Czech National Bank Acquires 2,462 Shares of The Allstate Corporation $ALL

Czech National Bank increased its holdings in shares of The Allstate Corporation (NYSE:ALL) by 3.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 73,272 shares of the insurance provider’s stock after buying an additional 2,462 shares during the quarter. Czech National Bank’s holdings in Allstate were worth $17,434,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of 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 worth $112,533,000 after purchasing an additional 26,586 shares during the last quarter. Strategic Global Advisors LLC raised its holdings in Allstate by 19.2% in the 4th quarter. Strategic Global Advisors LLC now owns 48,882 shares of the insurance provider’s stock valued at $10,175,000 after buying an additional 7,870 shares during the last quarter. Elevation Point Wealth Partners LLC boosted its position in Allstate by 130.9% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 19,288 shares of the insurance provider’s stock worth $4,016,000 after buying an additional 10,936 shares during the period. International Assets Investment Management LLC bought a new position in Allstate during the 4th quarter worth $161,000. Finally, Sienna Gestion bought a new position in shares of Allstate during the fourth quarter worth about $957,000. Institutional investors own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Citigroup upped their price objective on shares of Allstate from $221.00 to $226.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Weiss Ratings upgraded shares of Allstate from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday. HSBC downgraded Allstate from a “buy” rating to a “hold” rating and increased their price target for the stock from $244.00 to $264.00 in a report on Monday, July 6th. JPMorgan Chase & Co. lifted their price objective on Allstate from $263.00 to $282.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Finally, Wells Fargo & Company lowered Allstate from an “equal weight” rating to an “underweight” rating and upped their target price for the company from $243.00 to $250.00 in a research report on Friday. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Allstate presently has an average rating of “Hold” and an average price target of $259.50.

Allstate Stock Down 2.9%

Shares of NYSE ALL opened at $267.02 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24. The firm has a market cap of $68.74 billion, a PE ratio of 5.33, a P/E/G ratio of 0.47 and a beta of 0.16. The company’s fifty day simple moving average is $241.52 and its 200 day simple moving average is $220.45. The Allstate Corporation has a 12-month low of $188.08 and a 12-month 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 for the quarter, beating the consensus estimate of $6.06 by $2.93. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The firm had revenue of $15.43 billion during the quarter, compared to the consensus estimate of $15.46 billion. During the same period in the previous year, the firm posted $5.94 earnings per share. The business’s revenue was up 11.8% compared to the same quarter last year. As a group, sell-side analysts forecast that The Allstate Corporation will post 30.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Monday, August 31st. Allstate’s payout ratio is presently 9.53%.

Insider Transactions at Allstate

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the sale, the insider owned 27,558 shares of the company’s stock, valued at approximately $5,959,968.66. This trade represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Andrea Redmond sold 2,225 shares of the business’s 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 sale, the director owned 2,225 shares of the company’s stock, valued at approximately $451,474.75. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.55% of the company’s stock.

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.