3,099 Shares in The Allstate Corporation $ALL Purchased by Empirical Asset Management LLC

Empirical Asset Management LLC acquired a new stake in shares of The Allstate Corporation (NYSE:ALL) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 3,099 shares of the insurance provider’s stock, valued at approximately $737,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ALL. Gables Capital Management Inc. purchased a new position in shares of Allstate in the 2nd quarter valued at approximately $26,000. Allied Private Wealth LLC purchased a new stake in Allstate in the second quarter worth $29,000. Kelleher Financial Advisors purchased a new stake in Allstate in the second quarter worth $28,000. MV Capital Management Inc. bought a new position in Allstate in the fourth quarter worth $25,000. Finally, Navalign LLC bought a new position in Allstate in the fourth quarter worth $27,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Trading Up 1.2%

NYSE ALL opened at $261.27 on Wednesday. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $277.22. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24. The stock’s fifty day moving average price is $248.26 and its 200-day moving average price is $223.92. The stock has a market cap of $66.06 billion, a P/E ratio of 5.22, a P/E/G ratio of 0.41 and a beta of 0.16.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $15.43 billion during the quarter, compared to analyst estimates of $15.46 billion. During the same quarter in the previous year, the firm earned $5.94 EPS. Allstate’s quarterly revenue was up 11.8% compared to the same quarter last year. As a group, equities analysts forecast that The Allstate Corporation will post 34.2 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. Shareholders of record on Monday, August 31st will be issued a $1.08 dividend. 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 payout ratio is 8.63%.

Insider Activity

In other Allstate news, COO Mario Rizzo sold 56,225 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the sale, the chief operating officer directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 value of $451,474.75. Following the completion of the sale, the director directly owned 2,225 shares of the company’s stock, valued at approximately $451,474.75. The trade was a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 92,996 shares of company stock worth $24,543,894. Corporate insiders own 1.55% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on ALL. Mizuho boosted their target price on shares of Allstate from $255.00 to $272.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Evercore set a $240.00 price target on shares of Allstate in a research note on Friday, July 10th. Barclays lifted their price target on shares of Allstate from $213.00 to $226.00 and gave the company an “underweight” rating in a research report on Thursday, August 6th. Atlantic Securities set a $319.00 price objective on shares of Allstate in a report on Wednesday, July 15th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $280.00 target price on shares of Allstate in a research note on Friday, August 7th. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $265.53.

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.