Rhumbline Advisers Raises Stock Holdings in The Allstate Co. (NYSE:ALL)

Rhumbline Advisers raised its stake in The Allstate Co. (NYSE:ALL) by 3.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 533,694 shares of the insurance provider’s stock after purchasing an additional 16,121 shares during the period. Rhumbline Advisers owned 0.20% of Allstate worth $85,210,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Allstate in the 4th quarter worth about $212,771,000. Palestra Capital Management LLC acquired a new stake in Allstate during the fourth quarter worth about $83,561,000. Balyasny Asset Management L.P. bought a new position in Allstate in the fourth quarter worth about $81,571,000. Artemis Investment Management LLP acquired a new position in Allstate in the first quarter valued at approximately $95,764,000. Finally, Mizuho Markets Americas LLC bought a new position in shares of Allstate during the fourth quarter valued at approximately $52,042,000. Institutional investors own 76.47% of the company’s stock.

Allstate Stock Up 0.1 %

NYSE:ALL opened at $189.20 on Wednesday. The Allstate Co. has a 1-year low of $105.85 and a 1-year high of $191.33. The firm has a market capitalization of $49.93 billion, a price-to-earnings ratio of 41.77, a PEG ratio of 1.78 and a beta of 0.48. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49. The business’s fifty day moving average price is $172.11 and its 200 day moving average price is $167.68.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, topping the consensus estimate of $0.33 by $1.28. The business had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period last year, the company posted ($4.42) earnings per share. On average, sell-side analysts forecast that The Allstate Co. will post 15.14 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Friday, August 30th. Allstate’s dividend payout ratio is presently 81.24%.

Wall Street Analysts Forecast Growth

ALL has been the topic of several recent research reports. Piper Sandler raised their price target on Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Bank of America boosted their price target on shares of Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Keefe, Bruyette & Woods lifted their price target on Allstate from $199.00 to $208.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Morgan Stanley lowered their price target on Allstate from $205.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Finally, Roth Mkm reiterated a “buy” rating and issued a $200.00 target price on shares of Allstate in a research report on Wednesday, August 14th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.88.

Insiders Place Their Bets

In other Allstate news, EVP Robert Toohey sold 16,682 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $180.17, for a total value of $3,005,595.94. Following the completion of the sale, the executive vice president now owns 4,873 shares of the company’s stock, valued at $877,968.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Robert Toohey sold 16,682 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $180.17, for a total value of $3,005,595.94. Following the completion of the sale, the executive vice president now directly owns 4,873 shares in the company, valued at $877,968.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Suren Gupta sold 45,775 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the completion of the transaction, the insider now owns 89,930 shares in the company, valued at $15,942,790.40. The disclosure for this sale can be found here. Insiders have sold 201,938 shares of company stock valued at $36,122,740 over the last three months. 1.80% of the stock is currently owned by insiders.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.