The Allstate Corporation $ALL Position Trimmed by Amundi

Key Points

• Amundi cut its Allstate stake by 12.9% in the first quarter, selling 156,155 shares and retaining 1.06 million shares worth approximately $219 million. Institutional investors collectively own 76.47% of Allstate.
• Allstate reported strong quarterly results, with EPS of $10.65 versus the $7.31 consensus and revenue of $16.94 billion, up 3% year over year. Analysts expect full-year EPS of $30.74.
• The company declared a quarterly dividend of $1.08 per share, equal to an annualized $4.32 payout and a 1.6% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $254.80.

Amundi reduced its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 12.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,056,458 shares of the insurance provider's stock after selling 156,155 shares during the quarter. Amundi owned approximately 0.41% of Allstate worth $219,046,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Coldstream Capital Management Inc. lifted its holdings in shares of Allstate by 0.6% during the 4th 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. Compound Planning Inc. increased its holdings in Allstate by 1.6% in the fourth 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. Cullen Frost Bankers Inc. raised its position 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 acquiring an additional 52 shares in the last quarter. Root Financial Partners LLC raised its position in Allstate by 4.7% during the first quarter. Root Financial Partners LLC now owns 1,170 shares of the insurance provider's stock valued at $243,000 after acquiring an additional 53 shares in the last quarter. Finally, L2 Asset Management LLC lifted its stake in Allstate by 4.7% in the third quarter. L2 Asset Management LLC now owns 1,223 shares of the insurance provider's stock valued at $263,000 after acquiring an additional 55 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the sale, the insider owned 27,558 shares in the company, valued at $5,959,968.66. The trade was a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 completion of the transaction, the director owned 2,225 shares of the company's stock, valued at approximately $451,474.75. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.55% of the company's stock.

Allstate Stock Down 3.3%

ALL opened at $265.22 on Friday. The business has a 50 day moving average of $234.98 and a 200-day moving average of $217.73. The stock has a market capitalization of $68.27 billion, a price-to-earnings ratio of 5.85, a P/E/G ratio of 0.47 and a beta of 0.16. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $277.22.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.31 by $3.34. The business had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. Allstate's revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.53 earnings per share. As a group, sell-side analysts anticipate that The Allstate Corporation will post 30.74 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors 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 yield of 1.6%. Allstate's dividend payout ratio (DPR) is 9.53%.

Analyst Upgrades and Downgrades

Several analysts have commented on ALL shares. Cantor Fitzgerald boosted their target price on shares of Allstate from $236.00 to $242.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. increased their target price on shares of Allstate from $263.00 to $282.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 14th. Piper Sandler restated an "overweight" rating on shares of Allstate in a report on Thursday, May 28th. Weiss Ratings reaffirmed a "buy (a-)" rating on shares of Allstate in a research report on Thursday, June 18th. Finally, Citigroup boosted their target price on Allstate from $221.00 to $226.00 and gave the stock a "neutral" rating in a report on Friday, May 1st. Three investment 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 assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $254.80.

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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