AustralianSuper Pty Ltd Purchases 174,496 Shares of The Allstate Corporation $ALL

AustralianSuper Pty Ltd lifted its position in shares of The Allstate Corporation (NYSE:ALL) by 34.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 676,110 shares of the insurance provider’s stock after buying an additional 174,496 shares during the period. Allstate comprises 0.7% of AustralianSuper Pty Ltd’s investment portfolio, making the stock its 29th largest position. AustralianSuper Pty Ltd’s holdings in Allstate were worth $145,127,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Allstate by 1.3% during the second quarter. Vanguard Group Inc. now owns 33,235,231 shares of the insurance provider’s stock worth $6,690,584,000 after acquiring an additional 435,145 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Allstate by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 6,714,629 shares of the insurance provider’s stock valued at $1,345,961,000 after purchasing an additional 79,366 shares during the last quarter. Franklin Resources Inc. raised its position in Allstate by 2.5% in the 2nd quarter. Franklin Resources Inc. now owns 4,670,113 shares of the insurance provider’s stock worth $940,140,000 after purchasing an additional 112,858 shares during the period. Raymond James Financial Inc. lifted its stake in Allstate by 3.3% in the second quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider’s stock worth $562,388,000 after purchasing an additional 88,620 shares during the last quarter. Finally, Boston Partners boosted its position in Allstate by 7.0% during the second quarter. Boston Partners now owns 2,655,585 shares of the insurance provider’s stock valued at $535,078,000 after buying an additional 172,931 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

ALL has been the topic of several analyst reports. Zacks Research downgraded Allstate from a “strong-buy” rating to a “hold” rating in a report on Friday, December 19th. Mizuho set a $255.00 price target on Allstate in a research note on Wednesday, January 14th. Wells Fargo & Company lifted their target price on shares of Allstate from $216.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 13th. TD Cowen cut shares of Allstate from a “buy” rating to a “hold” rating in a research report on Monday, January 12th. Finally, Wall Street Zen cut shares of Allstate from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $236.19.

Allstate Price Performance

ALL stock opened at $197.50 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.43 and a quick ratio of 0.43. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $215.89. The firm has a 50-day moving average of $205.15 and a 200 day moving average of $203.36. The company has a market cap of $51.68 billion, a P/E ratio of 6.39, a PEG ratio of 0.42 and a beta of 0.24.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share for the quarter, topping analysts’ consensus estimates of $5.48 by $5.69. The firm had revenue of $17.26 billion for the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a return on equity of 35.42% and a net margin of 12.53%.The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.91 EPS. On average, sell-side analysts forecast that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $4.00 annualized dividend and a yield of 2.0%. Allstate’s dividend payout ratio (DPR) is currently 12.95%.

Insider Activity at Allstate

In other news, insider Suren Gupta sold 19,593 shares of the business’s stock in a transaction on 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 sale, the insider owned 100,646 shares in the company, valued at approximately $21,135,660. The trade was a 16.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders have sold 48,400 shares of company stock worth $10,313,256. Insiders own 1.70% 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.