The Allstate Corporation $ALL Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. cut its Allstate stake by 7.9% in Q3, selling 47,569 shares and finishing the quarter with 556,176 shares (about 0.21% of Allstate) valued at roughly $119.3 million.
• Allstate beat expectations in the latest quarter with $14.31 EPS versus $8.72 expected and $17.35 billion in revenue, and the company raised its quarterly dividend to $1.08 (a 2.1% yield) payable April 1.
• Analysts' consensus is a Moderate Buy with an average target price of $238.88, while the stock trades around the low-$200s within a one-year range of $176.00–$216.75.

Russell Investments Group Ltd. lowered its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 7.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 556,176 shares of the insurance provider's stock after selling 47,569 shares during the quarter. Russell Investments Group Ltd. owned 0.21% of Allstate worth $119,277,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in ALL. Avantax Advisory Services Inc. increased its position in Allstate by 3.1% during the 2nd quarter. Avantax Advisory Services Inc. now owns 23,573 shares of the insurance provider's stock worth $4,745,000 after purchasing an additional 704 shares during the period. Truist Financial Corp lifted its holdings in shares of Allstate by 4.7% in the 3rd quarter. Truist Financial Corp now owns 123,461 shares of the insurance provider's stock valued at $26,501,000 after buying an additional 5,542 shares during the period. Davis Capital Management purchased a new stake in shares of Allstate in the third quarter valued at approximately $2,767,000. First Horizon Corp acquired a new position in Allstate during the third quarter worth $11,109,000. Finally, Coastal Bridge Advisors LLC grew its holdings in Allstate by 530.6% during the third quarter. Coastal Bridge Advisors LLC now owns 18,174 shares of the insurance provider's stock worth $3,901,000 after acquiring an additional 15,292 shares during the period. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Stock Down 2.3%

ALL opened at $207.53 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market cap of $53.86 billion, a price-to-earnings ratio of 5.43, a PEG ratio of 0.44 and a beta of 0.23. The Allstate Corporation has a one year low of $176.00 and a one year high of $216.75. The business's fifty day moving average is $204.63 and its two-hundred day moving average is $204.64.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, beating analysts' consensus estimates of $8.72 by $5.59. The business had revenue of $17.35 billion during the quarter, compared to analysts' expectations of $17.23 billion. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The business's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted $7.67 earnings per share. Analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be issued a dividend of $1.08 per share. This is an increase from Allstate's previous quarterly dividend of $1.00. The ex-dividend date is Monday, March 2nd. This represents a $4.32 annualized dividend and a yield of 2.1%. Allstate's payout ratio is 11.31%.

Insider Transactions at Allstate

In other Allstate news, insider Suren Gupta sold 19,593 shares of Allstate stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the completion of the transaction, the insider owned 100,646 shares in the company, valued at approximately $21,135,660. The trade was a 16.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. UBS Group raised their target price on Allstate from $250.00 to $255.00 and gave the company a "buy" rating in a report on Monday, November 10th. Morgan Stanley reaffirmed an "equal weight" rating and set a $215.00 price target (down from $245.00) on shares of Allstate in a research note on Tuesday, December 16th. Citigroup increased their price target on shares of Allstate from $216.00 to $221.00 and gave the company a "neutral" rating in a report on Tuesday, February 10th. Weiss Ratings reiterated a "buy (b)" rating on shares of Allstate in a research note on Wednesday, January 21st. Finally, Roth Mkm boosted their price objective on shares of Allstate from $230.00 to $240.00 and gave the stock a "buy" rating in a report on Wednesday, November 26th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $238.88.

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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