Y Intercept Hong Kong Ltd Makes New $9.30 Million Investment in The Allstate Corporation $ALL

Y Intercept Hong Kong Ltd purchased a new position in shares of The Allstate Corporation (NYSE:ALL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 44,690 shares of the insurance provider’s stock, valued at approximately $9,302,000.

Other institutional investors have also recently bought and sold shares of the company. South Plains Financial Inc. increased its position in shares of Allstate by 41.5% during the third quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock valued at $36,000 after buying an additional 49 shares during the period. Coldstream Capital Management Inc. increased its position in shares of Allstate by 0.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider’s stock valued at $1,625,000 after buying an additional 50 shares during the period. Humankind Investments LLC increased its position in shares of Allstate by 4.5% during the third quarter. Humankind Investments LLC now owns 1,191 shares of the insurance provider’s stock valued at $256,000 after buying an additional 51 shares during the period. Cullen Frost Bankers Inc. increased its position in shares of Allstate by 0.9% during the fourth quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider’s stock valued at $1,210,000 after buying an additional 52 shares during the period. Finally, L2 Asset Management LLC increased its position in shares of Allstate by 4.7% during the third quarter. L2 Asset Management LLC now owns 1,223 shares of the insurance provider’s stock valued at $263,000 after buying an additional 55 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Trading Up 0.9%

Shares of ALL stock opened at $221.58 on Friday. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $227.62. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The firm’s 50 day moving average is $214.68 and its 200 day moving average is $208.94. The stock has a market capitalization of $57.04 billion, a P/E ratio of 4.89, a P/E/G ratio of 0.39 and a beta of 0.18.

Allstate (NYSE:ALL) last issued its earnings results 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 for the quarter, compared to analysts’ expectations of $15.24 billion. During the same quarter last year, the company posted $3.53 earnings per share. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. Research analysts expect that The Allstate Corporation will post 29.43 earnings per share for the current year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $1.08 dividend. The ex-dividend date is Monday, June 1st. This represents a $4.32 annualized dividend and a yield of 1.9%. Allstate’s dividend payout ratio (DPR) is currently 9.53%.

Insider Buying and Selling

In related news, insider Mark Q. Prindiville sold 1,550 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value of $335,218.50. Following the sale, the insider owned 27,558 shares in the company, valued at approximately $5,959,968.66. This trade represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Andrea Redmond sold 2,225 shares of the firm’s stock in a transaction that occurred on 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 sale, the director owned 2,225 shares in the company, valued at $451,474.75. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 22,353 shares of company stock worth $4,851,560. 1.55% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods cut shares of Allstate from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $266.00 to $242.00 in a research report on Monday, June 8th. Zacks Research cut shares of Allstate from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Barclays boosted their price target on shares of Allstate from $207.00 to $208.00 and gave the company an “underweight” rating in a research report on Wednesday, April 8th. The Goldman Sachs Group reiterated a “neutral” rating and set a $231.00 price target on shares of Allstate in a research report on Thursday, March 5th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Allstate in a research report on Thursday, May 28th. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and an average target price of $240.33.

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.