Allspring Global Investments Holdings LLC Buys 14,227 Shares of The Allstate Corporation $ALL

Allspring Global Investments Holdings LLC raised its stake in The Allstate Corporation (NYSE:ALL) by 8.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 185,400 shares of the insurance provider’s stock after buying an additional 14,227 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Allstate were worth $37,840,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALL. MV Capital Management Inc. acquired a new position in shares of Allstate during the 4th quarter worth about $25,000. Dorato Capital Management acquired a new stake in shares of Allstate in the 4th quarter valued at approximately $27,000. Navalign LLC acquired a new stake in shares of Allstate in the 4th quarter valued at approximately $27,000. Evolution Wealth Management Inc. boosted 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 worth $29,000 after acquiring an additional 140 shares during the last quarter. Finally, Princeton Global Asset Management LLC grew its holdings in Allstate by 101.3% during the fourth quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 76 shares during the period. Institutional investors own 76.47% of the company’s stock.

Insider Buying and Selling at Allstate

In other news, Director Andrea Redmond sold 2,225 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following the completion of the transaction, the director directly owned 2,225 shares of the company’s stock, valued at $451,474.75. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Mario Rizzo sold 18,578 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $218.80, for a total value of $4,064,866.40. Following the transaction, the chief operating officer owned 82,227 shares of the company’s stock, valued at approximately $17,991,267.60. The trade was a 18.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 22,353 shares of company stock valued at $4,851,560 in the last 90 days. 1.55% of the stock is currently owned by company insiders.

Allstate Stock Performance

Shares of ALL opened at $249.84 on Monday. The firm has a market cap of $64.31 billion, a P/E ratio of 5.51, a PEG ratio of 0.43 and a beta of 0.16. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $257.67. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The firm’s 50 day moving average price is $227.29 and its two-hundred day moving average price is $214.40.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. The business had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the business posted $3.53 earnings per share. On average, analysts forecast that The Allstate Corporation will post 30.4 EPS for the current fiscal year.

Allstate Announces Dividend

The company 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 dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate’s dividend payout ratio is 9.53%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ALL shares. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Allstate in a research note on Thursday, June 18th. Atlantic Securities set a $319.00 price target on shares of Allstate in a report on Wednesday. HSBC cut shares of Allstate from a “buy” rating to a “hold” rating and upped their price objective for the company from $244.00 to $264.00 in a research report on Monday, July 6th. UBS Group downgraded Allstate from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $255.00 to $261.00 in a research note on Wednesday, July 15th. Finally, JPMorgan Chase & Co. lifted their target price on Allstate from $263.00 to $282.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Three equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and an average target price of $254.80.

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.