Glenview Trust Co Invests $33.72 Million in The Allstate Corporation $ALL

Glenview Trust Co acquired a new stake in shares of The Allstate Corporation (NYSE:ALL) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 141,710 shares of the insurance provider’s stock, valued at approximately $33,718,000. Glenview Trust Co owned about 0.06% of Allstate as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Allstate during the second quarter valued at $5,439,448,000. State Street Corp lifted its holdings in Allstate by 3.7% during the 4th quarter. State Street Corp now owns 12,297,551 shares of the insurance provider’s stock valued at $2,571,600,000 after buying an additional 438,034 shares in the last quarter. Bank of America Corp DE lifted its holdings in Allstate by 8.1% during the 1st quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock valued at $1,640,748,000 after buying an additional 596,321 shares in the last quarter. GQG Partners LLC boosted its position in Allstate by 36.0% in the 4th quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock valued at $1,142,449,000 after buying an additional 1,452,993 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of Allstate by 29.2% during the fourth quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock worth $1,042,321,000 after acquiring an additional 1,131,172 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insider Transactions at Allstate

In related news, Director Andrea Redmond sold 2,225 shares of Allstate stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the transaction, the director owned 2,225 shares in the company, valued at $451,474.75. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mario Rizzo sold 56,225 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total value of $14,870,388.00. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at $21,747,396.96. The trade was a 40.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 91,446 shares of company stock valued at $24,208,675 in the last 90 days. 1.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. UBS Group boosted their price target on Allstate from $261.00 to $275.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Atlantic Securities set a $319.00 price target on Allstate in a research report on Wednesday, July 15th. Zacks Research upgraded Allstate from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 17th. Barclays lifted their price objective on Allstate from $213.00 to $226.00 and gave the company an “underweight” rating in a report on Thursday, August 6th. Finally, Wells Fargo & Company lowered shares of Allstate from an “equal weight” rating to an “underweight” rating and upped their price objective for the stock from $243.00 to $250.00 in a research note on Friday, August 7th. Four equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, Allstate has an average rating of “Hold” and a consensus price target of $265.26.

Allstate Trading Down 1.7%

Allstate stock opened at $257.24 on Friday. 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 stock has a market cap of $65.05 billion, a PE ratio of 5.14, a price-to-earnings-growth ratio of 0.40 and a beta of 0.16. The stock has a 50-day moving average of $253.33 and a two-hundred day moving average of $226.56. The Allstate Corporation has a one year low of $188.08 and a one year high of $277.22.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.06 by $2.93. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The business had revenue of $18.60 billion during the quarter, compared to analysts’ expectations of $15.46 billion. During the same quarter last year, the company posted $5.94 earnings per share. The business’s quarterly revenue was up 11.8% on a year-over-year basis. On average, research analysts anticipate that The Allstate Corporation will post 34.45 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be given a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate’s dividend payout ratio is currently 8.63%.

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.