Truist Financial Corp Purchases 5,542 Shares of The Allstate Corporation $ALL

Truist Financial Corp increased its holdings in The Allstate Corporation (NYSE:ALL) by 4.7% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 123,461 shares of the insurance provider’s stock after purchasing an additional 5,542 shares during the period. Truist Financial Corp’s holdings in Allstate were worth $26,501,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. J. Safra Sarasin Holding AG lifted its position in Allstate by 35.4% in the third quarter. J. Safra Sarasin Holding AG now owns 112,054 shares of the insurance provider’s stock valued at $24,052,000 after purchasing an additional 29,293 shares during the last quarter. One Wealth Advisors LLC increased its position in Allstate by 3.6% during the 3rd quarter. One Wealth Advisors LLC now owns 1,776 shares of the insurance provider’s stock valued at $381,000 after purchasing an additional 62 shares during the period. Belpointe Asset Management LLC increased its position in shares of Allstate by 9.5% during the third quarter. Belpointe Asset Management LLC now owns 2,791 shares of the insurance provider’s stock valued at $599,000 after buying an additional 241 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Allstate by 1.2% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 45,907 shares of the insurance provider’s stock worth $9,859,000 after acquiring an additional 557 shares during the period. Finally, Commerzbank Aktiengesellschaft FI grew its stake in Allstate by 15.9% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 9,409 shares of the insurance provider’s stock worth $2,020,000 after purchasing an additional 1,293 shares during the period. Institutional investors own 76.47% of the company’s stock.

Allstate Stock Up 0.3%

Shares of NYSE ALL opened at $198.89 on Friday. The stock has a market capitalization of $52.05 billion, a price-to-earnings ratio of 6.44, a P/E/G ratio of 0.43 and a beta of 0.24. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.32. The firm’s 50-day moving average price is $204.57 and its 200-day moving average price is $203.34. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $215.89.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $11.17 EPS for the quarter, topping analysts’ consensus estimates of $5.48 by $5.69. The firm had revenue of $17.26 billion during the quarter, compared to analysts’ expectations of $16.59 billion. Allstate had a net margin of 12.53% and a return on equity of 35.42%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $3.91 EPS. On average, equities research analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were issued a $1.00 dividend. The ex-dividend date was Monday, December 1st. This represents a $4.00 dividend on an annualized basis and a yield of 2.0%. Allstate’s payout ratio is currently 12.95%.

Insider Transactions at Allstate

In other Allstate news, insider Suren Gupta sold 21,871 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $215.21, for a total value of $4,706,857.91. Following the completion of the sale, the insider owned 100,646 shares of the company’s stock, valued at approximately $21,660,025.66. This trade represents a 17.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 48,400 shares of company stock valued at $10,313,256 over the last 90 days. 1.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ALL shares. Zacks Research lowered shares of Allstate from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 19th. Morgan Stanley restated an “equal weight” rating and issued a $215.00 price target (down previously from $245.00) on shares of Allstate in a research note on Tuesday, December 16th. William Blair cut shares of Allstate from an “outperform” rating to a “market perform” rating in a report on Thursday, December 18th. Roth Mkm upped their price objective on Allstate from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Finally, Evercore ISI set a $225.00 target price on shares of Allstate in a research report on Wednesday, January 7th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and an average target price of $236.19.

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.