Corient Private Wealth LLC Buys 11,119 Shares of The Allstate Corporation $ALL

Key Points

• Corient Private Wealth LLC increased its stake in Allstate by 4.6% in the fourth quarter, buying 11,119 additional shares and bringing its total holding to 250,249 shares worth about $52.1 million.
• Allstate reported strong first-quarter results, with EPS of $10.65 and revenue of $16.94 billion, both beating analyst expectations. The company also posted a 42.66% return on equity.
• The stock has modest Wall Street support, with a consensus rating of “Moderate Buy” and an average price target of $240.33. Allstate also announced a quarterly dividend of $1.08 per share, yielding about 2.0% annually.

Corient Private Wealth LLC boosted its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 4.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 250,249 shares of the insurance provider's stock after purchasing an additional 11,119 shares during the quarter. Corient Private Wealth LLC owned about 0.10% of Allstate worth $52,092,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. South Plains Financial Inc. raised its position in shares of 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 buying an additional 49 shares in the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of Allstate by 0.6% during the 4th quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider's stock worth $1,625,000 after acquiring an additional 50 shares during the period. Compound Planning Inc. boosted its position in shares of 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 acquiring an additional 50 shares in the last quarter. Humankind Investments LLC boosted its position 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 acquiring an additional 51 shares in the last quarter. Finally, Cullen Frost Bankers Inc. increased its stake in Allstate by 0.9% in 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. Institutional investors own 76.47% of the company's stock.

Wall Street Analyst Weigh In

ALL has been the subject of several research analyst reports. Piper Sandler restated an "overweight" rating on shares of Allstate in a research report on Thursday, May 28th. Citigroup raised their target price on Allstate from $221.00 to $226.00 and gave the company a "neutral" rating in a report on Friday, May 1st. Weiss Ratings upgraded Allstate from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday, March 23rd. Raymond James Financial restated a "strong-buy" rating and set a $260.00 price objective on shares of Allstate in a research report on Tuesday, March 3rd. Finally, Mizuho lowered their target price on Allstate from $281.00 to $265.00 and set an "outperform" rating for the company in a research note on Friday, March 20th. Three research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $240.33.

Allstate Stock Down 0.2%

Shares of NYSE:ALL opened at $220.72 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $227.62. The company has a market capitalization of $56.82 billion, a PE ratio of 4.87, a price-to-earnings-growth ratio of 0.39 and a beta of 0.19. The company has a fifty day moving average of $215.95 and a 200-day moving average of $209.23.

Allstate (NYSE:ALL - Get Free Report) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.31 by $3.34. The business had revenue of $16.94 billion during the quarter, compared to analysts' expectations of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The business's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.53 EPS. On average, equities analysts predict that The Allstate Corporation will post 29.55 EPS for the current fiscal year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid 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 2.0%. Allstate's dividend payout ratio is currently 9.53%.

Insider Activity

In related news, COO Mario Rizzo sold 18,578 shares of Allstate stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the sale, the chief operating officer directly owned 82,227 shares in the company, valued at $17,991,267.60. This trade represents a 18.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark Q. Prindiville sold 1,550 shares of the business's stock in a transaction that occurred 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 sale, the insider directly owned 27,558 shares in the company, valued at $5,959,968.66. The trade was a 5.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 22,353 shares of company stock valued at $4,851,560 over the last quarter. 1.55% of the stock is owned by company insiders.

Allstate 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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