Dimensional Fund Advisors LP Purchases 154,259 Shares of The Allstate Corporation $ALL

Key Points

• Dimensional Fund Advisors LP boosted its Allstate stake by 5.8% in the first quarter, buying 154,259 additional shares and bringing its holdings to 2.8 million shares worth about $581.5 million.
• Allstate reported a strong quarterly earnings beat, posting $10.65 EPS versus the $7.31 estimate and revenue of $16.94 billion versus expectations of $15.24 billion.
• The company also announced a quarterly dividend of $1.08 per share, payable October 1, while analysts currently rate the stock a Moderate Buy with an average target price of $254.80.

Dimensional Fund Advisors LP increased its position in The Allstate Corporation (NYSE:ALL - Free Report) by 5.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,804,615 shares of the insurance provider's stock after purchasing an additional 154,259 shares during the period. Dimensional Fund Advisors LP owned 1.09% of Allstate worth $581,515,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Allstate by 5.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552,120 shares of the insurance provider's stock worth $112,533,000 after acquiring an additional 26,586 shares during the period. Mezzasalma Advisors LLC lifted its position in Allstate by 58.6% during the fourth quarter. Mezzasalma Advisors LLC now owns 23,918 shares of the insurance provider's stock valued at $4,875,000 after purchasing an additional 8,837 shares during the period. Meyer Handelman Co. boosted its holdings in Allstate by 4.8% in the fourth quarter. Meyer Handelman Co. now owns 206,787 shares of the insurance provider's stock worth $43,043,000 after purchasing an additional 9,438 shares during the last quarter. OFI Invest Asset Management purchased a new stake in Allstate in the fourth quarter worth approximately $23,074,000. Finally, Strategic Global Advisors LLC grew its position in Allstate by 19.2% in the 4th quarter. Strategic Global Advisors LLC now owns 48,882 shares of the insurance provider's stock worth $10,175,000 after purchasing an additional 7,870 shares during the period. Institutional investors own 76.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ALL shares. Zacks Research cut Allstate from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 7th. Piper Sandler reaffirmed an "overweight" rating on shares of Allstate in a report on Thursday, May 28th. UBS Group cut Allstate from a "buy" rating to a "neutral" rating and upped their price objective for the company from $255.00 to $261.00 in a research report on Wednesday, July 15th. Roth Capital reissued a "buy" rating and issued a $275.00 target price on shares of Allstate in a report on Friday. Finally, HSBC cut Allstate from a "buy" rating to a "hold" rating and raised their target price for the stock from $244.00 to $264.00 in a research report on Monday, July 6th. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $254.80.

Allstate Stock Up 1.5%

ALL opened at $253.73 on Tuesday. The firm's 50 day simple moving average is $228.09 and its two-hundred day simple moving average is $214.72. The company has a market capitalization of $65.32 billion, a PE ratio of 5.60, a PEG ratio of 0.43 and a beta of 0.16. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $257.67. 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 issued its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.31 by $3.34. The firm had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The company's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.53 EPS. As a group, equities analysts forecast that The Allstate Corporation will post 30.4 EPS for the current year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be given a dividend of $1.08 per share. The ex-dividend date is Monday, August 31st. This represents a $4.32 annualized dividend and a yield of 1.7%. Allstate's payout ratio is 9.53%.

Insider Buying and Selling at Allstate

In related news, COO Mario Rizzo sold 18,578 shares of the business's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $17,991,267.60. The trade was a 18.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andrea Redmond sold 2,225 shares of the company's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following the completion of the transaction, the director owned 2,225 shares of the company's stock, valued at approximately $451,474.75. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 22,353 shares of company stock valued at $4,851,560. Company 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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