Tudor Financial Inc. Grows Holdings in The Allstate Corporation $ALL

Key Points

• Tudor Financial more than doubled its Allstate stake in the second quarter, adding 7,637 shares to own 15,101 shares valued at approximately $3.6 million. Institutional investors collectively own 76.47% of Allstate.
• Analyst sentiment remains mixed: Allstate has an average rating of “Hold” and a consensus price target of $263.90, despite several Strong Buy and Buy ratings.
• Allstate reported quarterly EPS of $8.99, well above the $6.06 consensus estimate, while revenue rose 11.8% year over year to $18.6 billion. The company also declared a quarterly dividend of $1.08, equivalent to a 1.6% annual yield.

Tudor Financial Inc. increased its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 102.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,101 shares of the insurance provider's stock after purchasing an additional 7,637 shares during the period. Allstate accounts for 1.6% of Tudor Financial Inc.'s investment portfolio, making the stock its 12th largest holding. Tudor Financial Inc.'s holdings in Allstate were worth $3,593,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. MV Capital Management Inc. acquired a new stake in shares of Allstate during the fourth quarter worth about $25,000. Gables Capital Management Inc. purchased a new position in shares of Allstate during the second quarter worth about $26,000. Navalign LLC acquired a new position in Allstate in the 4th quarter valued at about $27,000. Kelleher Financial Advisors purchased a new stake in Allstate during the 2nd quarter valued at approximately $28,000. Finally, Evolution Wealth Management Inc. raised its stake in Allstate by 7,000.0% during the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider's stock valued at $29,000 after acquiring an additional 140 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ALL. UBS Group boosted their price target on shares of Allstate from $261.00 to $275.00 and gave the stock a "neutral" rating in a research note on Monday, August 10th. Raymond James Financial restated a "strong-buy" rating and issued a $315.00 price objective on shares of Allstate in a research report on Tuesday, August 11th. Zacks Research raised Allstate from a "hold" rating to a "strong-buy" rating in a report on Monday, August 17th. Cantor Fitzgerald boosted their target price on Allstate from $236.00 to $242.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Finally, Morgan Stanley set a $265.00 price target on Allstate in a report on Tuesday, August 11th. Four equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, Allstate presently has an average rating of "Hold" and an average target price of $263.90.

Insider Buying and Selling

In other Allstate news, insider John E. Dugenske sold 32,996 shares of the company's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $269.33, for a total value of $8,886,812.68. Following the completion of the sale, the insider directly owned 13,054 shares in the company, valued at $3,515,833.82. This represents a 71.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Mario Rizzo sold 56,225 shares of the company's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the completion of the sale, the chief operating officer directly owned 82,227 shares of the company's stock, valued at $21,747,396.96. The trade was a 40.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.55% of the company's stock.

Allstate Price Performance

ALL opened at $263.63 on Friday. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $277.22. The company's 50 day simple moving average is $256.51 and its 200 day simple moving average is $228.55. The stock has a market capitalization of $66.66 billion, a PE ratio of 5.26, a P/E/G ratio of 0.60 and a beta of 0.15. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.06 by $2.93. The firm had revenue of $18.60 billion during the quarter, compared to the consensus estimate of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The firm's quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.94 EPS. As a group, sell-side analysts expect that The Allstate Corporation will post 34.78 EPS for the current year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be issued a $1.08 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 dividend on an annualized basis and a yield of 1.6%. Allstate's dividend payout ratio (DPR) is currently 8.63%.

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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