Swiss National Bank Raises Holdings in The Allstate Corporation $ALL

Key Points

• Swiss National Bank increased its stake in Allstate by 6.4% in the first quarter, buying 46,200 additional shares and bringing its total holding to 767,900 shares worth about $159.2 million.
• Wall Street remains broadly positive on Allstate, with a consensus rating of “Moderate Buy” and an average price target of $254.80, while several firms recently raised their targets.
• Allstate posted strong quarterly results and announced a dividend, reporting EPS of $10.65 versus estimates of $7.31 and revenue of $16.94 billion, while declaring a quarterly dividend of $1.08 per share to be paid on October 1.

Swiss National Bank grew its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 6.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 767,900 shares of the insurance provider's stock after purchasing an additional 46,200 shares during the period. Swiss National Bank owned approximately 0.30% of Allstate worth $159,216,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. MV Capital Management Inc. purchased a new position in shares of Allstate during the fourth quarter worth $25,000. Dorato Capital Management acquired a new stake in shares of Allstate in the fourth quarter valued at $27,000. Navalign LLC purchased a new stake in shares of Allstate in the 4th quarter valued at $27,000. Evolution Wealth Management Inc. raised its holdings in shares of Allstate by 7,000.0% in the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider's stock valued at $29,000 after buying an additional 140 shares during the period. Finally, Princeton Global Asset Management LLC lifted its stake in Allstate by 101.3% during the 4th quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider's stock worth $31,000 after acquiring an additional 76 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company's stock.

Wall Street Analysts Forecast Growth

ALL has been the subject of a number of research analyst reports. Evercore set a $240.00 target price on Allstate in a report on Friday, July 10th. Keefe, Bruyette & Woods increased their price target on shares of Allstate from $242.00 to $255.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 8th. Raymond James Financial raised their price objective on shares of Allstate from $260.00 to $300.00 and gave the company a "strong-buy" rating in a research note on Monday, July 6th. Piper Sandler restated an "overweight" rating on shares of Allstate in a report on Thursday, May 28th. Finally, JPMorgan Chase & Co. upped their target price on shares of Allstate from $263.00 to $282.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 14th. Three research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $254.80.

Insider Buying and Selling at Allstate

In other news, insider Mark Q. Prindiville sold 1,550 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the transaction, the insider owned 27,558 shares in the company, valued at approximately $5,959,968.66. This represents a 5.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andrea Redmond sold 2,225 shares of the business's stock in a transaction that occurred 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 sale, the director owned 2,225 shares of the company's stock, valued at approximately $451,474.75. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 22,353 shares of company stock worth $4,851,560 over the last ninety days. Corporate insiders own 1.55% of the company's stock.

Allstate Stock Down 0.0%

Shares of NYSE:ALL opened at $249.84 on Monday. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $257.67. The firm's 50 day moving average price is $227.29 and its 200 day moving average price is $214.40. 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 stock has a market cap of $64.31 billion, a price-to-earnings ratio of 5.51, a price-to-earnings-growth ratio of 0.43 and a beta of 0.16.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly 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 net margin of 17.81% and a return on equity of 42.66%. The company had revenue of $16.94 billion during the quarter, compared to analysts' expectations of $15.24 billion. During the same quarter in the previous year, the business posted $3.53 EPS. The firm's revenue was up 3.0% on a year-over-year basis. As a group, equities research analysts predict that The Allstate Corporation will post 30.4 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Monday, August 31st. Allstate's dividend payout ratio is 9.53%.

About Allstate

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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