Eurizon Capital SGR S.p.A. Purchases Shares of 58,957 The Allstate Corporation $ALL

Key Points

• Eurizon Capital SGR S.p.A. initiated a new position in Allstate during the fourth quarter, buying 58,957 shares valued at about $12.27 million.
• Allstate reported strong quarterly results, with EPS of $10.65 and revenue of $16.94 billion, both above analyst expectations.
• The company declared a quarterly dividend of $1.08 per share, which translates to an annualized dividend of $4.32 and a yield of about 2.1%.

Eurizon Capital SGR S.p.A. purchased a new stake in The Allstate Corporation (NYSE:ALL - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 58,957 shares of the insurance provider's stock, valued at approximately $12,273,000.

Other hedge funds also recently made changes to their positions in the company. Dorato Capital Management acquired a new stake in shares of Allstate in the fourth quarter valued at approximately $27,000. Navalign LLC acquired a new stake in shares of Allstate in the fourth quarter valued at approximately $27,000. Princeton Global Asset Management LLC lifted its position in shares of Allstate by 101.3% in the fourth quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider's stock valued at $31,000 after buying an additional 76 shares during the last quarter. Palisade Asset Management LLC acquired a new stake in shares of Allstate in the third quarter valued at approximately $31,000. Finally, South Plains Financial Inc. lifted its position in shares of Allstate by 41.5% in the third 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 during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Allstate

In other Allstate news, COO Mario Rizzo sold 18,578 shares of Allstate stock in a transaction on Friday, May 1st. The stock was sold at an average price of $218.80, for a total value of $4,064,866.40. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares of the company's stock, valued at $17,991,267.60. The trade was a 18.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the transaction, the insider directly owned 27,558 shares of the company's stock, valued at $5,959,968.66. This represents a 5.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.55% of the stock is owned by insiders.

Trending Headlines about Allstate

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Allstate remains fundamentally strong after its latest quarter, with earnings per share and revenue both beating expectations, which supports the bull case for the stock. Insider Selling: Allstate NYSE: ALL Insider Sells 1,550 Shares of Stock
• Positive Sentiment: Several analyst and research notes continue to frame Allstate as undervalued or fairly attractive, and the stock still carries a moderate buy consensus with a higher average price target. Allstate (ALL) Down 4.6% Since Last Earnings Report: Can It Rebound?
• Neutral Sentiment: Allstate announced estimated April catastrophe losses of $870 million pre-tax, which is a reminder that weather-related claims can create earnings volatility and may temper sentiment near term. Is Allstate (ALL) the Most Undervalued Stock to Invest In?
• Neutral Sentiment: A consumer-focused article highlighting car insurance for road trips is not a direct company-specific catalyst, but it keeps attention on auto insurance demand and the broader insurance category. Driving instead of flying? Here's the best car insurance for road trips
• Negative Sentiment: One insider sold 1,550 shares, and while the sale was small relative to the company, insider selling can weigh on short-term sentiment. Insider Selling: Allstate NYSE: ALL Insider Sells 1,550 Shares of Stock

Allstate Stock Performance

NYSE:ALL opened at $206.51 on Monday. The stock has a market cap of $53.16 billion, a P/E ratio of 4.56, a PEG ratio of 0.37 and a beta of 0.19. The stock has a 50 day simple moving average of $212.70 and a 200 day simple moving average of $208.59. 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 $227.62.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping the consensus estimate 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 firm's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the firm posted $3.53 EPS. Research analysts anticipate that The Allstate Corporation will post 29.11 earnings per share for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a $1.08 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $4.32 annualized dividend and a yield of 2.1%. Allstate's payout ratio is currently 9.53%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ALL. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $260.00 price objective on shares of Allstate in a research report on Tuesday, March 3rd. Wells Fargo & Company raised their price objective on Allstate from $229.00 to $243.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 6th. Barclays raised their price objective on Allstate from $207.00 to $208.00 and gave the company an "underweight" rating in a research report on Wednesday, April 8th. Piper Sandler reaffirmed an "overweight" rating on shares of Allstate in a research report on Thursday. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $220.00 price objective on shares of Allstate in a research report on Thursday, February 5th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $241.67.

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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