Banque Cantonale Vaudoise Buys 11,175 Shares of The Allstate Corporation $ALL

Key Points

• Banque Cantonale Vaudoise increased its Allstate stake by 70.2% in the first quarter, buying 11,175 additional shares and lifting its total holdings to 27,095 shares worth about $5.6 million.
• Allstate reported strong quarterly earnings, posting $10.65 EPS versus estimates of $7.31, along with revenue of $16.94 billion that also topped expectations.
• The company recently declared a quarterly dividend of $1.08 per share, while analysts currently view the stock as a “Moderate Buy” with an average target price of $240.33.

Banque Cantonale Vaudoise raised its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 70.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,095 shares of the insurance provider's stock after buying an additional 11,175 shares during the quarter. Banque Cantonale Vaudoise's holdings in Allstate were worth $5,618,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC grew its holdings in shares of Allstate by 60.2% during the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock valued at $1,253,000 after buying an additional 2,443 shares during the last quarter. Revolve Wealth Partners LLC purchased a new position in Allstate in the 4th quarter worth approximately $231,000. WINTON GROUP Ltd bought a new position in Allstate in the 2nd quarter valued at approximately $210,000. Treasurer of the State of North Carolina lifted its position in Allstate by 2.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 123,272 shares of the insurance provider's stock valued at $24,816,000 after acquiring an additional 3,051 shares in the last quarter. Finally, Ieq Capital LLC boosted its stake in Allstate by 20.1% during the 2nd quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider's stock valued at $7,713,000 after purchasing an additional 6,412 shares during the last quarter. 76.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ALL shares. Keefe, Bruyette & Woods lowered Allstate from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $266.00 to $242.00 in a report on Monday, June 8th. Mizuho dropped their price objective on Allstate from $281.00 to $265.00 and set an "outperform" rating on the stock in a research report on Friday, March 20th. Wells Fargo & Company lifted their price objective on Allstate from $229.00 to $243.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 6th. Citigroup boosted their target price on Allstate from $221.00 to $226.00 and gave the stock a "neutral" rating in a research report on Friday, May 1st. Finally, Piper Sandler restated an "overweight" rating on shares of Allstate in a research note on Thursday, May 28th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $240.33.

Allstate Price Performance

Shares of ALL opened at $233.98 on Thursday. The firm has a fifty day simple moving average of $216.91 and a two-hundred day simple moving average of $209.68. The firm has a market cap of $60.23 billion, a PE ratio of 5.16, a P/E/G ratio of 0.41 and a beta of 0.18. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $236.39.

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 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 company had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter in the prior year, the company earned $3.53 earnings per share. Allstate's revenue was up 3.0% on a year-over-year basis. On average, equities analysts anticipate that The Allstate Corporation will post 29.75 EPS for the current year.

Allstate Dividend Announcement

The firm 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 dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.8%. Allstate's payout ratio is presently 9.53%.

Insider Transactions at Allstate

In other 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 completion of the sale, the insider directly owned 27,558 shares in the company, valued at $5,959,968.66. This represents a 5.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Andrea Redmond sold 2,225 shares of the firm's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the transaction, 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 SEC filing for this sale provides additional information. Insiders sold 22,353 shares of company stock worth $4,851,560 in the last three months. Corporate 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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