Victory Capital Management Inc. Buys 17,036 Shares of The Allstate Corporation $ALL

Victory Capital Management Inc. boosted its stake in The Allstate Corporation (NYSE:ALL) by 4.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 398,571 shares of the insurance provider’s stock after acquiring an additional 17,036 shares during the period. Victory Capital Management Inc.’s holdings in Allstate were worth $85,553,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. lifted its stake in Allstate by 3.1% in the second quarter. Avantax Advisory Services Inc. now owns 23,573 shares of the insurance provider’s stock valued at $4,745,000 after buying an additional 704 shares during the period. Truist Financial Corp boosted its stake in Allstate by 4.7% during the third quarter. Truist Financial Corp now owns 123,461 shares of the insurance provider’s stock worth $26,501,000 after acquiring an additional 5,542 shares in the last quarter. Davis Capital Management acquired a new stake in Allstate in the third quarter worth $2,767,000. First Horizon Corp bought a new stake in Allstate in the third quarter valued at $11,109,000. Finally, Coastal Bridge Advisors LLC raised its holdings in shares of Allstate by 530.6% during the third quarter. Coastal Bridge Advisors LLC now owns 18,174 shares of the insurance provider’s stock valued at $3,901,000 after purchasing an additional 15,292 shares during the period. Institutional investors own 76.47% of the company’s stock.

Analyst Ratings Changes

ALL has been the topic of a number of research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allstate in a research note on Wednesday, January 21st. Wall Street Zen cut Allstate from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. JPMorgan Chase & Co. lifted their price target on shares of Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Keefe, Bruyette & Woods upped their price objective on shares of Allstate from $254.00 to $260.00 and gave the stock an “outperform” rating in a report on Tuesday, February 10th. Finally, Mizuho lifted their price objective on shares of Allstate from $255.00 to $281.00 and gave the company an “outperform” rating in a report on Monday, February 9th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.88.

Allstate Stock Performance

Shares of ALL opened at $211.58 on Friday. The stock has a 50 day moving average of $204.56 and a 200 day moving average of $204.70. The company has a market capitalization of $54.91 billion, a price-to-earnings ratio of 5.54, a PEG ratio of 0.44 and a beta of 0.23. The Allstate Corporation has a 12 month low of $176.00 and a 12 month high of $216.75. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, February 4th. The insurance provider reported $14.31 EPS for the quarter, topping analysts’ consensus estimates of $8.72 by $5.59. The company had revenue of $17.35 billion for the quarter, compared to analysts’ expectations of $17.23 billion. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $7.67 EPS. As a group, sell-side analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, March 2nd. This is a positive change from Allstate’s previous quarterly dividend of $1.00. Allstate’s dividend payout ratio is currently 11.31%.

Insiders Place Their Bets

In other Allstate news, insider Suren Gupta sold 19,593 shares of the company’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the sale, the insider directly owned 100,646 shares of the company’s stock, valued at $21,135,660. This represents a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.70% of the company’s stock.

Allstate 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.