11,321 Shares in The Allstate Corporation $ALL Acquired by EFG International AG

Key Points

• EFG International AG acquired 11,321 Allstate shares worth approximately $2.69 million during the second quarter. Institutional investors collectively own 76.47% of Allstate’s stock.
• Allstate reported strong quarterly results, with EPS of $8.99 versus the $6.06 consensus and revenue of $18.60 billion, up 11.8% year over year.
• Allstate declared a quarterly dividend of $1.08 per share, equivalent to a $4.32 annualized payout and a 1.6% yield. Analyst sentiment remains mixed, with an average “Hold” rating and a $265.26 price target.

EFG International AG acquired a new stake in The Allstate Corporation (NYSE:ALL - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,321 shares of the insurance provider's stock, valued at approximately $2,693,000.

A number of other institutional investors have also recently bought and sold shares of ALL. Coldstream Capital Management Inc. lifted its stake in shares of Allstate by 0.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider's stock valued at $1,625,000 after purchasing an additional 50 shares during the period. Compound Planning Inc. lifted its stake in Allstate by 1.6% in the fourth quarter. Compound Planning Inc. now owns 3,216 shares of the insurance provider's stock valued at $669,000 after buying an additional 50 shares during the period. Cullen Frost Bankers Inc. boosted its holdings in Allstate by 0.9% during the fourth quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider's stock worth $1,210,000 after buying an additional 52 shares during the last quarter. Root Financial Partners LLC boosted its holdings in Allstate by 4.7% during the first quarter. Root Financial Partners LLC now owns 1,170 shares of the insurance provider's stock worth $243,000 after buying an additional 53 shares during the last quarter. Finally, Montag A & Associates Inc. grew its position in shares of Allstate by 10.2% during the 4th quarter. Montag A & Associates Inc. now owns 596 shares of the insurance provider's stock worth $125,000 after buying an additional 55 shares during the period. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Trading Up 1.7%

NYSE:ALL opened at $262.08 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36. The business's 50-day simple moving average is $252.60 and its 200-day simple moving average is $226.21. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $277.22. The stock has a market capitalization of $66.27 billion, a PE ratio of 5.23, a price-to-earnings-growth ratio of 0.39 and a beta of 0.16.

Allstate (NYSE:ALL - Get Free Report) last posted its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.06 by $2.93. The business had revenue of $18.60 billion during 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 revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business earned $5.94 EPS. Sell-side analysts expect that The Allstate Corporation will post 34.45 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 annualized dividend and a dividend yield of 1.6%. Allstate's dividend payout ratio is currently 8.63%.

Analysts Set New Price Targets

ALL has been the topic of a number of analyst reports. Raymond James Financial reiterated a "strong-buy" rating and issued a $315.00 price target on shares of Allstate in a research report on Tuesday, August 11th. The Goldman Sachs Group restated a "neutral" rating and set a $280.00 price objective on shares of Allstate in a report on Friday, August 7th. Wall Street Zen raised shares of Allstate from a "hold" rating to a "buy" rating in a research note on Monday, July 20th. Keefe, Bruyette & Woods reissued an "underperform" rating and set a $250.00 price target (down from $255.00) on shares of Allstate in a research report on Thursday, August 20th. Finally, Morgan Stanley set a $265.00 price target on shares of Allstate in a report on Tuesday, August 11th. Four equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, Allstate has an average rating of "Hold" and an average target price of $265.26.

Insider Buying and Selling

In related news, insider John E. Dugenske sold 32,996 shares of the company's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $269.33, for a total value of $8,886,812.68. Following the completion of the transaction, the insider directly owned 13,054 shares of the company's stock, valued at approximately $3,515,833.82. This represents a 71.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Mario Rizzo sold 56,225 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total value of $14,870,388.00. Following the transaction, the chief operating officer owned 82,227 shares of the company's stock, valued at approximately $21,747,396.96. This trade represents a 40.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 91,446 shares of company stock worth $24,208,675 over the last ninety days. Company insiders own 1.55% of the company's stock.

About Allstate

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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