4,834 Shares in The Allstate Corporation $ALL Acquired by Lombard Odier Asset Management Switzerland SA

Key Points

• Lombard Odier Asset Management Switzerland SA acquired 4,834 Allstate shares worth approximately $1.0 million in the first quarter. Institutional investors collectively own 76.47% of Allstate’s stock.
• Allstate reported quarterly earnings of $10.65 per share, exceeding the $7.31 consensus estimate, while revenue rose 3% year over year to $16.94 billion.
• The company declared a quarterly dividend of $1.08, equivalent to an annualized $4.32 payout and a 1.7% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $254.80.

Lombard Odier Asset Management Switzerland SA acquired a new stake in The Allstate Corporation (NYSE:ALL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,834 shares of the insurance provider's stock, valued at approximately $1,002,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Allstate by 3.7% during the fourth quarter. State Street Corp now owns 12,297,551 shares of the insurance provider's stock worth $2,571,600,000 after buying an additional 438,034 shares in the last quarter. GQG Partners LLC lifted its stake in shares of 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 buying an additional 1,452,993 shares in the last quarter. 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 acquiring an additional 1,131,172 shares during the last quarter. Boston Partners boosted its position in Allstate by 14.9% during the third quarter. Boston Partners now owns 3,050,780 shares of the insurance provider's stock worth $654,652,000 after acquiring an additional 395,195 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Allstate by 5.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,804,615 shares of the insurance provider's stock valued at $581,515,000 after acquiring an additional 154,259 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Trading Up 0.5%

Shares of ALL opened at $261.37 on Tuesday. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $262.24. The firm has a market capitalization of $67.28 billion, a P/E ratio of 5.77, a P/E/G ratio of 0.45 and a beta of 0.16. The firm has a 50-day moving average price of $231.96 and a 200 day moving average price of $216.45. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25.

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, beating the consensus estimate of $7.31 by $3.34. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The company 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 business posted $3.53 EPS. Allstate's revenue was up 3.0% on a year-over-year basis. Sell-side analysts forecast that The Allstate Corporation will post 30.51 EPS for the current year.

Allstate Dividend Announcement

The firm 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 is Monday, August 31st. This represents a $4.32 dividend on an annualized basis and a yield of 1.7%. Allstate's dividend payout ratio is currently 9.53%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Piper Sandler reiterated an "overweight" rating on shares of Allstate in a report on Thursday, May 28th. Wells Fargo & Company boosted their target price on Allstate from $229.00 to $243.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 6th. Barclays upped their price target on Allstate from $203.00 to $213.00 and gave the company an "underweight" rating in a research report on Tuesday, July 7th. Atlantic Securities set a $319.00 price target on Allstate in a report on Wednesday, July 15th. Finally, Zacks Research downgraded Allstate from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 7th. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $254.80.

Insider Activity at Allstate

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of the firm's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the sale, the insider owned 27,558 shares of the company's stock, valued at $5,959,968.66. This trade represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Mario Rizzo sold 18,578 shares of Allstate stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total value of $4,064,866.40. Following the completion of the sale, the chief operating officer owned 82,227 shares in the company, valued at $17,991,267.60. This represents a 18.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 22,353 shares of company stock worth $4,851,560. Insiders own 1.55% of the company's stock.

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.

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