Meeder Asset Management Inc. Increases Holdings in The Allstate Corporation $ALL

Key Points

• Meeder Asset Management dramatically increased its Allstate stake in the first quarter, raising holdings by 82,091.2% to 55,890 shares valued at about $11.6 million.
• Allstate reported better-than-expected Q1 earnings, with EPS of $10.65 versus $7.31 expected and revenue of $16.94 billion versus $15.24 billion forecast.
• The company declared a quarterly dividend of $1.08 per share, which equals an annualized payout of $4.32 and a yield of 1.7%.

Meeder Asset Management Inc. grew its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 82,091.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,890 shares of the insurance provider's stock after acquiring an additional 55,822 shares during the quarter. Meeder Asset Management Inc.'s holdings in Allstate were worth $11,588,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in shares of Allstate by 5.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,804,615 shares of the insurance provider's stock worth $581,515,000 after purchasing an additional 154,259 shares during the last quarter. Parallel Advisors LLC grew its position in Allstate by 11.9% during the 1st quarter. Parallel Advisors LLC now owns 8,615 shares of the insurance provider's stock valued at $1,786,000 after purchasing an additional 919 shares during the last quarter. Decker Wealth Management LLC purchased a new stake in Allstate during the 1st quarter valued at about $270,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Allstate during the 1st quarter valued at about $30,000. Finally, Little House Capital LLC purchased a new position in Allstate in the first quarter worth about $2,077,000. 76.47% of the stock is currently owned by institutional investors.

Insider Activity at Allstate

In related news, insider Mark Q. Prindiville sold 1,550 shares of the company's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the sale, the insider owned 27,558 shares in the company, valued at approximately $5,959,968.66. This represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrea Redmond sold 2,225 shares of the stock in a transaction dated Monday, June 1st. The shares were 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 approximately $451,474.75. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 22,353 shares of company stock worth $4,851,560. 1.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Zacks Research downgraded shares of Allstate from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 7th. Citigroup boosted their price objective on shares of Allstate from $221.00 to $226.00 and gave the stock a "neutral" rating in a report on Friday, May 1st. HSBC cut Allstate from a "buy" rating to a "hold" rating and upped their price objective for the company from $244.00 to $264.00 in a research report on Monday, July 6th. UBS Group downgraded Allstate from a "buy" rating to a "neutral" rating and increased their target price for the company from $255.00 to $261.00 in a research note on Wednesday, July 15th. Finally, Cantor Fitzgerald lifted their target price on Allstate from $236.00 to $242.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $254.80.

Allstate Trading Down 0.0%

Shares of ALL stock opened at $249.84 on Monday. 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 12-month low of $188.08 and a 12-month high of $257.67. The stock has a market capitalization of $64.31 billion, a P/E ratio of 5.51, a P/E/G ratio of 0.43 and a beta of 0.16. The firm's 50 day moving average is $227.29 and its 200 day moving average is $214.40.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating analysts' consensus estimates of $7.31 by $3.34. The business had revenue of $16.94 billion during the quarter, compared to analyst estimates 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 business earned $3.53 EPS. Research analysts expect that The Allstate Corporation will post 30.4 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be issued a $1.08 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. Allstate's payout ratio is presently 9.53%.

About Allstate

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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