2,877 Shares in The Allstate Corporation $ALL Bought by Globeflex Capital L P

Globeflex Capital L P purchased a new stake in shares of The Allstate Corporation (NYSE:ALL) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,877 shares of the insurance provider’s stock, valued at approximately $685,000.

Several other institutional investors have also recently bought and sold shares of ALL. BlackRock Inc. bought a new position in Allstate in the 2nd quarter valued at about $5,439,448,000. GQG Partners LLC acquired a new position in Allstate during the 2nd quarter valued at about $1,245,710,000. Deutsche Bank AG bought a new stake in Allstate during the 2nd quarter worth approximately $1,008,648,000. Norges Bank purchased a new stake in shares of Allstate in the fourth quarter worth approximately $531,294,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Allstate in the second quarter worth approximately $425,484,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

ALL has been the topic of a number of recent research reports. Piper Sandler raised their target price on Allstate from $268.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, August 10th. Wells Fargo & Company cut Allstate from an “equal weight” rating to an “underweight” rating and raised their price objective for the company from $243.00 to $250.00 in a research note on Friday, August 7th. Zacks Research raised shares of Allstate from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th. Wall Street Zen upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research note on Monday, July 20th. Finally, Morgan Stanley set a $265.00 target price on shares of Allstate in a report on Tuesday, August 11th. Four analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $265.26.

Allstate Stock Down 1.0%

ALL stock opened at $257.72 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market capitalization of $65.17 billion, a price-to-earnings ratio of 5.15, a PEG ratio of 0.40 and a beta of 0.16. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $277.22. The stock has a fifty day moving average of $251.80 and a 200-day moving average of $225.88.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.06 by $2.93. The business had revenue of $18.60 billion for the quarter, compared to analysts’ expectations of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the business posted $5.94 EPS. As a group, equities research analysts predict that The Allstate Corporation will post 34.45 earnings per share for the current year.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate’s dividend payout ratio is presently 8.63%.

Insider Activity at Allstate

In related news, Director Andrea Redmond sold 2,225 shares of Allstate stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the transaction, the director directly owned 2,225 shares in the company, valued at approximately $451,474.75. The trade was a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John E. Dugenske sold 32,996 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the sale, the insider directly owned 13,054 shares in the company, valued at $3,515,833.82. The trade was a 71.65% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 91,446 shares of company stock worth $24,208,675. 1.55% of the stock is owned by corporate insiders.

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.