The Allstate Corporation $ALL Shares Acquired by NEOS Investment Management LLC

NEOS Investment Management LLC increased its holdings in The Allstate Corporation (NYSE:ALL) by 50.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,905 shares of the insurance provider’s stock after purchasing an additional 8,643 shares during the period. NEOS Investment Management LLC’s holdings in Allstate were worth $5,561,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. lifted its position in Allstate by 79.7% during the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock valued at $27,000 after buying an additional 55 shares in the last quarter. Barnes Dennig Private Wealth Management LLC lifted its position in Allstate by 112.3% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 73 shares in the last quarter. Clearstead Trust LLC grew its position in Allstate by 3,800.0% in the second quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 152 shares in the last quarter. Armstrong Advisory Group Inc. grew its stake in Allstate by 72.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 67 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Allstate by 315.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 126 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Trading Down 1.3%

NYSE ALL opened at $209.58 on Thursday. The firm’s 50 day moving average price is $204.07 and its two-hundred day moving average price is $204.39. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.43 and a current ratio of 0.37. The stock has a market cap of $54.84 billion, a price-to-earnings ratio of 5.49, a PEG ratio of 0.45 and a beta of 0.23. The Allstate Corporation has a twelve month low of $176.00 and a twelve month high of $216.75.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, beating the consensus estimate of $8.72 by $5.59. The firm had revenue of $14.57 billion for the quarter, compared to analyst estimates of $17.23 billion. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.67 EPS. Equities analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 2.1%. This is an increase from Allstate’s previous quarterly dividend of $1.00. The ex-dividend date is Monday, March 2nd. Allstate’s dividend payout ratio is presently 10.47%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ALL shares. UBS Group upped their price target on Allstate from $250.00 to $255.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Weiss Ratings restated a “buy (b)” rating on shares of Allstate in a research report on Wednesday, January 21st. Wall Street Zen lowered Allstate from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Mizuho lifted their price objective on shares of Allstate from $255.00 to $281.00 and gave the company an “outperform” rating in a research note on Monday, February 9th. Finally, Wells Fargo & Company increased their target price on shares of Allstate from $223.00 to $228.00 and gave the company an “equal weight” rating in a research report on Friday, February 6th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $239.35.

Insiders Place Their Bets

In other news, insider Suren Gupta sold 21,871 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $215.21, for a total transaction of $4,706,857.91. Following the completion of the sale, the insider directly owned 100,646 shares of the company’s stock, valued at $21,660,025.66. This trade represents a 17.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders sold 46,600 shares of company stock valued at $9,926,140. Corporate insiders own 1.70% of the company’s stock.

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.