Sienna Gestion Makes New $957,000 Investment in The Allstate Corporation $ALL

Key Points

• Sienna Gestion opened a new position in Allstate during the fourth quarter, buying 4,598 shares valued at about $957,000.
• Institutional interest in Allstate remains high, with hedge funds and other investors owning 76.47% of the company. Several large firms also increased or initiated stakes recently.
• Allstate reported a strong quarter, beating earnings and revenue estimates, while also announcing a quarterly dividend of $1.08 per share to be paid July 1.

Sienna Gestion purchased a new position in shares of The Allstate Corporation (NYSE:ALL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,598 shares of the insurance provider's stock, valued at approximately $957,000.

A number of other large investors also recently made changes to their positions in ALL. Norges Bank purchased a new position in shares of Allstate during the 4th quarter worth $531,294,000. GQG Partners LLC lifted its stake in shares of Allstate by 36.0% during the 4th quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider's stock worth $1,142,449,000 after purchasing an additional 1,452,993 shares during the period. Franklin Resources Inc. lifted its stake in shares of Allstate by 29.2% during the 4th quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider's stock worth $1,042,321,000 after purchasing an additional 1,131,172 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in shares of Allstate by 1,766.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 869,139 shares of the insurance provider's stock worth $180,911,000 after purchasing an additional 822,583 shares during the period. Finally, Woodline Partners LP purchased a new position in shares of Allstate during the 3rd quarter worth $148,641,000. Hedge funds and other institutional investors own 76.47% of the company's stock.

Insider Activity at Allstate

In related news, Director Andrea Redmond sold 2,225 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the sale, 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the sale, the insider owned 27,558 shares of the company's stock, valued at approximately $5,959,968.66. This represents a 5.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 22,353 shares of company stock worth $4,851,560. Corporate insiders own 1.55% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Barclays upped their price objective on Allstate from $207.00 to $208.00 and gave the stock an "underweight" rating in a report on Wednesday, April 8th. The Goldman Sachs Group restated a "neutral" rating and set a $231.00 price objective on shares of Allstate in a report on Thursday, March 5th. Weiss Ratings upgraded Allstate from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday, March 23rd. Piper Sandler restated an "overweight" rating on shares of Allstate in a report on Thursday, May 28th. Finally, Raymond James Financial restated a "strong-buy" rating and set a $260.00 price objective on shares of Allstate in a report on Tuesday, March 3rd. Three analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $240.33.

Allstate Trading Down 0.0%

ALL stock opened at $221.54 on Tuesday. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $227.62. The company has a market cap of $57.03 billion, a price-to-earnings ratio of 4.89, a PEG ratio of 0.40 and a beta of 0.19. 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 business has a fifty day simple moving average of $214.97 and a 200-day simple moving average of $208.98.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the prior year, the firm earned $3.53 EPS. The firm's quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities research analysts expect that The Allstate Corporation will post 29.43 EPS for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, June 1st. Allstate's dividend payout ratio is currently 9.53%.

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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