Plato Investment Management Ltd Buys Shares of 5,669 The Allstate Corporation $ALL

Key Points

• Plato Investment Management acquired 5,669 Allstate shares worth approximately $1.34 million during the second quarter. Institutional investors collectively own 76.47% of Allstate’s outstanding stock.
• Analysts maintain a consensus “Hold” rating on Allstate, with an average price target of $265.53. Recent targets ranged from $226 to $319.
• Allstate reported quarterly earnings of $8.99 per share, well above the $6.06 consensus estimate, while revenue reached $15.43 billion. The company also declared a quarterly dividend of $1.08 per share, representing a 1.7% yield.

Plato Investment Management Ltd purchased a new position in The Allstate Corporation (NYSE:ALL - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,669 shares of the insurance provider's stock, valued at approximately $1,341,000.

Several other large investors have also recently made changes to their positions in ALL. Bell Investment Advisors Inc acquired a new stake in Allstate during the 2nd quarter worth $68,000. AMG National Trust Bank purchased a new position in shares of Allstate in the second quarter worth about $2,060,000. Simplicity Wealth LLC acquired a new position in Allstate during the second quarter worth about $790,000. Baxter Bros Inc. acquired a new position in Allstate during the second quarter worth about $1,400,000. Finally, Uniting Wealth Partners LLC purchased a new stake in Allstate during the 2nd quarter valued at about $256,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Evercore set a $240.00 price objective on shares of Allstate in a report on Friday, July 10th. HSBC lowered Allstate from a "buy" rating to a "hold" rating and raised their price target for the stock from $244.00 to $264.00 in a research report on Monday, July 6th. Atlantic Securities set a $319.00 price objective on shares of Allstate in a research note on Wednesday, July 15th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $280.00 target price on shares of Allstate in a research note on Friday, August 7th. Finally, Barclays increased their target price on shares of Allstate from $213.00 to $226.00 and gave the stock an "underweight" rating in a report on Thursday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $265.53.

Insider Activity at Allstate

In related news, COO Mario Rizzo sold 56,225 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the transaction, the chief operating officer owned 82,227 shares in the company, valued at $21,747,396.96. This trade represents a 40.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John E. Dugenske sold 32,996 shares of the business's 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 sale, the insider owned 13,054 shares of the company's stock, valued at approximately $3,515,833.82. This represents a 71.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 92,996 shares of company stock worth $24,543,894. Insiders own 1.55% of the company's stock.

Allstate Stock Down 1.4%

Allstate stock opened at $257.88 on Tuesday. The stock's fifty day moving average is $247.38 and its two-hundred day moving average is $223.47. The stock has a market cap of $65.21 billion, a PE ratio of 5.15, a P/E/G ratio of 0.41 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 current ratio of 0.36 and a quick ratio of 0.36.

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 the consensus estimate of $6.06 by $2.93. The business had revenue of $15.43 billion for the quarter, compared to analyst estimates of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The business's quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the company earned $5.94 EPS. On average, sell-side analysts expect that The Allstate Corporation will post 33.92 EPS for the current fiscal year.

Allstate Dividend Announcement

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

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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