Saudi Central Bank Purchases 8,417 Shares of The Allstate Corporation $ALL

Saudi Central Bank grew its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 87.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 18,076 shares of the insurance provider's stock after acquiring an additional 8,417 shares during the quarter. Saudi Central Bank's holdings in Allstate were worth $4,301,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Advisors Inc. OK raised its stake in Allstate by 2.6% during the second quarter. Capital Advisors Inc. OK now owns 1,827 shares of the insurance provider's stock valued at $435,000 after purchasing an additional 46 shares in the last quarter. Coldstream Capital Management Inc. grew its stake in shares of Allstate by 0.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider's stock worth $1,625,000 after buying an additional 50 shares in the last quarter. Natural Investments LLC grew its stake in shares of Allstate by 1.5% in the 2nd quarter. Natural Investments LLC now owns 3,327 shares of the insurance provider's stock worth $791,000 after buying an additional 50 shares in the last quarter. Compound Planning Inc. increased its holdings in shares of Allstate by 1.6% in the 4th quarter. Compound Planning Inc. now owns 3,216 shares of the insurance provider's stock worth $669,000 after buying an additional 50 shares during the last quarter. Finally, Cullen Frost Bankers Inc. increased its holdings in shares of Allstate by 0.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider's stock worth $1,210,000 after buying an additional 52 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, COO Mario Rizzo sold 56,225 shares of Allstate stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the completion of the sale, the chief operating officer owned 82,227 shares of the company's stock, valued at approximately $21,747,396.96. The trade was a 40.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John 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 $3,515,833.82. The trade was a 71.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.55% of the company's stock.

Key Allstate News

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Allstate is included among insurers using artificial intelligence, data and technology to improve operating efficiency, underwriting and growth, which could support long-term margins and competitiveness. 3 Insurers to Add to Portfolio as AI Transforms Insurance Operations
• Positive Sentiment: A review of Allstate’s financial strength and earnings outlook suggests the company may merit renewed investor consideration, reinforcing the case for its profitability and balance-sheet position. Affirmed Financial Strength And Earnings Outlook Might Change The Case For Investing In Allstate
• Positive Sentiment: Allstate is highlighted as a value-oriented property-and-casualty insurer with premium growth, underwriting discipline and investment-portfolio gains. 3 P&C Insurers to Add for Better Returns in Sluggish September
• Positive Sentiment: Allstate is listed among low-beta, dividend-paying stocks that could offer defensive characteristics during September volatility, with improving earnings estimates cited as a supporting factor. Buy 5 Stocks to Stay Safe in Wall Street's Historically Worst Month
• Neutral Sentiment: Comparisons with Tokio Marine focus on relative valuation and value-investing characteristics rather than a new company-specific catalyst. ALL or TKOMY: Which Is the Better Value Stock Right Now?
• Neutral Sentiment: An Allstate driving-safety report ranking for Wichita provides local auto-insurance context but does not materially change the company’s financial outlook. How bad or good are Wichita drivers? See how the city ranks in Allstate report
• Negative Sentiment: Allstate shares have declined since the latest earnings report, prompting questions about whether the stock can rebound despite the company’s stronger-than-expected results. Allstate Down 4.4% Since Last Earnings Report: Can It Rebound?
• Negative Sentiment: A report that Tyler Perry paid an 81-year-old woman’s $18,000 repair bill after Allstate denied her claim could create reputational risk and renewed scrutiny of claims-handling practices, although it appears to be an isolated customer dispute. Tyler Perry pays 81-year-old woman's $18K repair bill after Allstate denies claim

Allstate Stock Down 0.1%

Shares of ALL opened at $259.43 on Monday. The firm has a market capitalization of $65.60 billion, a P/E ratio of 5.18, a P/E/G ratio of 0.58 and a beta of 0.15. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $277.22. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24. The firm has a fifty day moving average price of $256.91 and a 200-day moving average price of $228.91.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, topping the consensus estimate of $6.06 by $2.93. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The company had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $15.46 billion. During the same quarter last year, the firm posted $5.94 EPS. The firm's revenue was up 11.8% compared to the same quarter last year. Equities research analysts expect that The Allstate Corporation will post 35.5 earnings per share for the current year.

Allstate Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Morgan Stanley set a $265.00 price target on shares of Allstate in a report on Tuesday, August 11th. Keefe, Bruyette & Woods reissued an "underperform" rating and set a $250.00 price objective (down from $255.00) on shares of Allstate in a research note on Thursday, August 20th. JPMorgan Chase & Co. upped their price objective on Allstate from $282.00 to $292.00 and gave the company an "overweight" rating in a research report on Tuesday, August 11th. Wells Fargo & Company lowered Allstate from an "equal weight" rating to an "underweight" rating and raised their price objective for the company from $243.00 to $250.00 in a research note on Friday, August 7th. Finally, UBS Group lifted their target price on Allstate from $261.00 to $275.00 and gave the stock a "neutral" rating in a report on Monday, August 10th. Four equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, Allstate has a consensus rating of "Hold" and a consensus price target of $263.90.

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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