17,510 Shares in The Allstate Corporation $ALL Bought by ABN AMRO Bank N.V.

Key Points

• ABN AMRO Bank N.V. bought 17,510 shares of Allstate in the first quarter, a position valued at about $3.66 million.
• Allstate reported strong first-quarter earnings, posting $10.65 per share versus $7.31 expected, while revenue came in at $16.94 billion and beat estimates as well.
• The company also announced a quarterly dividend of $1.08 per share, payable July 1, and analysts currently rate the stock a Moderate Buy with a consensus price target of $240.33.

ABN AMRO Bank N.V. bought a new position in The Allstate Corporation (NYSE:ALL - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 17,510 shares of the insurance provider's stock, valued at approximately $3,658,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. South Plains Financial Inc. lifted its stake in Allstate by 41.5% in the 3rd quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider's stock valued at $36,000 after acquiring an additional 49 shares in the last quarter. Coldstream Capital Management Inc. increased its stake in 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 buying an additional 50 shares during the last quarter. Compound Planning Inc. lifted its position in Allstate by 1.6% during the 4th quarter. Compound Planning Inc. now owns 3,216 shares of the insurance provider's stock worth $669,000 after buying an additional 50 shares in the last quarter. Humankind Investments LLC boosted its stake in shares of Allstate by 4.5% during the 3rd quarter. Humankind Investments LLC now owns 1,191 shares of the insurance provider's stock worth $256,000 after buying an additional 51 shares during the last quarter. Finally, Cullen Frost Bankers Inc. grew its holdings in shares of Allstate by 0.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider's stock valued at $1,210,000 after acquiring an additional 52 shares in the last quarter. Institutional investors and hedge funds 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 company's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the transaction, the insider directly owned 27,558 shares of the company's stock, valued at $5,959,968.66. This represents a 5.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Mario Rizzo sold 18,578 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $218.80, for a total value of $4,064,866.40. Following the transaction, the chief operating officer owned 82,227 shares in the company, valued at $17,991,267.60. The trade was a 18.43% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 22,353 shares of company stock worth $4,851,560. 1.55% of the stock is owned by insiders.

Allstate Stock Performance

ALL opened at $239.77 on Monday. 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 Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $240.16. The business has a 50 day moving average of $217.68 and a 200-day moving average of $210.17. The stock has a market cap of $61.72 billion, a price-to-earnings ratio of 5.29, a PEG ratio of 0.42 and a beta of 0.19.

Allstate (NYSE:ALL - Get Free Report) last posted its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping analysts' consensus estimates of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The business had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same period in the previous year, the firm earned $3.53 EPS. The firm's revenue was up 3.0% compared to the same quarter last year. On average, equities research analysts expect that The Allstate Corporation will post 29.75 earnings per share for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a $1.08 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $4.32 annualized dividend and a dividend yield of 1.8%. Allstate's dividend payout ratio is presently 9.53%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ALL. Wells Fargo & Company lifted their target price on Allstate from $229.00 to $243.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 6th. Citigroup increased their price target on Allstate from $221.00 to $226.00 and gave the company a "neutral" rating in a research report on Friday, May 1st. Barclays boosted their price target on Allstate from $207.00 to $208.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 8th. The Goldman Sachs Group reiterated a "neutral" rating and set a $231.00 price objective on shares of Allstate in a research note on Thursday, March 5th. Finally, Keefe, Bruyette & Woods downgraded Allstate from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $266.00 to $242.00 in a report on Monday, June 8th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $240.33.

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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