Financiere des Professionnels Fonds d investissement inc. Buys 15,303 Shares of The Allstate Corporation $ALL

Financiere des Professionnels Fonds d investissement inc. raised its stake in The Allstate Corporation (NYSE:ALL) by 415.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,986 shares of the insurance provider’s stock after acquiring an additional 15,303 shares during the period. Financiere des Professionnels Fonds d investissement inc.’s holdings in Allstate were worth $3,952,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ALL. Dorato Capital Management bought a new stake in Allstate in the 4th quarter valued at $27,000. Navalign LLC bought a new stake in Allstate in the 4th quarter valued at $27,000. Princeton Global Asset Management LLC increased 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 valued at $31,000 after acquiring an additional 76 shares during the last quarter. Palisade Asset Management LLC bought a new stake in Allstate in the 3rd quarter valued at $31,000. Finally, South Plains Financial Inc. increased 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 valued at $36,000 after acquiring an additional 49 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors.

Insider Activity at Allstate

In related news, COO Mario Rizzo sold 18,578 shares of Allstate stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the sale, the chief operating officer owned 82,227 shares in the company, valued at $17,991,267.60. This trade represents a 18.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Andrea Redmond sold 2,225 shares of Allstate stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the sale, the director owned 2,225 shares of the company’s stock, valued at $451,474.75. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 22,353 shares of company stock worth $4,851,560 in the last 90 days. 1.55% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on ALL shares. Keefe, Bruyette & Woods downgraded shares of Allstate from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $266.00 to $242.00 in a report on Monday. Zacks Research downgraded shares of Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Piper Sandler reissued an “overweight” rating on shares of Allstate in a research note on Thursday, May 28th. Mizuho dropped their price objective on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, March 20th. Finally, Wells Fargo & Company lifted their price objective on shares of Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and an average price target of $240.33.

Allstate Trading Up 2.9%

Shares of ALL opened at $223.45 on Thursday. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $227.62. The company has a 50-day moving average of $214.08 and a 200 day moving average of $208.82. The firm has a market capitalization of $57.52 billion, a price-to-earnings ratio of 4.93, a PEG ratio of 0.39 and a beta of 0.18. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The company had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same quarter last year, the business posted $3.53 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, research analysts expect that The Allstate Corporation will post 29.43 EPS for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a dividend of $1.08 per share. The ex-dividend date is Monday, June 1st. This represents a $4.32 dividend on an annualized basis and a yield of 1.9%. Allstate’s dividend payout ratio (DPR) is presently 9.53%.

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.