Magnolia Capital Advisors LLC acquired a new position in shares of The Allstate Corporation (NYSE:ALL - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 5,629 shares of the insurance provider's stock, valued at approximately $1,339,000.
A number of other institutional investors also recently made changes to their positions in ALL. Coldstream Capital Management Inc. grew its position in shares of Allstate by 0.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider's stock worth $1,625,000 after buying an additional 50 shares in the last quarter. Compound Planning Inc. increased its stake in shares of Allstate by 1.6% in the fourth quarter. Compound Planning Inc. now owns 3,216 shares of the insurance provider's stock worth $669,000 after buying an additional 50 shares during the last quarter. Cullen Frost Bankers Inc. raised its holdings in Allstate by 0.9% in the fourth quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider's stock valued at $1,210,000 after acquiring an additional 52 shares in the last quarter. Root Financial Partners LLC boosted its stake in Allstate by 4.7% during the 1st quarter. Root Financial Partners LLC now owns 1,170 shares of the insurance provider's stock valued at $243,000 after acquiring an additional 53 shares during the last quarter. Finally, Montag A & Associates Inc. boosted its stake in Allstate by 10.2% during the 4th quarter. Montag A & Associates Inc. now owns 596 shares of the insurance provider's stock valued at $125,000 after acquiring an additional 55 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Allstate
In other Allstate news, COO Mario Rizzo sold 56,225 shares of Allstate stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total value of $14,870,388.00. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares in the company, valued at $21,747,396.96. The trade was a 40.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John E. Dugenske sold 32,996 shares of Allstate stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $269.33, for a total value of $8,886,812.68. Following the completion of the transaction, the insider owned 13,054 shares of the company's stock, valued at approximately $3,515,833.82. The trade was a 71.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 91,446 shares of company stock valued at $24,208,675 in the last quarter. Insiders own 1.55% of the company's stock.
Analyst Ratings Changes
Several brokerages have weighed in on ALL. Piper Sandler raised their price objective on shares of Allstate from $268.00 to $300.00 and gave the stock an "overweight" rating in a report on Monday, August 10th. Cantor Fitzgerald increased their price target on shares of Allstate from $236.00 to $242.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Keefe, Bruyette & Woods reaffirmed an "underperform" rating and set a $250.00 price target (down from $255.00) on shares of Allstate in a research report on Thursday, August 20th. Weiss Ratings downgraded Allstate from a "buy (a)" rating to a "buy (a-)" rating in a research note on Tuesday. Finally, Morgan Stanley set a $265.00 price objective on Allstate in a report on Tuesday, August 11th. Four investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $265.26.
Check Out Our Latest Stock Analysis on Allstate
Allstate Stock Performance
Allstate stock opened at $262.08 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $277.22. The company has a fifty day moving average price of $252.60 and a two-hundred day moving average price of $226.21. The company has a market cap of $66.27 billion, a PE ratio of 5.23, a P/E/G ratio of 0.39 and a beta of 0.16.
Allstate (NYSE:ALL - Get Free Report) last issued its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, topping analysts' consensus estimates of $6.06 by $2.93. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The company had revenue of $18.60 billion for the quarter, compared to analysts' expectations of $15.46 billion. During the same period in the prior year, the company earned $5.94 earnings per share. The firm's revenue was up 11.8% compared to the same quarter last year. Research analysts expect that The Allstate Corporation will post 34.45 earnings per share for the current year.
Allstate Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, August 31st. Allstate's dividend payout ratio is currently 8.63%.
About Allstate
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding ALL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Allstate Corporation (NYSE:ALL - Free Report).
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