Allen Investment Management LLC Buys New Stake in The Allstate Corporation $ALL

Allen Investment Management LLC bought a new stake in shares of The Allstate Corporation (NYSE:ALL) during the fourth quarter, HoldingsChannel reports. The fund bought 3,419 shares of the insurance provider’s stock, valued at approximately $712,000.

A number of other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC grew its stake in Allstate by 60.2% in the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock worth $1,253,000 after acquiring an additional 2,443 shares during the period. Revolve Wealth Partners LLC acquired a new stake in shares of Allstate during the fourth quarter worth $231,000. WINTON GROUP Ltd acquired a new stake in shares of Allstate during the second quarter worth $210,000. Treasurer of the State of North Carolina grew its position in shares of Allstate by 2.5% in the second quarter. Treasurer of the State of North Carolina now owns 123,272 shares of the insurance provider’s stock valued at $24,816,000 after purchasing an additional 3,051 shares during the period. Finally, Ieq Capital LLC increased its stake in Allstate by 20.1% in the second quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider’s stock valued at $7,713,000 after purchasing an additional 6,412 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ALL. Wells Fargo & Company raised their price target on Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Wall Street Zen lowered shares of Allstate from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Raymond James Financial reissued a “strong-buy” rating and issued a $260.00 target price on shares of Allstate in a research report on Tuesday, March 3rd. JPMorgan Chase & Co. boosted their target price on shares of Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Allstate in a research note on Thursday, May 28th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $241.67.

Insider Activity at Allstate

In other news, insider Mark Q. Prindiville sold 1,550 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the sale, the insider owned 27,558 shares of the company’s stock, valued at $5,959,968.66. This represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrea Redmond sold 2,225 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the sale, the director owned 2,225 shares of the company’s stock, valued at approximately $451,474.75. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 22,353 shares of company stock worth $4,851,560. Corporate insiders own 1.55% of the company’s stock.

Allstate Trading Up 1.8%

NYSE ALL opened at $210.94 on Wednesday. The firm has a market capitalization of $54.30 billion, a price-to-earnings ratio of 4.65, a PEG ratio of 0.37 and a beta of 0.18. 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 Allstate Corporation has a one year low of $188.08 and a one year high of $227.62. The company’s 50 day moving average price is $212.78 and its 200 day moving average price is $208.59.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $15.24 billion. During the same period in the previous year, the firm earned $3.53 earnings per share. Allstate’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, sell-side analysts predict that The Allstate Corporation will post 29.43 EPS for the current year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, June 1st. Allstate’s dividend payout ratio is 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.