Meeder Advisory Services Inc. Invests $1.67 Million in The Allstate Corporation $ALL

Key Points

• Meeder Advisory Services acquired 7,020 Allstate shares worth approximately $1.67 million in the second quarter. Institutional investors collectively own 76.47% of Allstate’s outstanding stock.
• Analysts maintain a mixed outlook, with Allstate receiving an average “Hold” rating and a consensus price target of $265.53. Recent targets range from $264 to $275.
• Allstate reported quarterly EPS of $8.99, beating estimates of $6.06, while revenue reached $15.43 billion and rose 11.8% year over year. The company also declared a quarterly dividend of $1.08 per share, implying a 1.7% yield.

Meeder Advisory Services Inc. bought a new position in shares of The Allstate Corporation (NYSE:ALL - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,020 shares of the insurance provider's stock, valued at approximately $1,670,000.

Several other hedge funds have also recently bought and sold shares of ALL. Meeder Asset Management Inc. acquired a new position in Allstate during the second quarter valued at approximately $18,452,000. Tiemann Investment Advisors LLC purchased a new position in shares of Allstate in the 2nd quarter valued at $1,730,000. Citizens Financial Group Inc. RI acquired a new position in shares of Allstate during the 2nd quarter valued at $1,174,000. Texas Capital Bank Wealth Management Services Inc acquired a new position in shares of Allstate during the 2nd quarter valued at $331,000. Finally, UNIVEST FINANCIAL Corp purchased a new stake in Allstate during the 2nd quarter worth $418,000. Hedge funds and other institutional investors own 76.47% of the company's stock.

Wall Street Analysts Forecast Growth

ALL has been the topic of several research reports. Mizuho raised their price objective on Allstate from $255.00 to $272.00 and gave the company an "outperform" rating in a research report on Thursday, July 9th. HSBC downgraded Allstate from a "buy" rating to a "hold" rating and upped their target price for the stock from $244.00 to $264.00 in a research report on Monday, July 6th. Wall Street Zen upgraded Allstate from a "hold" rating to a "buy" rating in a report on Monday, July 20th. UBS Group boosted their price target on Allstate from $261.00 to $275.00 and gave the stock a "neutral" rating in a research report on Monday, August 10th. Finally, Morgan Stanley set a $265.00 price target on Allstate in a report on Tuesday, August 11th. Four analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Allstate currently has an average rating of "Hold" and a consensus target price of $265.53.

Allstate Stock Down 0.3%

Shares of NYSE ALL opened at $260.24 on Thursday. The firm has a market cap of $65.80 billion, a price-to-earnings ratio of 5.20, a PEG ratio of 0.40 and a beta of 0.16. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $277.22. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.36 and a current ratio of 0.36. The stock's 50-day simple moving average is $249.00 and its 200-day simple moving average is $224.35.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.06 by $2.93. The company had revenue of $15.43 billion for the quarter, compared to the consensus estimate of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%.Allstate's revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the previous year, the business earned $5.94 EPS. As a group, equities analysts anticipate that The Allstate Corporation will post 34.5 earnings per share for the current fiscal year.

Allstate Announces Dividend

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

Insider Activity at Allstate

In related news, COO Mario Rizzo sold 56,225 shares of the business's stock in a transaction dated 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 sale, the chief operating officer directly owned 82,227 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is available through this link. Also, insider John E. Dugenske sold 32,996 shares of the 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 approximately $3,515,833.82. This represents a 71.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 92,996 shares of company stock worth $24,543,894. 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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