10,260 Shares in The Allstate Corporation $ALL Purchased by Canandaigua National Bank & Trust Co.

Key Points

• Canandaigua National Bank & Trust Co. purchased 10,260 Allstate shares worth approximately $2.44 million in the second quarter. Institutional investors collectively own 76.47% of Allstate’s stock.
• Analyst sentiment remains positive overall, with Allstate carrying a consensus “Moderate Buy” rating and an average price target of $254.80, despite several recent downgrades to “Hold” or “Neutral.”
• Allstate declared a quarterly dividend of $1.08 per share, equivalent to an annualized $4.32 payout and a 1.6% yield; the stock opened at $262.47 and has traded between $188.08 and $277.22 over the past year.

Canandaigua National Bank & Trust Co. acquired a new position in The Allstate Corporation (NYSE:ALL - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,260 shares of the insurance provider's stock, valued at approximately $2,441,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Allstate by 3.7% in the fourth quarter. State Street Corp now owns 12,297,551 shares of the insurance provider's stock valued at $2,571,600,000 after acquiring an additional 438,034 shares in the last quarter. Bank of America Corp DE lifted its holdings in Allstate by 8.1% during the first quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider's stock worth $1,640,748,000 after acquiring an additional 596,321 shares during the period. GQG Partners LLC boosted its position in Allstate by 36.0% in 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 during the last quarter. Franklin Resources Inc. boosted 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 worth $1,042,321,000 after purchasing an additional 1,131,172 shares during the last quarter. Finally, Boston Partners grew its stake in Allstate by 14.9% in the 3rd quarter. Boston Partners now owns 3,050,780 shares of the insurance provider's stock valued at $654,652,000 after purchasing an additional 395,195 shares during the period. Hedge funds and other institutional investors own 76.47% of the company's stock.

Insider Transactions at Allstate

In other Allstate 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 completion of the transaction, the insider owned 27,558 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andrea Redmond sold 2,225 shares of Allstate 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 owned 2,225 shares of the company's stock, valued at $451,474.75. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ALL. Zacks Research cut Allstate from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 7th. HSBC lowered shares of Allstate from a "buy" rating to a "hold" rating and increased their price target for the company from $244.00 to $264.00 in a research report on Monday, July 6th. UBS Group downgraded shares of Allstate from a "buy" rating to a "neutral" rating and raised their price objective for the stock from $255.00 to $261.00 in a report on Wednesday, July 15th. JPMorgan Chase & Co. lifted their price objective on shares of Allstate from $263.00 to $282.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 14th. Finally, Wells Fargo & Company boosted their target price on shares of Allstate from $229.00 to $243.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 6th. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Allstate currently has an average rating of "Moderate Buy" and a consensus target price of $254.80.

Allstate Stock Performance

Shares of ALL opened at $262.47 on Wednesday. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $277.22. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36. The stock's fifty day moving average price is $237.86 and its two-hundred day moving average price is $219.05. The firm has a market cap of $67.56 billion, a PE ratio of 5.79, a PEG ratio of 0.45 and a beta of 0.16.

Allstate Dividend Announcement

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 issued a $1.08 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 annualized dividend and a yield of 1.6%. Allstate's dividend payout ratio (DPR) is 9.53%.

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.

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