Glenmede Trust Co. NA Acquires 17,951 Shares of The Allstate Corporation $ALL

Key Points

• Glenmede Trust increased its Allstate holdings by 16.7% in the first quarter, purchasing 17,951 additional shares and bringing its position to 125,729 shares valued at approximately $26.1 million. Institutional investors collectively own 76.47% of Allstate.
• Allstate reported quarterly EPS of $10.65, well above the $7.31 analyst consensus, while revenue reached $16.94 billion, up 3% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $254.80.
• The company declared a quarterly dividend of $1.08 per share, equivalent to $4.32 annually and a 1.6% yield; shares recently opened at $264.53.

Glenmede Trust Co. NA raised its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 16.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 125,729 shares of the insurance provider's stock after purchasing an additional 17,951 shares during the quarter. Glenmede Trust Co. NA's holdings in Allstate were worth $26,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in ALL. MV Capital Management Inc. purchased a new position in shares of Allstate in the 4th quarter worth about $25,000. Dorato Capital Management purchased a new stake in Allstate during the fourth quarter worth about $27,000. Navalign LLC bought a new stake in Allstate in the fourth quarter worth about $27,000. Evolution Wealth Management Inc. boosted its stake in 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 acquiring an additional 140 shares during the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Allstate during the 1st quarter valued at approximately $30,000. 76.47% of the stock is currently owned by institutional investors.

Allstate Stock Down 0.3%

Allstate stock opened at $264.53 on Friday. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $277.22. The firm has a market capitalization of $68.10 billion, a price-to-earnings ratio of 5.84, a P/E/G ratio of 0.45 and a beta of 0.16. 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 firm has a 50 day simple moving average of $235.94 and a 200 day simple moving average of $218.05.

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, beating analysts' consensus estimates of $7.31 by $3.34. The business had revenue of $16.94 billion for the quarter, compared to analysts' expectations of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The business'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. On average, analysts predict that The Allstate Corporation will post 30.74 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders 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 annualized dividend and a dividend yield of 1.6%. Allstate's payout ratio is 9.53%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Cantor Fitzgerald upped their price objective on Allstate from $236.00 to $242.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. Keefe, Bruyette & Woods boosted their target price on Allstate from $242.00 to $255.00 and gave the company a "market perform" rating in a research note on Wednesday, July 8th. JPMorgan Chase & Co. boosted their target price on Allstate from $263.00 to $282.00 and gave the company an "overweight" rating in a research note on Tuesday, July 14th. Atlantic Securities set a $319.00 price target on Allstate in a research note on Wednesday, July 15th. Finally, Citigroup lifted their price objective on Allstate from $221.00 to $226.00 and gave the stock a "neutral" rating in a report on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Allstate currently has an average rating of "Moderate Buy" and a consensus price target of $254.80.

Insiders Place Their Bets

In other Allstate news, Director Andrea Redmond sold 2,225 shares of Allstate stock in a transaction dated 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 $451,474.75. The trade was a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Q. Prindiville sold 1,550 shares of the company's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value of $335,218.50. Following the sale, the insider owned 27,558 shares in the company, valued at approximately $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. 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.

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