National Pension Service Trims Position in The Allstate Corporation $ALL

Key Points

• National Pension Service cut its stake in Allstate by 51.8% in the fourth quarter, selling 485,530 shares and leaving it with 451,562 shares worth about $94 million.
• Allstate reported a strong quarterly beat, with earnings of $10.65 per share versus $7.31 expected and revenue of $16.94 billion versus $15.24 billion expected. The company also posted a year-over-year revenue increase of 3.0%.
• Allstate announced a quarterly dividend of $1.08 per share, payable July 1, for an annualized yield of about 2.1%. Meanwhile, analysts maintain a Moderate Buy consensus with an average price target of $241.67.

National Pension Service cut its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 51.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 451,562 shares of the insurance provider's stock after selling 485,530 shares during the period. National Pension Service owned 0.17% of Allstate worth $93,993,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. South Plains Financial Inc. increased its stake 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 period. Coldstream Capital Management Inc. increased its stake 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 valued at $1,625,000 after buying an additional 50 shares during the period. Humankind Investments LLC increased its stake in shares of Allstate by 4.5% during the third quarter. Humankind Investments LLC now owns 1,191 shares of the insurance provider's stock valued at $256,000 after buying an additional 51 shares during the period. Cullen Frost Bankers Inc. increased its stake in shares of Allstate by 0.9% during the fourth quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider's stock valued at $1,210,000 after buying an additional 52 shares during the period. Finally, Howard Capital Management Inc. increased its stake in shares of Allstate by 3.2% during the third quarter. Howard Capital Management Inc. now owns 1,739 shares of the insurance provider's stock valued at $373,000 after buying an additional 54 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Trading Down 0.4%

Allstate stock opened at $206.51 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 business's fifty day simple moving average is $212.70 and its two-hundred day simple moving average is $208.55. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $227.62. The company has a market capitalization of $53.16 billion, a price-to-earnings ratio of 4.56, a price-to-earnings-growth ratio of 0.37 and a beta of 0.21.

Allstate (NYSE:ALL - Get Free Report) last released its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping the consensus estimate of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The business had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the previous year, the company posted $3.53 earnings per share. The company's revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities analysts predict that The Allstate Corporation will post 29.11 earnings per share for the current fiscal year.

Allstate Dividend Announcement

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

Key Headlines Impacting Allstate

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

Insider Buying and Selling at Allstate

In other Allstate news, COO Mario Rizzo sold 18,578 shares of the business's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $218.80, for a total value of $4,064,866.40. Following the sale, the chief operating officer directly owned 82,227 shares of the company's stock, valued at approximately $17,991,267.60. The trade was a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark Q. Prindiville sold 1,550 shares of the business's stock in a transaction 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 completion of the sale, the insider directly owned 27,558 shares in the company, valued at $5,959,968.66. This trade represents a 5.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ALL. Barclays upped their price target on Allstate from $207.00 to $208.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 8th. JPMorgan Chase & Co. upped their price target on Allstate from $260.00 to $263.00 and gave the stock an "overweight" rating in a research note on Thursday, February 5th. Piper Sandler reaffirmed an "overweight" rating on shares of Allstate in a research note on Thursday. Keefe, Bruyette & Woods upped their price target on Allstate from $260.00 to $266.00 and gave the stock an "outperform" rating in a research note on Thursday, May 7th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $220.00 price target on shares of Allstate in a research note on Thursday, February 5th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $241.67.

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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