Healthcare of Ontario Pension Plan Trust Fund Raises Position in The Allstate Corporation $ALL

Healthcare of Ontario Pension Plan Trust Fund raised its stake in The Allstate Corporation (NYSE:ALL) by 2,223.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 242,344 shares of the insurance provider’s stock after purchasing an additional 231,912 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.09% of Allstate worth $50,444,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp raised its stake in shares of Allstate by 3.7% in the fourth quarter. State Street Corp now owns 12,297,551 shares of the insurance provider’s stock worth $2,571,600,000 after purchasing an additional 438,034 shares during the last quarter. GQG Partners LLC raised its stake in shares of Allstate by 36.0% in the fourth quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock worth $1,142,449,000 after purchasing an additional 1,452,993 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Allstate by 29.2% in the fourth quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock worth $1,042,321,000 after purchasing an additional 1,131,172 shares during the last quarter. Boston Partners raised its stake in shares of Allstate by 14.9% in the third quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock worth $654,652,000 after purchasing an additional 395,195 shares during the last quarter. Finally, Raymond James Financial Inc. raised its stake in shares of 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. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Allstate

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the transaction, the insider directly owned 27,558 shares of the company’s stock, valued at approximately $5,959,968.66. This represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Mario Rizzo sold 18,578 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total value of $4,064,866.40. Following the transaction, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at approximately $17,991,267.60. This trade represents a 18.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 22,353 shares of company stock valued at $4,851,560. Company insiders own 1.55% of the company’s stock.

Wall Street Analysts Forecast Growth

ALL has been the subject of several analyst reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $231.00 price objective on shares of Allstate in a research note on Thursday, March 5th. Wells Fargo & Company increased their price objective on Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Mizuho lowered their price objective on Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, March 20th. Zacks Research lowered Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Allstate in a report on Thursday, May 28th. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $240.33.

Allstate Stock Performance

ALL stock opened at $221.58 on Monday. The firm has a market cap of $57.04 billion, a PE ratio of 4.89, a P/E/G ratio of 0.40 and a beta of 0.19. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The business has a 50 day moving average of $214.68 and a 200-day moving average of $208.92. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $227.62.

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

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $1.08 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $4.32 annualized dividend and a dividend yield of 1.9%. Allstate’s dividend payout ratio is currently 9.53%.

Allstate Company 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.