Sienna Gestion Takes $957,000 Position in The Allstate Corporation $ALL

Sienna Gestion bought a new stake in shares of The Allstate Corporation (NYSE:ALL) in the 4th quarter, Holdings Channel reports. The fund bought 4,598 shares of the insurance provider’s stock, valued at approximately $957,000.

Other large investors also recently modified their holdings of the company. CIBC Bancorp USA Inc. acquired a new stake in shares of Allstate during the third quarter valued at about $7,814,000. Elo Mutual Pension Insurance Co grew its stake in shares of Allstate by 39.6% during the third quarter. Elo Mutual Pension Insurance Co now owns 40,298 shares of the insurance provider’s stock valued at $8,650,000 after acquiring an additional 11,431 shares in the last quarter. Mezzasalma Advisors LLC grew its stake in shares of Allstate by 58.6% during the fourth quarter. Mezzasalma Advisors LLC now owns 23,918 shares of the insurance provider’s stock valued at $4,875,000 after acquiring an additional 8,837 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Allstate by 5.1% during the fourth 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. Finally, B. Metzler seel. Sohn & Co. AG grew its stake in shares of Allstate by 28.9% during the third quarter. B. Metzler seel. Sohn & Co. AG now owns 50,408 shares of the insurance provider’s stock valued at $10,820,000 after acquiring an additional 11,297 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Stock Performance

Shares of ALL stock opened at $221.54 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The company’s 50-day simple moving average is $214.97 and its 200-day simple moving average is $208.98. The Allstate Corporation has a one year low of $188.08 and a one year high of $227.62. The stock has a market capitalization of $57.03 billion, a price-to-earnings ratio of 4.89, a PEG ratio of 0.40 and a beta of 0.19.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The firm had revenue of $16.94 billion for the quarter, compared to analysts’ expectations of $15.24 billion. During the same quarter last year, the company posted $3.53 earnings per share. Allstate’s revenue was up 3.0% on a year-over-year basis. Equities analysts anticipate that The Allstate Corporation will post 29.43 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a $1.08 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $4.32 dividend on an annualized basis and a yield of 2.0%. Allstate’s dividend payout ratio (DPR) is currently 9.53%.

Insiders Place Their Bets

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value 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 trade represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andrea Redmond sold 2,225 shares of the firm’s stock in a transaction dated 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 directly owned 2,225 shares in the company, valued at $451,474.75. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 22,353 shares of company stock valued at $4,851,560 over the last quarter. Insiders own 1.55% of the company’s stock.

Analyst Ratings Changes

ALL has been the topic of several research analyst reports. Mizuho reduced their price target on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, March 20th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $231.00 price target on shares of Allstate in a research report on Thursday, March 5th. Piper Sandler reaffirmed an “overweight” rating on shares of Allstate in a research report on Thursday, May 28th. Wall Street Zen cut shares of Allstate from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings raised shares of Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, March 23rd. Three research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.