Live Oak Investment Partners Acquires New Holdings in The Allstate Corporation $ALL

Live Oak Investment Partners bought a new position in shares of The Allstate Corporation (NYSE:ALL) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 11,701 shares of the insurance provider’s stock, valued at approximately $2,784,000. Allstate accounts for approximately 1.5% of Live Oak Investment Partners’ holdings, making the stock its 17th largest holding.

A number of other institutional investors have also recently added to or reduced their stakes in ALL. BlackRock Inc. bought a new position in shares of Allstate during the second quarter valued at $5,439,448,000. Deutsche Bank AG bought a new stake in shares of Allstate in the 2nd quarter valued at about $1,008,648,000. Norges Bank bought a new stake in shares of Allstate in the 4th quarter valued at about $531,294,000. Bank of New York Mellon Corp acquired a new stake in shares of Allstate in the second quarter valued at about $425,484,000. Finally, GQG Partners LLC raised its position in shares of Allstate by 36.0% during the fourth quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock worth $1,142,449,000 after acquiring an additional 1,452,993 shares during the last quarter. 76.47% of the stock is owned by institutional investors.

Insider Activity at Allstate

In other news, insider Mark Q. Prindiville sold 1,550 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the transaction, the insider owned 27,558 shares of the company’s stock, valued at $5,959,968.66. This represents a 5.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andrea Redmond sold 2,225 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were 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 $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 have sold a total of 92,996 shares of company stock worth $24,543,894 over the last three months. 1.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on ALL shares. Zacks Research raised Allstate from a “hold” rating to a “strong-buy” rating in a research note on Monday. Piper Sandler raised their price target on shares of Allstate from $268.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. Keefe, Bruyette & Woods boosted their price target on shares of Allstate from $242.00 to $255.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 8th. UBS Group upped their price objective on shares of Allstate from $261.00 to $275.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Finally, Barclays increased their price objective on shares of Allstate from $213.00 to $226.00 and gave the stock an “underweight” rating in a research report on Thursday, August 6th. Four investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Allstate has a consensus rating of “Hold” and an average target price of $265.53.

Allstate Stock Performance

Shares of ALL stock opened at $260.24 on Thursday. The firm has a 50 day moving average of $249.00 and a 200-day moving average of $224.35. The company has a market cap of $65.80 billion, a price-to-earnings ratio of 5.20, a price-to-earnings-growth ratio of 0.40 and a beta of 0.16. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $277.22.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.06 by $2.93. The company had revenue of $15.43 billion for the quarter, compared to the consensus estimate of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. Allstate’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.94 EPS. On average, equities analysts forecast that The Allstate Corporation will post 34.5 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be paid a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Monday, August 31st. Allstate’s payout ratio is 8.63%.

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.