Los Angeles Capital Management LLC Acquires 201,230 Shares of The Allstate Corporation $ALL

Key Points

• Los Angeles Capital Management increased its Allstate stake by 45.2% in the fourth quarter, buying 201,230 additional shares and bringing its total to 646,437 shares valued at about $124.0 million.
• Allstate reported strong quarterly results, with EPS of $10.65 and revenue of $16.94 billion, both well above analyst expectations. The company also posted a 17.81% net margin and 42.66% return on equity.
• Allstate announced a quarterly dividend of $1.08 per share, payable July 1, which works out to an annualized dividend of $4.32 and a 2.0% yield. Analysts currently rate the stock a consensus Moderate Buy with an average price target of $241.67.

Los Angeles Capital Management LLC lifted its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 45.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 646,437 shares of the insurance provider's stock after acquiring an additional 201,230 shares during the quarter. Los Angeles Capital Management LLC owned 0.25% of Allstate worth $124,038,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Caprock Group LLC bought a new stake in Allstate during the 3rd quarter valued at $3,598,000. CIBC Bancorp USA Inc. bought a new stake in Allstate during the 3rd quarter valued at $7,814,000. Elo Mutual Pension Insurance Co raised its holdings in Allstate by 39.6% during the 3rd quarter. Elo Mutual Pension Insurance Co now owns 40,298 shares of the insurance provider's stock valued at $8,650,000 after buying an additional 11,431 shares during the last quarter. Mezzasalma Advisors LLC raised its holdings in 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 last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Allstate by 5.1% during 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 last quarter. 76.47% of the stock is currently owned by institutional investors.

Allstate Stock Up 4.8%

Shares of Allstate stock opened at $220.98 on Friday. 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 company's fifty day simple moving average is $213.31 and its two-hundred day simple moving average is $208.65. The company has a market cap of $56.88 billion, a P/E ratio of 4.87, a PEG ratio of 0.40 and a beta of 0.18. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $227.62.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The company's quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.53 EPS. Research analysts anticipate that The Allstate Corporation will post 29.43 EPS 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 given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, June 1st. Allstate's payout ratio is presently 9.53%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ALL shares. The Goldman Sachs Group reiterated a "neutral" rating and set a $231.00 price target on shares of Allstate in a report on Thursday, March 5th. Wells Fargo & Company upped their price target on shares of Allstate from $229.00 to $243.00 and gave the company an "equal weight" rating in a report on Wednesday, May 6th. Piper Sandler reiterated an "overweight" rating on shares of Allstate in a report on Thursday, May 28th. Weiss Ratings upgraded shares of Allstate from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday, March 23rd. Finally, Zacks Research lowered shares of Allstate from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 7th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Allstate has a consensus rating of "Moderate Buy" and an average target price of $241.67.

Insider Buying and Selling at Allstate

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of the business's stock in a transaction 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 transaction, the insider directly owned 27,558 shares of the company's stock, valued at approximately $5,959,968.66. The trade was a 5.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrea Redmond sold 2,225 shares of the business's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the transaction, the director directly owned 2,225 shares in the company, valued at approximately $451,474.75. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 22,353 shares of company stock valued at $4,851,560. 1.55% of the stock is currently owned by company insiders.

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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