Johnson Financial Group Inc. Has $3.77 Million Stock Position in The Allstate Corporation $ALL

Key Points

• Johnson Financial Group boosted its Allstate stake by 47.9% in the first quarter, bringing its holdings to 18,111 shares valued at about $3.77 million.
• Allstate reported strong quarterly results, with EPS of $10.65 versus the $7.31 consensus estimate and revenue of $16.94 billion, while full-year EPS estimates stand at 30.4.
• The company also declared a quarterly dividend of $1.08 per share and has seen multiple analyst target-price increases, with the stock carrying a Moderate Buy consensus and an average target of $254.80.

Johnson Financial Group Inc. increased its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 47.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,111 shares of the insurance provider's stock after purchasing an additional 5,862 shares during the quarter. Johnson Financial Group Inc.'s holdings in Allstate were worth $3,774,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Allstate by 5.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552,120 shares of the insurance provider's stock valued at $112,533,000 after buying an additional 26,586 shares during the period. Mezzasalma Advisors LLC boosted its stake in shares of Allstate by 58.6% during the 4th quarter. Mezzasalma Advisors LLC now owns 23,918 shares of the insurance provider's stock valued at $4,875,000 after buying an additional 8,837 shares during the period. Meyer Handelman Co. boosted its stake in shares of Allstate by 4.8% during the 4th quarter. Meyer Handelman Co. now owns 206,787 shares of the insurance provider's stock valued at $43,043,000 after buying an additional 9,438 shares during the period. OFI Invest Asset Management purchased a new position in shares of Allstate during the 4th quarter valued at $23,074,000. Finally, Strategic Global Advisors LLC grew its holdings in shares of Allstate by 19.2% during the 4th quarter. Strategic Global Advisors LLC now owns 48,882 shares of the insurance provider's stock valued at $10,175,000 after acquiring an additional 7,870 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company's stock.

Insider Activity at Allstate

In other Allstate news, Director Andrea Redmond sold 2,225 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following the transaction, the director 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction that occurred 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 directly owned 27,558 shares in the company, valued at approximately $5,959,968.66. This represents a 5.32% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 22,353 shares of company stock valued at $4,851,560. Corporate insiders own 1.55% of the company's stock.

Allstate Stock Up 1.5%

ALL stock opened at $253.73 on Tuesday. 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 $257.67. The company has a fifty day simple moving average of $228.09 and a 200 day simple moving average of $214.72. The firm has a market cap of $65.32 billion, a PE ratio of 5.60, a PEG ratio of 0.43 and a beta of 0.16.

Allstate (NYSE:ALL - Get Free Report) last posted its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $15.24 billion. During the same period in the prior year, the business posted $3.53 earnings per share. The business's quarterly revenue was up 3.0% on a year-over-year basis. Sell-side analysts anticipate that The Allstate Corporation will post 30.4 EPS for the current fiscal year.

Allstate Announces Dividend

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 dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.7%. Allstate's dividend payout ratio is currently 9.53%.

Analysts Set New Price Targets

Several brokerages recently issued reports on ALL. Citigroup increased 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. Wells Fargo & Company boosted their target price on Allstate from $229.00 to $243.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 6th. UBS Group lowered Allstate from a "buy" rating to a "neutral" rating and upped their target price for the stock from $255.00 to $261.00 in a research report on Wednesday, July 15th. Morgan Stanley raised their price target on Allstate from $215.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Monday, July 6th. Finally, Mizuho lifted their price target on Allstate from $255.00 to $272.00 and gave the company an "outperform" rating in a report on Thursday, July 9th. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $254.80.

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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