The Allstate Corporation $ALL Shares Acquired by Fieldview Capital Management LLC

Key Points

• Fieldview Capital Management increased its Allstate stake by 66.7% in the fourth quarter, buying 7,582 additional shares and bringing its total holding to 18,953 shares worth about $3.95 million.
• Allstate’s latest quarterly results beat expectations, with EPS of $10.65 versus the $7.31 consensus and revenue of $16.94 billion, up 3% year over year.
• The company also announced a quarterly dividend of $1.08 per share, equal to an annualized yield of about 1.9%, while analysts currently rate the stock a Moderate Buy with an average price target of $240.33.

Fieldview Capital Management LLC lifted its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 66.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,953 shares of the insurance provider's stock after acquiring an additional 7,582 shares during the quarter. Fieldview Capital Management LLC's holdings in Allstate were worth $3,945,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Navalign LLC acquired a new position in Allstate in the 4th quarter worth $27,000. Dorato Capital Management acquired a new position in Allstate in the 4th quarter worth $27,000. Palisade Asset Management LLC acquired a new position in Allstate in the 3rd quarter worth $31,000. Princeton Global Asset Management LLC lifted its holdings in Allstate by 101.3% in the 4th quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider's stock worth $31,000 after buying an additional 76 shares in the last quarter. Finally, Cornerstone Financial Management LLC acquired a new position in Allstate in the 4th quarter worth $32,000. Institutional investors and hedge funds own 76.47% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ALL shares. Barclays boosted their price objective on shares of 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 reissued a "neutral" rating and issued a $231.00 target price on shares of Allstate in a research report on Thursday, March 5th. Mizuho dropped their target price on shares of Allstate from $281.00 to $265.00 and set an "outperform" rating for the company in a research report on Friday, March 20th. Citigroup boosted their target price on shares of Allstate from $221.00 to $226.00 and gave the stock a "neutral" rating in a research report on Friday, May 1st. Finally, Piper Sandler reissued an "overweight" rating on shares of Allstate in a research report on Thursday, May 28th. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $240.33.

Insider Activity at Allstate

In other Allstate news, Director Andrea Redmond sold 2,225 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the transaction, the director owned 2,225 shares in the company, valued at approximately $451,474.75. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Q. Prindiville sold 1,550 shares of the company's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the transaction, the insider owned 27,558 shares of the company's stock, valued at approximately $5,959,968.66. This trade represents a 5.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 22,353 shares of company stock valued at $4,851,560 in the last quarter. Insiders own 1.55% of the company's stock.

Allstate Price Performance

ALL opened at $221.58 on Friday. 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 Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $227.62. The company has a 50-day moving average of $214.68 and a 200-day moving average of $208.94. The company has a market capitalization of $57.04 billion, a P/E ratio of 4.89, a PEG ratio of 0.40 and a beta of 0.18.

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

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, June 1st. Allstate's dividend payout ratio is currently 9.53%.

Allstate 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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