Goldman Sachs Group Inc. Has $425.76 Million Stake in The Allstate Corporation $ALL

Key Points

• Goldman Sachs increased its Allstate stake by 21.6% in the fourth quarter, bringing its holdings to 2,045,435 shares valued at about $425.8 million.
• Allstate reported strong quarterly results, with EPS of $10.65 beating estimates of $7.31 and revenue of $16.94 billion topping expectations. Analysts now have a consensus rating of Moderate Buy with an average target price of $241.67.
• The company declared a quarterly dividend of $1.08 per share, payable July 1, and recent insider activity included stock sales by executives, while institutional investors continue to own the majority of shares.

Goldman Sachs Group Inc. increased its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 21.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,045,435 shares of the insurance provider's stock after purchasing an additional 363,668 shares during the period. Goldman Sachs Group Inc. owned approximately 0.78% of Allstate worth $425,757,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Dorato Capital Management acquired a new stake in shares of Allstate in the 4th quarter valued at about $27,000. Navalign LLC acquired a new position in shares of Allstate during the fourth quarter worth about $27,000. Princeton Global Asset Management LLC grew its holdings in shares of Allstate by 101.3% during the fourth quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider's stock worth $31,000 after buying an additional 76 shares in the last quarter. Palisade Asset Management LLC bought a new position in shares of Allstate during the third quarter worth about $31,000. Finally, South Plains Financial Inc. raised its position in 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 during the last quarter. Institutional investors own 76.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ALL shares. Weiss Ratings upgraded Allstate from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday, March 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Allstate from $260.00 to $263.00 and gave the company an "overweight" rating in a report on Thursday, February 5th. Raymond James Financial reissued a "strong-buy" rating and issued a $260.00 price objective on shares of Allstate in a research report on Tuesday, March 3rd. Keefe, Bruyette & Woods increased their target price on shares of Allstate from $260.00 to $266.00 and gave the stock an "outperform" rating in a report on Thursday, May 7th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $220.00 target price on shares of Allstate in a research report on Thursday, February 5th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $241.67.

Allstate Stock Performance

Shares of NYSE ALL opened at $210.73 on Friday. 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 stock has a 50 day moving average price of $212.98 and a 200 day moving average price of $208.57. The stock has a market capitalization of $54.25 billion, a PE ratio of 4.65, a price-to-earnings-growth ratio of 0.37 and a beta of 0.18. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $227.62.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $16.94 billion for 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 was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.53 EPS. Analysts predict that The Allstate Corporation will post 29.43 earnings per share for the current fiscal year.

Allstate Dividend Announcement

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

Insiders Place Their Bets

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of the 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 sale, the insider owned 27,558 shares in the company, valued at $5,959,968.66. This trade represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Mario Rizzo sold 18,578 shares of Allstate stock in a transaction dated 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 completion of the transaction, the chief operating officer directly owned 82,227 shares of the company's stock, valued at approximately $17,991,267.60. This trade represents a 18.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 22,353 shares of company stock valued at $4,851,560. 1.55% of the stock is currently owned by corporate 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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