Strategic Global Advisors LLC bought a new position in shares of The Allstate Corporation (NYSE:ALL - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 49,088 shares of the insurance provider's stock, valued at approximately $11,680,000. Allstate comprises about 1.7% of Strategic Global Advisors LLC's portfolio, making the stock its 16th biggest holding.
Several other large investors have also modified their holdings of ALL. Coldstream Capital Management Inc. raised its holdings 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 period. Compound Planning Inc. boosted its stake in Allstate by 1.6% during the fourth quarter. Compound Planning Inc. now owns 3,216 shares of the insurance provider's stock worth $669,000 after buying an additional 50 shares during the period. Cullen Frost Bankers Inc. increased its position in shares of Allstate by 0.9% during the fourth 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 during the last quarter. Root Financial Partners LLC increased its position in shares of Allstate by 4.7% during the first quarter. Root Financial Partners LLC now owns 1,170 shares of the insurance provider's stock valued at $243,000 after acquiring an additional 53 shares during the last quarter. Finally, Montag A & Associates Inc. raised its stake in shares of Allstate by 10.2% in the 4th quarter. Montag A & Associates Inc. now owns 596 shares of the insurance provider's stock valued at $125,000 after acquiring an additional 55 shares during the period. Institutional investors and hedge funds own 76.47% of the company's stock.
Wall Street Analysts Forecast Growth
ALL has been the topic of a number of research analyst reports. Raymond James Financial reissued a "strong-buy" rating and issued a $315.00 target price on shares of Allstate in a research report on Tuesday, August 11th. JPMorgan Chase & Co. raised their price target on Allstate from $282.00 to $292.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 11th. Mizuho lifted their price objective on Allstate from $255.00 to $272.00 and gave the company an "outperform" rating in a research note on Thursday, July 9th. Keefe, Bruyette & Woods reiterated an "underperform" rating and issued a $250.00 price objective (down from $255.00) on shares of Allstate in a report on Thursday, August 20th. Finally, Weiss Ratings lowered Allstate from a "buy (a)" rating to a "buy (a-)" rating in a research note on Tuesday. Four investment 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 given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $265.26.
View Our Latest Stock Report on ALL
Insider Activity at Allstate
In related news, insider John E. Dugenske sold 32,996 shares of the company's stock in a transaction dated 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 completion of the sale, the insider directly owned 13,054 shares of the company's stock, valued at $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 available through the SEC website. Also, COO Mario Rizzo sold 56,225 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at $21,747,396.96. This represents a 40.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 91,446 shares of company stock valued at $24,208,675 in the last three months. 1.55% of the stock is currently owned by company insiders.
Allstate Price Performance
Allstate stock opened at $262.08 on Thursday. The stock has a market cap of $66.27 billion, a P/E ratio of 5.23, a price-to-earnings-growth ratio of 0.39 and a beta of 0.16. The company has a fifty day simple moving average of $252.60 and a 200-day simple moving average of $226.21. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $277.22. 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 - Get Free Report) last posted its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, topping the consensus estimate of $6.06 by $2.93. The firm 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%.The firm's revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.94 earnings per share. Equities analysts expect that The Allstate Corporation will post 34.45 EPS for the current fiscal year.
Allstate Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, August 31st. Allstate's payout ratio is presently 8.63%.
About Allstate
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding ALL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Allstate Corporation (NYSE:ALL - Free Report).
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