The Allstate Corporation $ALL Shares Purchased by Interval Partners LP

Key Points

• Interval Partners LP boosted its Allstate stake by 292.5% in the fourth quarter, buying 95,569 additional shares and bringing its total holdings to 128,243 shares worth about $26.7 million.
• Analysts are mixed on Allstate: the stock currently carries a Moderate Buy consensus, with a consensus target price of $240.33, though several firms recently cut ratings or lowered price targets.
• Allstate reported strong quarterly results, beating earnings and revenue estimates, and also declared a quarterly dividend of $1.08 per share payable on July 1.

Interval Partners LP lifted its position in The Allstate Corporation (NYSE:ALL - Free Report) by 292.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 128,243 shares of the insurance provider's stock after purchasing an additional 95,569 shares during the quarter. Interval Partners LP's holdings in Allstate were worth $26,694,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Dorato Capital Management acquired a new stake in Allstate during the 4th quarter worth approximately $27,000. Navalign LLC acquired a new stake in Allstate during the 4th quarter worth approximately $27,000. Palisade Asset Management LLC acquired a new stake in Allstate during the 3rd quarter worth approximately $31,000. Princeton Global Asset Management LLC lifted its position 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 during the period. Finally, Cornerstone Financial Management LLC acquired a new stake in Allstate during the 4th quarter worth approximately $32,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on ALL shares. Zacks Research cut Allstate from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 7th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $260.00 price objective on shares of Allstate in a research report on Tuesday, March 3rd. Keefe, Bruyette & Woods cut Allstate from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from $266.00 to $242.00 in a research report on Monday, June 8th. Piper Sandler reaffirmed an "overweight" rating on shares of Allstate in a research report on Thursday, May 28th. Finally, Citigroup increased their price objective on Allstate from $221.00 to $226.00 and gave the stock a "neutral" rating in a research report on Friday, May 1st. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $240.33.

Insider Activity

In other news, insider Mark Q. Prindiville sold 1,550 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the sale, the insider directly owned 27,558 shares of the company's stock, valued at $5,959,968.66. This trade represents a 5.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Mario Rizzo sold 18,578 shares of Allstate stock in a transaction on Friday, May 1st. The stock was sold at an average price of $218.80, for a total value of $4,064,866.40. Following the transaction, the chief operating officer directly owned 82,227 shares of the company's stock, valued at approximately $17,991,267.60. This represents a 18.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 22,353 shares of company stock valued at $4,851,560 in the last three months. 1.55% of the stock is currently owned by company insiders.

Allstate Stock Down 0.5%

ALL opened at $221.94 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36. The business has a 50 day simple moving average of $215.57 and a 200-day simple moving average of $209.10. The stock has a market capitalization of $57.13 billion, a P/E ratio of 4.90, a P/E/G ratio of 0.40 and a beta of 0.18. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $227.62.

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, beating the consensus estimate of $7.31 by $3.34. The business had revenue of $16.94 billion during the quarter, compared to analysts' expectations of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company's quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm earned $3.53 EPS. On average, equities analysts anticipate that The Allstate Corporation will post 29.43 earnings per share for the current fiscal year.

Allstate Dividend Announcement

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