Tiemann Investment Advisors LLC Buys Shares of 7,270 The Allstate Corporation $ALL

Key Points

• Tiemann Investment Advisors initiated a position in Allstate by purchasing 7,270 shares valued at approximately $1.73 million. Institutional investors collectively own 76.47% of the insurer’s stock.
• Allstate reported quarterly earnings of $8.99 per share, beating estimates of $6.06, while revenue rose 11.8% year over year to $15.43 billion.
• Analysts maintain a consensus “Hold” rating with an average price target of $265.53. Allstate also declared a quarterly dividend of $1.08 per share, representing a 1.7% yield.

Tiemann Investment Advisors LLC purchased a new stake in The Allstate Corporation (NYSE:ALL - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 7,270 shares of the insurance provider's stock, valued at approximately $1,730,000.

Other institutional investors also recently modified their holdings of the company. MV Capital Management Inc. bought a new stake in shares of Allstate during the 4th quarter worth $25,000. Navalign LLC bought a new position in Allstate in the fourth quarter valued at about $27,000. Kelleher Financial Advisors bought a new position in Allstate in the second quarter valued at about $28,000. Evolution Wealth Management Inc. raised its stake in Allstate by 7,000.0% during the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider's stock worth $29,000 after acquiring an additional 140 shares in the last quarter. Finally, Allied Private Wealth LLC acquired a new position in Allstate during the second quarter worth about $29,000. Institutional investors and hedge funds own 76.47% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Allstate from $282.00 to $292.00 and gave the company an "overweight" rating in a research note on Tuesday, August 11th. Mizuho upped their price objective on shares of Allstate from $255.00 to $272.00 and gave the stock an "outperform" rating in a research report on Thursday, July 9th. Citigroup downgraded shares of Allstate from a "neutral" rating to a "sell" rating and increased their price objective for the company from $226.00 to $240.00 in a research note on Tuesday, August 11th. Barclays raised their target price on shares of Allstate from $213.00 to $226.00 and gave the company an "underweight" rating in a research report on Thursday, August 6th. Finally, Atlantic Securities set a $319.00 target price on shares of Allstate in a research note on Wednesday, July 15th. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Allstate currently has a consensus rating of "Hold" and an average price target of $265.53.

Allstate Price Performance

Allstate stock opened at $257.88 on Tuesday. The stock has a 50-day moving average price of $247.38 and a two-hundred day moving average price of $223.47. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $277.22. The company has a market capitalization of $65.21 billion, a PE ratio of 5.15, a P/E/G ratio of 0.41 and a beta of 0.16. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, topping the consensus estimate of $6.06 by $2.93. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The company had revenue of $15.43 billion for the quarter, compared to analysts' expectations of $15.46 billion. During the same period in the previous year, the business posted $5.94 earnings per share. The business's quarterly revenue was up 11.8% compared to the same quarter last year. Analysts expect that The Allstate Corporation will post 33.92 EPS for the current year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be given a dividend of $1.08 per share. The ex-dividend date is Monday, August 31st. This represents a $4.32 annualized dividend and a yield of 1.7%. Allstate's dividend payout ratio (DPR) is currently 8.63%.

Insider Buying and Selling at Allstate

In other Allstate news, COO Mario Rizzo sold 56,225 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total value of $14,870,388.00. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $21,747,396.96. This represents a 40.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark Q. Prindiville sold 1,550 shares of the firm's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the transaction, the insider directly owned 27,558 shares of the company's stock, valued at $5,959,968.66. The trade was a 5.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 92,996 shares of company stock valued at $24,543,894. 1.55% of the stock is owned by insiders.

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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