Invst LLC Invests $1.44 Million in The Allstate Corporation $ALL

Key Points

• Invst LLC purchased 6,070 Allstate shares worth approximately $1.44 million in the second quarter. Institutional investors collectively own 76.47% of the insurer.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $265.26; individual targets range from $242 to $315.
• Allstate reported strong quarterly results, posting EPS of $8.99 versus the $6.06 estimate and revenue of $18.60 billion. The company also declared a quarterly dividend of $1.08 per share, representing a 1.7% yield.

Invst LLC purchased a new stake in The Allstate Corporation (NYSE:ALL - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,070 shares of the insurance provider's stock, valued at approximately $1,444,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Gables Capital Management Inc. bought a new position in shares of Allstate during the second quarter worth $26,000. Allied Private Wealth LLC bought a new stake in shares of Allstate in the 2nd quarter valued at $29,000. Kelleher Financial Advisors acquired a new stake in Allstate during the 2nd quarter worth $28,000. MV Capital Management Inc. acquired a new stake in Allstate during the 4th quarter worth $25,000. Finally, Navalign LLC bought a new position in Allstate during the fourth quarter worth about $27,000. Institutional investors own 76.47% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ALL shares. Cantor Fitzgerald increased their price target on Allstate from $236.00 to $242.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Wall Street Zen upgraded Allstate from a "hold" rating to a "buy" rating in a research report on Monday, July 20th. Piper Sandler increased their target price on Allstate from $268.00 to $300.00 and gave the stock an "overweight" rating in a research note on Monday, August 10th. Roth Capital set a $300.00 target price on shares of Allstate in a report on Thursday, August 6th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $315.00 price target on shares of Allstate in a research note on Tuesday, August 11th. Four equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $265.26.

Insider Activity at Allstate

In other Allstate news, Director Andrea Redmond sold 2,225 shares of the firm'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 value of $451,474.75. Following the completion of the transaction, the director directly owned 2,225 shares in the company, valued at $451,474.75. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John E. Dugenske sold 32,996 shares of the business's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $269.33, for a total value of $8,886,812.68. Following the transaction, the insider directly owned 13,054 shares in the company, valued at $3,515,833.82. This trade represents a 71.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 91,446 shares of company stock valued at $24,208,675. 1.55% of the stock is owned by insiders.

Allstate Stock Performance

Shares of ALL opened at $257.72 on Wednesday. The stock has a market capitalization of $65.17 billion, a price-to-earnings ratio of 5.15, a PEG ratio of 0.40 and a beta of 0.16. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $277.22. The firm has a fifty day simple moving average of $251.80 and a 200 day simple moving average of $225.88. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.06 by $2.93. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The firm had revenue of $18.60 billion for the quarter, compared to analyst estimates of $15.46 billion. During the same period in the previous year, the business earned $5.94 EPS. The company's revenue was up 11.8% compared to the same quarter last year. Research analysts forecast that The Allstate Corporation will post 34.45 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be issued a $1.08 dividend. The ex-dividend date is Monday, August 31st. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. Allstate's dividend payout ratio (DPR) is presently 8.63%.

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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