Empowered Funds LLC Has $32.40 Million Stake in The Allstate Corporation $ALL

Key Points

• Empowered Funds LLC increased its Allstate position by 16.4% in the first quarter, holding 156,254 shares valued at approximately $32.4 million. Institutional investors collectively own 76.47% of Allstate’s stock.
• Allstate reported quarterly EPS of $10.65, exceeding the $7.31 analyst consensus, while revenue rose 3% year over year to $16.94 billion. Analysts have a “Moderate Buy” consensus rating and an average price target of $254.80.
• Allstate declared a quarterly dividend of $1.08 per share, equivalent to $4.32 annually and a 1.7% yield. The stock recently traded at $261.37, near its 12-month high of $262.24.

Empowered Funds LLC raised its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 16.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,254 shares of the insurance provider's stock after purchasing an additional 22,060 shares during the period. Empowered Funds LLC owned 0.06% of Allstate worth $32,398,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. MV Capital Management Inc. acquired a new position in shares of Allstate during the 4th quarter worth about $25,000. Dorato Capital Management acquired a new position in shares of Allstate during the fourth quarter worth approximately $27,000. Navalign LLC bought a new stake in shares of Allstate in the fourth quarter valued at approximately $27,000. Evolution Wealth Management Inc. lifted its stake in shares of Allstate by 7,000.0% in the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider's stock valued at $29,000 after buying an additional 140 shares during the period. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Allstate during the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Trading Up 0.5%

Shares of NYSE:ALL opened at $261.37 on Tuesday. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $262.24. The business has a 50 day moving average of $231.96 and a 200-day moving average of $216.45. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The stock has a market cap of $67.28 billion, a PE ratio of 5.77, a P/E/G ratio of 0.45 and a beta of 0.16.

Allstate (NYSE:ALL - Get Free Report) last announced 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. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The firm had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same quarter in the prior year, the business posted $3.53 EPS. The business's revenue was up 3.0% compared to the same quarter last year. As a group, equities research analysts forecast that The Allstate Corporation will post 30.51 earnings per share for the current year.

Allstate Announces Dividend

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

Analyst Ratings Changes

Several research analysts have issued reports on ALL shares. JPMorgan Chase & Co. increased their price objective on Allstate from $263.00 to $282.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 14th. Cantor Fitzgerald increased their price objective on shares of Allstate from $236.00 to $242.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Zacks Research downgraded shares of Allstate from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 7th. Mizuho upped their target price on shares of Allstate from $255.00 to $272.00 and gave the stock an "outperform" rating in a research report on Thursday, July 9th. Finally, Morgan Stanley increased their price objective on Allstate from $215.00 to $240.00 and gave the company an "equal weight" rating in a research report on Monday, July 6th. Three investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Allstate has an average rating of "Moderate Buy" and a consensus target price of $254.80.

Insider Buying and Selling

In other news, insider Mark Q. Prindiville sold 1,550 shares of the firm's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the transaction, the insider owned 27,558 shares of the company's stock, valued at approximately $5,959,968.66. This trade represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the director directly owned 2,225 shares of the company's stock, 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. Insiders have sold 22,353 shares of company stock worth $4,851,560 in the last 90 days. Insiders own 1.55% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.