The Allstate Corporation $ALL Shares Sold by IFG Advisory LLC

Key Points

• IFG Advisory LLC cut its Allstate stake by 48.6% in the fourth quarter, leaving it with 7,096 shares worth about $1.48 million.
• Allstate’s latest quarterly results beat expectations, with EPS of $10.65 versus the $7.31 estimate and revenue of $16.94 billion topping forecasts.
• The company announced a $1.08 quarterly dividend payable July 1, and analysts currently rate the stock a Moderate Buy with a consensus price target of $241.67.

IFG Advisory LLC trimmed its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 48.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,096 shares of the insurance provider's stock after selling 6,702 shares during the quarter. IFG Advisory LLC's holdings in Allstate were worth $1,477,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dorato Capital Management bought a new position in Allstate in the 4th quarter worth approximately $27,000. Navalign LLC bought a new position in Allstate in the 4th quarter worth approximately $27,000. Princeton Global Asset Management LLC grew 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. Palisade Asset Management LLC bought a new position in Allstate in the 3rd quarter worth approximately $31,000. Finally, South Plains Financial Inc. grew its holdings in Allstate by 41.5% in the 3rd quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider's stock worth $36,000 after buying an additional 49 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

Allstate Stock Performance

Shares of NYSE ALL opened at $206.51 on Friday. The stock has a fifty day moving average price of $212.70 and a two-hundred day moving average price of $208.55. 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 firm has a market cap of $53.16 billion, a P/E ratio of 4.56, a PEG ratio of 0.37 and a beta of 0.21. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $227.62.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.31 by $3.34. The firm had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The firm's quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the company posted $3.53 EPS. Research analysts forecast that The Allstate Corporation will post 29.11 EPS for the current fiscal year.

Allstate Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Monday, June 1st. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.1%. Allstate's dividend payout ratio is presently 9.53%.

Allstate News Roundup

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Allstate remains fundamentally strong after its latest quarter, with earnings per share and revenue both beating expectations, which supports the bull case for the stock. Insider Selling: Allstate NYSE: ALL Insider Sells 1,550 Shares of Stock
• Positive Sentiment: Several analyst and research notes continue to frame Allstate as undervalued or fairly attractive, and the stock still carries a moderate buy consensus with a higher average price target. Allstate (ALL) Down 4.6% Since Last Earnings Report: Can It Rebound?
• Neutral Sentiment: Allstate announced estimated April catastrophe losses of $870 million pre-tax, which is a reminder that weather-related claims can create earnings volatility and may temper sentiment near term. Is Allstate (ALL) the Most Undervalued Stock to Invest In?
• Neutral Sentiment: A consumer-focused article highlighting car insurance for road trips is not a direct company-specific catalyst, but it keeps attention on auto insurance demand and the broader insurance category. Driving instead of flying? Here's the best car insurance for road trips
• Negative Sentiment: One insider sold 1,550 shares, and while the sale was small relative to the company, insider selling can weigh on short-term sentiment. Insider Selling: Allstate NYSE: ALL Insider Sells 1,550 Shares of Stock

Insiders Place Their Bets

In other news, insider Mark Q. Prindiville sold 1,550 shares of the 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 completion of the sale, the insider owned 27,558 shares in the company, valued at $5,959,968.66. This represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Mario Rizzo sold 18,578 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total value of $4,064,866.40. Following the completion of the sale, the chief operating officer owned 82,227 shares of the company's stock, valued at $17,991,267.60. The trade was a 18.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.55% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ALL. The Goldman Sachs Group reissued a "neutral" rating and issued a $231.00 price objective on shares of Allstate in a report on Thursday, March 5th. Mizuho decreased their price objective on Allstate from $281.00 to $265.00 and set an "outperform" rating for the company in a report on Friday, March 20th. Cantor Fitzgerald reissued a "neutral" rating and issued a $220.00 price objective on shares of Allstate in a report on Thursday, February 5th. Raymond James Financial reissued a "strong-buy" rating and issued a $260.00 price objective on shares of Allstate in a report on Tuesday, March 3rd. Finally, Wells Fargo & Company increased their price objective on Allstate from $229.00 to $243.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 6th. Three equities research 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $241.67.

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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