Forum Financial Management LP Has $2.36 Million Stock Position in The Allstate Corporation $ALL

Forum Financial Management LP reduced its holdings in shares of The Allstate Corporation (NYSE:ALL) by 30.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,361 shares of the insurance provider’s stock after selling 4,956 shares during the quarter. Forum Financial Management LP’s holdings in Allstate were worth $2,356,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CIBC Bancorp USA Inc. bought a new position in shares of Allstate in the 3rd quarter valued at about $7,814,000. Elo Mutual Pension Insurance Co raised its holdings in Allstate by 39.6% during the third quarter. Elo Mutual Pension Insurance Co now owns 40,298 shares of the insurance provider’s stock worth $8,650,000 after acquiring an additional 11,431 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Allstate by 5.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552,120 shares of the insurance provider’s stock valued at $112,533,000 after purchasing an additional 26,586 shares during the last quarter. Mezzasalma Advisors LLC boosted its position in Allstate by 58.6% during the fourth quarter. Mezzasalma Advisors LLC now owns 23,918 shares of the insurance provider’s stock valued at $4,875,000 after purchasing an additional 8,837 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG grew its stake in Allstate by 28.9% in the third quarter. B. Metzler seel. Sohn & Co. AG now owns 50,408 shares of the insurance provider’s stock valued at $10,820,000 after purchasing an additional 11,297 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Stock Up 0.6%

ALL stock opened at $240.98 on Tuesday. 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 has a market capitalization of $62.03 billion, a PE ratio of 5.32, a PEG ratio of 0.42 and a beta of 0.19. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $241.78. The business’s 50 day simple moving average is $218.22 and its 200 day simple moving average is $210.45.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The business had revenue of $16.94 billion for the quarter, compared to analysts’ expectations of $15.24 billion. During the same quarter in the prior year, the business earned $3.53 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, research analysts anticipate that The Allstate Corporation will post 29.75 EPS for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a $1.08 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $4.32 annualized dividend and a dividend yield of 1.8%. Allstate’s dividend payout ratio is presently 9.53%.

Analysts Set New Price Targets

ALL has been the topic of several recent analyst reports. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $231.00 price target on shares of Allstate in a research report on Thursday, March 5th. Zacks Research downgraded Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Piper Sandler reissued an “overweight” rating on shares of Allstate in a research note on Thursday, May 28th. Raymond James Financial restated a “strong-buy” rating and set a $260.00 target price on shares of Allstate in a report on Tuesday, March 3rd. Finally, Wells Fargo & Company upped their price target on shares of Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $240.33.

Insider Transactions at Allstate

In related news, insider Mark Q. Prindiville sold 1,550 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value of $335,218.50. Following the transaction, the insider owned 27,558 shares in the company, valued at approximately $5,959,968.66. This represents a 5.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Mario Rizzo sold 18,578 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $17,991,267.60. This represents a 18.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 22,353 shares of company stock worth $4,851,560. 1.55% of the stock is owned by insiders.

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.