company. According to data from MarketBeat, Allstate has an average rating of “Moderate Buy” and a consensus target price of $240.33.

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.