9,377 Shares in The Allstate Corporation $ALL Acquired by Osmosis Investment Management UK Ltd

Key Points

• Osmosis Investment Management UK acquired 9,377 Allstate shares during the second quarter, worth approximately $2.23 million. Institutional investors and hedge funds collectively own 76.47% of Allstate.
• Allstate reported strong quarterly results, earning $8.99 per share versus the $6.06 consensus estimate, while revenue rose 11.8% year over year to $18.60 billion. The company also announced a quarterly dividend of $1.08 per share, representing a 1.7% annualized yield.
• Analyst sentiment remains mixed, with the stock carrying an average “Hold” rating and a $265.26 price target. Meanwhile, insiders sold 91,446 shares worth approximately $24.2 million over the past 90 days.

Osmosis Investment Management UK Ltd purchased a new stake in 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. The fund purchased 9,377 shares of the insurance provider's stock, valued at approximately $2,231,000.

Several other hedge funds have also added to or reduced their stakes in ALL. MV Capital Management Inc. acquired a new stake in Allstate during the 4th quarter worth approximately $25,000. Gables Capital Management Inc. acquired a new position in shares of Allstate during the 2nd quarter worth about $26,000. Navalign LLC bought a new position in Allstate in the fourth quarter valued at approximately $27,000. Kelleher Financial Advisors acquired a new position in Allstate during the second quarter worth $28,000. Finally, Evolution Wealth Management Inc. grew its position in shares of Allstate by 7,000.0% in the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider's stock valued at $29,000 after acquiring an additional 140 shares during the period. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Stock Performance

NYSE:ALL opened at $260.35 on Tuesday. The company has a market cap of $65.83 billion, a price-to-earnings ratio of 5.20, a PEG ratio of 0.39 and a beta of 0.16. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $277.22. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a fifty day moving average price of $251.11 and a 200-day moving average price of $225.53.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, beating the consensus estimate of $6.06 by $2.93. The business had revenue of $18.60 billion during the quarter, compared to the consensus estimate of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The company's revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the business earned $5.94 earnings per share. As a group, equities analysts anticipate that The Allstate Corporation will post 34.45 EPS for the current fiscal year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, August 31st. Allstate's payout ratio is presently 8.63%.

Insider Activity

In related news, COO Mario Rizzo sold 56,225 shares of the company'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 sale, the chief operating officer directly owned 82,227 shares in the company, valued at $21,747,396.96. This represents a 40.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Andrea Redmond sold 2,225 shares of the company's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the completion of the sale, the director directly owned 2,225 shares in the company, valued at approximately $451,474.75. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 91,446 shares of company stock valued at $24,208,675. Insiders own 1.55% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Morgan Stanley set a $265.00 price target on Allstate in a report on Tuesday, August 11th. Evercore set a $240.00 price objective on Allstate in a research report on Friday, July 10th. Citigroup downgraded Allstate from a "neutral" rating to a "sell" rating and lifted their target price for the stock from $226.00 to $240.00 in a research note on Tuesday, August 11th. Wells Fargo & Company lowered Allstate from an "equal weight" rating to an "underweight" rating and boosted their target price for the stock from $243.00 to $250.00 in a report on Friday, August 7th. Finally, Atlantic Securities set a $319.00 price target on Allstate in a report on Wednesday, July 15th. Four analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $265.26.

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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