Flputnam Investment Management Co. Acquires New Position in The Allstate Corporation $ALL

Flputnam Investment Management Co. bought a new position in The Allstate Corporation (NYSE:ALL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,447 shares of the insurance provider’s stock, valued at approximately $1,058,000.

Other institutional investors also recently made changes to their positions in the company. MV Capital Management Inc. acquired a new stake in Allstate in the fourth quarter worth $25,000. Navalign LLC bought a new position in Allstate in the 4th quarter worth about $27,000. Kelleher Financial Advisors acquired a new stake in shares of Allstate in the second quarter valued at approximately $28,000. Evolution Wealth Management Inc. boosted its position in shares of Allstate by 7,000.0% during the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after buying an additional 140 shares during the period. Finally, Allied Private Wealth LLC acquired a new stake in Allstate in the 2nd quarter valued at approximately $29,000. 76.47% of the stock is owned by institutional investors.

Insider Transactions at Allstate

In other news, COO Mario Rizzo sold 56,225 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the completion of the transaction, the chief operating officer owned 82,227 shares in the company, valued at approximately $21,747,396.96. This trade represents a 40.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Andrea Redmond sold 2,225 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the transaction, the director owned 2,225 shares of the company’s stock, valued at approximately $451,474.75. This trade represents a 50.00% 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 insiders.

Wall Street Analyst Weigh In

ALL has been the subject of a number of analyst reports. Morgan Stanley set a $265.00 price target on Allstate in a research report on Tuesday, August 11th. Evercore set a $240.00 price target on Allstate in a report on Friday, July 10th. Piper Sandler lifted their price objective on shares of Allstate from $268.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. Roth Capital set a $300.00 target price on shares of Allstate in a research report on Thursday, August 6th. Finally, Weiss Ratings raised shares of Allstate from a “buy (a-)” rating to a “buy (a)” rating in a research note on Thursday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $265.53.

Allstate Stock Performance

ALL opened at $257.88 on Tuesday. The business has a 50 day moving average price of $247.38 and a two-hundred day moving average price of $223.47. 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 has a market capitalization of $65.21 billion, a price-to-earnings ratio of 5.15, a price-to-earnings-growth ratio of 0.41 and a beta of 0.16. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $277.22.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.06 by $2.93. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The company had revenue of $15.43 billion for the quarter, compared to analysts’ expectations of $15.46 billion. During the same period last year, the firm earned $5.94 EPS. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. Research analysts predict that The Allstate Corporation will post 33.92 EPS for the current fiscal year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be paid a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 annualized dividend and a yield of 1.7%. Allstate’s dividend payout ratio (DPR) is currently 8.63%.

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.