Strategic Global Advisors LLC Increases Stake in The Allstate Corporation $ALL

Key Points

• Strategic Global Advisors LLC boosted its Allstate stake by 19.2% in the fourth quarter, buying 7,870 shares and bringing its total holdings to 48,882 shares worth about $10.2 million.
• Allstate’s recent earnings beat expectations, reporting $10.65 EPS versus the $7.31 consensus, alongside revenue of $16.94 billion, up 3% year over year.
• Insider selling and analyst sentiment were mixed: executives sold shares in recent months, while Wall Street currently rates Allstate a “Moderate Buy” with an average price target of $240.33.

Strategic Global Advisors LLC raised its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 19.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,882 shares of the insurance provider's stock after buying an additional 7,870 shares during the period. Allstate comprises 1.6% of Strategic Global Advisors LLC's portfolio, making the stock its 14th largest holding. Strategic Global Advisors LLC's holdings in Allstate were worth $10,175,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. South Plains Financial Inc. increased its holdings in 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. Coldstream Capital Management Inc. increased its holdings in 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 last quarter. Humankind Investments LLC increased its holdings in 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 last quarter. Cullen Frost Bankers Inc. increased its holdings in 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 last quarter. Finally, Montag A & Associates Inc. increased its holdings in Allstate by 10.2% during the fourth quarter. Montag A & Associates Inc. now owns 596 shares of the insurance provider's stock valued at $125,000 after buying an additional 55 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Allstate

In other Allstate news, COO Mario Rizzo sold 18,578 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the transaction, the chief operating officer owned 82,227 shares in the company, valued at $17,991,267.60. This trade represents a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andrea Redmond sold 2,225 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the transaction, the director owned 2,225 shares of the company's stock, valued at $451,474.75. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 22,353 shares of company stock worth $4,851,560 over the last 90 days. 1.55% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on ALL shares. Piper Sandler reissued an "overweight" rating on shares of Allstate in a research note on Thursday, May 28th. Barclays increased their price objective on shares of Allstate from $207.00 to $208.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 8th. Citigroup increased their price objective on shares of Allstate from $221.00 to $226.00 and gave the stock a "neutral" rating in a research note on Friday, May 1st. The Goldman Sachs Group reissued a "neutral" rating and issued a $231.00 price objective on shares of Allstate in a research note on Thursday, March 5th. Finally, Mizuho reduced their price objective on shares of Allstate from $281.00 to $265.00 and set an "outperform" rating for the company in a research note on Friday, March 20th. Three analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Allstate presently has a consensus rating of "Moderate Buy" and an average target price of $240.33.

Allstate Price Performance

Shares of NYSE:ALL opened at $221.58 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a fifty day moving average price of $214.68 and a 200 day moving average price of $208.92. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $227.62. The firm has a market cap of $57.04 billion, a price-to-earnings ratio of 4.89, a P/E/G ratio of 0.40 and a beta of 0.19.

Allstate (NYSE:ALL - Get Free Report) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping analysts' consensus estimates of $7.31 by $3.34. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The firm had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same quarter in the prior year, the business earned $3.53 earnings per share. Allstate's revenue for the quarter was up 3.0% on a year-over-year basis. As a group, sell-side analysts expect that The Allstate Corporation will post 29.43 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a dividend of $1.08 per share. The ex-dividend date is Monday, June 1st. This represents a $4.32 annualized dividend and a yield of 1.9%. Allstate's dividend payout ratio (DPR) is 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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