The Allstate Corporation $ALL Shares Purchased by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. boosted its Allstate stake by 13.8% in the fourth quarter, adding 6,528 shares to bring its total to 53,693 shares worth about $11.2 million.
• Allstate reported strong quarterly results, with earnings of $10.65 per share and revenue of $16.94 billion, both well above analyst expectations. Revenue rose 3.0% year over year, and the company posted a high return on equity of 42.66%.
• The company declared a quarterly dividend of $1.08 per share, payable July 1, representing a 2.1% annualized yield. Meanwhile, analysts remain mixed overall, with a consensus rating of Moderate Buy and an average price target of $241.67.

Northwestern Mutual Wealth Management Co. increased its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 13.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 53,693 shares of the insurance provider's stock after purchasing an additional 6,528 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Allstate were worth $11,176,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ALL. Robeco Institutional Asset Management B.V. increased its position in Allstate by 1,766.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 869,139 shares of the insurance provider's stock worth $180,911,000 after purchasing an additional 822,583 shares in the last quarter. Woodline Partners LP acquired a new stake in Allstate during the 3rd quarter worth approximately $148,641,000. AustralianSuper Pty Ltd grew its position in Allstate by 80.6% in the fourth quarter. AustralianSuper Pty Ltd now owns 1,220,984 shares of the insurance provider's stock valued at $254,148,000 after acquiring an additional 544,874 shares in the last quarter. LSV Asset Management grew its position in Allstate by 542.3% in the fourth quarter. LSV Asset Management now owns 631,005 shares of the insurance provider's stock valued at $131,344,000 after acquiring an additional 532,770 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in Allstate by 52.7% in the second quarter. Ameriprise Financial Inc. now owns 1,385,901 shares of the insurance provider's stock valued at $279,062,000 after acquiring an additional 478,598 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Stock Performance

Allstate stock opened at $207.50 on Tuesday. The stock has a market cap of $53.41 billion, a P/E ratio of 4.58, a price-to-earnings-growth ratio of 0.37 and a beta of 0.21. 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 stock has a 50 day moving average of $212.78 and a 200-day moving average of $208.59. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $227.62.

Allstate (NYSE:ALL - Get Free Report) last released its 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 company 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 business's revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.53 EPS. On average, analysts expect that The Allstate Corporation will post 29.11 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid 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 2.1%. Allstate's dividend payout ratio (DPR) is 9.53%.

Analysts Set New Price Targets

Several brokerages have issued reports on ALL. Zacks Research downgraded shares of Allstate from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 7th. Piper Sandler reaffirmed an "overweight" rating on shares of Allstate in a research report on Thursday. Barclays increased their price objective on shares of Allstate from $207.00 to $208.00 and gave the company an "underweight" rating in a research report on Wednesday, April 8th. Keefe, Bruyette & Woods increased their price objective on shares of Allstate from $260.00 to $266.00 and gave the company an "outperform" rating in a research report on Thursday, May 7th. Finally, Wall Street Zen downgraded shares of Allstate from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Allstate has an average rating of "Moderate Buy" and an average price target of $241.67.

Insider Buying and Selling at Allstate

In related news, COO Mario Rizzo sold 18,578 shares of the firm's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the transaction, the chief operating officer directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark Q. Prindiville sold 1,550 shares of the firm's stock in a transaction 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 transaction, the insider owned 27,558 shares in the company, valued at $5,959,968.66. This trade represents a 5.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.55% of the company's stock.

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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