Saudi Central Bank Boosts Position in The Allstate Corporation $ALL

Saudi Central Bank raised its stake in shares of The Allstate Corporation (NYSE:ALL) by 87.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 18,076 shares of the insurance provider’s stock after acquiring an additional 8,417 shares during the period. Saudi Central Bank’s holdings in Allstate were worth $4,301,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Allstate during the 2nd quarter valued at approximately $5,439,448,000. Bank of America Corp DE acquired a new position in shares of Allstate in the 2nd quarter valued at $1,410,362,000. GQG Partners LLC purchased a new stake in Allstate during the second quarter worth $1,245,710,000. Deutsche Bank AG acquired a new stake in Allstate during the second quarter valued at $1,008,648,000. Finally, Norges Bank acquired a new stake in Allstate during the fourth quarter valued at $531,294,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Allstate news, insider John Dugenske sold 32,996 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the completion of the transaction, the insider owned 13,054 shares of the company’s stock, valued at $3,515,833.82. This represents a 71.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Mario Rizzo sold 56,225 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were 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 owned 82,227 shares in the company, valued at approximately $21,747,396.96. This trade represents a 40.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.55% of the company’s stock.

Allstate Stock Performance

NYSE:ALL opened at $259.43 on Monday. 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 capitalization of $65.60 billion, a PE ratio of 5.18, a P/E/G ratio of 0.58 and a beta of 0.15. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $277.22. The company has a fifty day moving average of $256.91 and a two-hundred day moving average of $228.91.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.06 by $2.93. The business had revenue of $18.60 billion for the quarter, compared to analyst estimates of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the business earned $5.94 earnings per share. As a group, research analysts forecast that The Allstate Corporation will post 35.5 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business 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 $1.08 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 dividend on an annualized basis and a yield of 1.7%. Allstate’s dividend payout ratio (DPR) is currently 8.63%.

Key Stories Impacting Allstate

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Allstate is included among insurers using artificial intelligence, data and technology to improve operating efficiency, underwriting and growth, which could support long-term margins and competitiveness. 3 Insurers to Add to Portfolio as AI Transforms Insurance Operations
• Positive Sentiment: A review of Allstate’s financial strength and earnings outlook suggests the company may merit renewed investor consideration, reinforcing the case for its profitability and balance-sheet position. Affirmed Financial Strength And Earnings Outlook Might Change The Case For Investing In Allstate
• Positive Sentiment: Allstate is highlighted as a value-oriented property-and-casualty insurer with premium growth, underwriting discipline and investment-portfolio gains. 3 P&C Insurers to Add for Better Returns in Sluggish September
• Positive Sentiment: Allstate is listed among low-beta, dividend-paying stocks that could offer defensive characteristics during September volatility, with improving earnings estimates cited as a supporting factor. Buy 5 Stocks to Stay Safe in Wall Street’s Historically Worst Month
• Neutral Sentiment: Comparisons with Tokio Marine focus on relative valuation and value-investing characteristics rather than a new company-specific catalyst. ALL or TKOMY: Which Is the Better Value Stock Right Now?
• Neutral Sentiment: An Allstate driving-safety report ranking for Wichita provides local auto-insurance context but does not materially change the company’s financial outlook. How bad or good are Wichita drivers? See how the city ranks in Allstate report
• Negative Sentiment: Allstate shares have declined since the latest earnings report, prompting questions about whether the stock can rebound despite the company’s stronger-than-expected results. Allstate Down 4.4% Since Last Earnings Report: Can It Rebound?
• Negative Sentiment: A report that Tyler Perry paid an 81-year-old woman’s $18,000 repair bill after Allstate denied her claim could create reputational risk and renewed scrutiny of claims-handling practices, although it appears to be an isolated customer dispute. Tyler Perry pays 81-year-old woman’s $18K repair bill after Allstate denies claim

Wall Street Analyst Weigh In

A number of research firms have weighed in on ALL. Barclays lifted their price objective on shares of Allstate from $213.00 to $226.00 and gave the company an “underweight” rating in a report on Thursday, August 6th. Roth Capital set a $300.00 target price on Allstate in a research report on Thursday, August 6th. The Goldman Sachs Group restated a “neutral” rating and issued a $280.00 price target on shares of Allstate in a research note on Friday, August 7th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $315.00 price target on shares of Allstate in a report on Tuesday, August 11th. Finally, Atlantic Securities set a $319.00 price target on Allstate in a research report on Wednesday, July 15th. Four analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Allstate presently has an average rating of “Hold” and an average target price of $263.90.

About Allstate

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.