PYA Waltman Capital LLC Grows Holdings in The Allstate Corporation $ALL

PYA Waltman Capital LLC grew its position in The Allstate Corporation (NYSE:ALL) by 35.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,318 shares of the insurance provider’s stock after acquiring an additional 5,012 shares during the period. Allstate comprises approximately 1.1% of PYA Waltman Capital LLC’s investment portfolio, making the stock its 21st biggest position. PYA Waltman Capital LLC’s holdings in Allstate were worth $4,596,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ALL. BlackRock Inc. acquired a new stake in shares of Allstate during the 2nd quarter valued at about $5,439,448,000. State Street Corp raised its holdings in Allstate by 3.7% in the 4th quarter. State Street Corp now owns 12,297,551 shares of the insurance provider’s stock worth $2,571,600,000 after purchasing an additional 438,034 shares during the period. Bank of America Corp DE raised its holdings in Allstate by 8.1% in the 1st quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock worth $1,640,748,000 after purchasing an additional 596,321 shares during the period. GQG Partners LLC boosted its position in 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 purchasing an additional 1,452,993 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in Allstate by 29.2% during the fourth quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock worth $1,042,321,000 after purchasing an additional 1,131,172 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Allstate news, insider John E. Dugenske sold 32,996 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $269.33, for a total value of $8,886,812.68. Following the transaction, the insider owned 13,054 shares in the company, valued at approximately $3,515,833.82. This trade represents a 71.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Mario Rizzo sold 56,225 shares of Allstate 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 SEC filing for this sale provides additional information. Company insiders own 1.55% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on ALL shares. Cantor Fitzgerald boosted their price objective on Allstate from $236.00 to $242.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Weiss Ratings lowered Allstate from a “buy (a)” rating to a “buy (a-)” rating in a research report on Tuesday, August 25th. Roth Capital set a $300.00 price target on shares of Allstate in a research note on Thursday, August 6th. Wells Fargo & Company lowered shares of Allstate from an “equal weight” rating to an “underweight” rating and boosted their price target for the stock from $243.00 to $250.00 in a report on Friday, August 7th. Finally, Keefe, Bruyette & Woods restated an “underperform” rating and set a $250.00 price objective (down from $255.00) on shares of Allstate in a research report on Thursday, August 20th. Four investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $263.90.

Allstate Price Performance

NYSE:ALL opened at $257.71 on Wednesday. The stock has a 50 day moving average of $255.37 and a two-hundred day moving average of $227.78. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $277.22. The firm has a market cap of $65.16 billion, a P/E ratio of 5.15, a price-to-earnings-growth ratio of 0.59 and a beta of 0.15. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, beating the consensus estimate of $6.06 by $2.93. The business had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the business posted $5.94 earnings per share. On average, analysts expect that The Allstate Corporation will post 34.78 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors 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 dividend payout ratio is currently 8.63%.

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.