MUFG Securities EMEA plc Grows Position in The Allstate Corporation $ALL

Key Points

• MUFG Securities EMEA plc boosted its Allstate stake by 405.9% in the fourth quarter, ending with 25,520 shares valued at about $5.3 million.
• Allstate reported strong quarterly results, with EPS of $10.65 and revenue of $16.94 billion, both beating analyst estimates. Revenue also rose 3.0% year over year.
• Analysts remain generally constructive on the stock, with a Moderate Buy consensus and an average price target of $241.67, though recent insider selling and $870 million in estimated April catastrophe losses may weigh on sentiment.

MUFG Securities EMEA plc raised its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 405.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,520 shares of the insurance provider's stock after buying an additional 20,476 shares during the quarter. MUFG Securities EMEA plc's holdings in Allstate were worth $5,312,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Dorato Capital Management purchased a new stake in shares of Allstate during the fourth quarter valued at about $27,000. Navalign LLC purchased a new stake in shares of Allstate during the fourth quarter valued at about $27,000. Princeton Global Asset Management LLC lifted its position in shares of Allstate by 101.3% during the fourth quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider's stock valued at $31,000 after buying an additional 76 shares during the last quarter. Palisade Asset Management LLC purchased a new stake in shares of Allstate during the third quarter valued at about $31,000. Finally, South Plains Financial Inc. lifted its position in shares of Allstate by 41.5% during the third quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider's stock valued at $36,000 after buying an additional 49 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

More Allstate News

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Allstate remains fundamentally strong after its latest quarter, with earnings per share and revenue both beating expectations, which supports the bull case for the stock. Insider Selling: Allstate NYSE: ALL Insider Sells 1,550 Shares of Stock
• Positive Sentiment: Several analyst and research notes continue to frame Allstate as undervalued or fairly attractive, and the stock still carries a moderate buy consensus with a higher average price target. Allstate (ALL) Down 4.6% Since Last Earnings Report: Can It Rebound?
• Neutral Sentiment: Allstate announced estimated April catastrophe losses of $870 million pre-tax, which is a reminder that weather-related claims can create earnings volatility and may temper sentiment near term. Is Allstate (ALL) the Most Undervalued Stock to Invest In?
• Neutral Sentiment: A consumer-focused article highlighting car insurance for road trips is not a direct company-specific catalyst, but it keeps attention on auto insurance demand and the broader insurance category. Driving instead of flying? Here's the best car insurance for road trips
• Negative Sentiment: One insider sold 1,550 shares, and while the sale was small relative to the company, insider selling can weigh on short-term sentiment. Insider Selling: Allstate NYSE: ALL Insider Sells 1,550 Shares of Stock

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Raymond James Financial reissued a "strong-buy" rating and set a $260.00 price target on shares of Allstate in a research report on Tuesday, March 3rd. Piper Sandler reissued an "overweight" rating on shares of Allstate in a research report on Thursday. Citigroup increased their price target on shares of Allstate from $221.00 to $226.00 and gave the company a "neutral" rating in a research report on Friday, May 1st. Wall Street Zen lowered shares of Allstate from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Finally, Mizuho cut their price objective on shares of Allstate from $281.00 to $265.00 and set an "outperform" rating on the stock in a report on Friday, March 20th. 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $241.67.

Insider Buying and Selling

In related news, insider Mark Q. Prindiville sold 1,550 shares of the company's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the sale, the insider owned 27,558 shares in the company, valued at $5,959,968.66. This represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Mario Rizzo sold 18,578 shares of the company's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $218.80, for a total value of $4,064,866.40. Following the completion of the sale, the chief operating officer owned 82,227 shares in the company, valued at approximately $17,991,267.60. This represents a 18.43% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.55% of the stock is owned by corporate insiders.

Allstate Stock Performance

ALL opened at $206.51 on Monday. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $227.62. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The company has a market cap of $53.16 billion, a P/E ratio of 4.56, a price-to-earnings-growth ratio of 0.37 and a beta of 0.19. The firm's 50-day moving average price is $212.70 and its 200-day moving average price is $208.59.

Allstate (NYSE:ALL - Get Free Report) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, beating analysts' consensus estimates of $7.31 by $3.34. The firm had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.Allstate's revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.53 earnings per share. As a group, equities analysts anticipate that The Allstate Corporation will post 29.11 EPS for the current fiscal year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a $1.08 dividend. The ex-dividend date is Monday, June 1st. This represents a $4.32 dividend on an annualized basis and a yield of 2.1%. Allstate's dividend payout ratio is currently 9.53%.

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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