Globeflex Capital L P Takes $685,000 Position in The Allstate Corporation $ALL

Globeflex Capital L P acquired a new stake in shares of The Allstate Corporation (NYSE:ALL) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,877 shares of the insurance provider’s stock, valued at approximately $685,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Allstate by 5.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552,120 shares of the insurance provider’s stock valued at $112,533,000 after acquiring an additional 26,586 shares in the last quarter. Strategic Global Advisors LLC grew its holdings in shares of Allstate by 19.2% during the fourth quarter. Strategic Global Advisors LLC now owns 48,882 shares of the insurance provider’s stock worth $10,175,000 after purchasing an additional 7,870 shares in the last quarter. Elevation Point Wealth Partners LLC increased its position in shares of Allstate by 130.9% in the first quarter. Elevation Point Wealth Partners LLC now owns 19,288 shares of the insurance provider’s stock worth $4,016,000 after purchasing an additional 10,936 shares during the last quarter. Bank of America Corp DE raised its stake in Allstate by 8.1% in the first quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock valued at $1,640,748,000 after purchasing an additional 596,321 shares in the last quarter. Finally, CIBC Asset Management Inc raised its stake in Allstate by 69.2% in the fourth quarter. CIBC Asset Management Inc now owns 63,011 shares of the insurance provider’s stock valued at $13,116,000 after purchasing an additional 25,764 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

Allstate Trading Down 1.0%

NYSE:ALL opened at $257.72 on Wednesday. The firm has a market capitalization of $65.17 billion, a P/E ratio of 5.15, a P/E/G 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 company has a fifty day moving average of $251.80 and a 200 day moving average of $225.88. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $277.22.

Allstate (NYSE:ALL) last posted its 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. The company had revenue of $18.60 billion for the quarter, compared to analysts’ expectations of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%.Allstate’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period last year, the firm earned $5.94 earnings per share. On average, research analysts predict that The Allstate Corporation will post 34.45 earnings per share for the current year.

Allstate Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ALL shares. Atlantic Securities set a $319.00 price target on shares of Allstate in a research note on Wednesday, July 15th. Piper Sandler raised their price objective on shares of Allstate from $268.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $280.00 price objective on shares of Allstate in a report on Friday, August 7th. Barclays upped their target price 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. Finally, Roth Capital set a $300.00 target price on Allstate in a research note on Thursday, August 6th. Four investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $265.26.

Insider Activity at Allstate

In other Allstate news, Director Andrea Redmond sold 2,225 shares of the business’s stock in a transaction on 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Mario Rizzo sold 56,225 shares of the company’s 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 completion of the transaction, the chief operating officer owned 82,227 shares of the company’s stock, valued at $21,747,396.96. This trade represents a 40.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 91,446 shares of company stock worth $24,208,675 over the last quarter. Corporate insiders own 1.55% of the company’s stock.

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.