J. Safra Sarasin Holding AG Sells 57,724 Shares of The Allstate Corporation $ALL

J. Safra Sarasin Holding AG decreased its holdings in shares of The Allstate Corporation (NYSE:ALL) by 80.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,243 shares of the insurance provider’s stock after selling 57,724 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Allstate were worth $2,953,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ALL. Norges Bank bought a new stake in shares of Allstate in the fourth quarter valued at about $531,294,000. GQG Partners LLC increased its stake in shares of Allstate by 36.0% in the 4th quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock valued at $1,142,449,000 after purchasing an additional 1,452,993 shares during the last quarter. Franklin Resources Inc. grew its position in Allstate by 29.2% in the fourth quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock valued at $1,042,321,000 after acquiring an additional 1,131,172 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Allstate by 1,766.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 869,139 shares of the insurance provider’s stock valued at $180,911,000 after purchasing an additional 822,583 shares during the last quarter. Finally, Woodline Partners LP acquired a new position in shares of Allstate during the third quarter worth $148,641,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Trading Up 1.9%

Shares of ALL opened at $256.43 on Tuesday. The business’s 50-day moving average price is $224.94 and its 200-day moving average price is $213.37. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The stock has a market cap of $66.01 billion, a PE ratio of 5.66, a P/E/G ratio of 0.44 and a beta of 0.16. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $257.67.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping the consensus estimate of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same quarter in the previous year, the firm earned $3.53 earnings per share. Allstate’s revenue was up 3.0% on a year-over-year basis. On average, equities analysts forecast that The Allstate Corporation will post 29.99 EPS for the current fiscal year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, August 31st. Allstate’s dividend payout ratio is 9.53%.

Insiders Place Their Bets

In related 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 value of $335,218.50. Following the completion of the transaction, the insider directly owned 27,558 shares in the company, valued at $5,959,968.66. This trade represents a 5.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrea Redmond sold 2,225 shares of Allstate stock in a transaction 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 transaction, the director owned 2,225 shares of the company’s stock, valued at $451,474.75. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 22,353 shares of company stock worth $4,851,560. 1.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Piper Sandler reaffirmed an “overweight” rating on shares of Allstate in a research note on Thursday, May 28th. HSBC cut Allstate from a “buy” rating to a “hold” rating and increased their price target for the stock from $244.00 to $264.00 in a report on Monday, July 6th. Cantor Fitzgerald raised their target price on Allstate from $236.00 to $242.00 and gave the company a “neutral” rating in a research note on Thursday. Zacks Research downgraded shares of Allstate from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, Morgan Stanley boosted their price objective on Allstate from $215.00 to $240.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $248.26.

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.