Meeder Asset Management Inc. Takes Position in The Allstate Corporation $ALL

Meeder Asset Management Inc. purchased a new position in shares of The Allstate Corporation (NYSE:ALL) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 77,548 shares of the insurance provider’s stock, valued at approximately $18,452,000. Allstate makes up about 0.9% of Meeder Asset Management Inc.’s portfolio, making the stock its 21st largest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allied Private Wealth LLC purchased a new position in Allstate during the 2nd quarter valued at about $29,000. Kelleher Financial Advisors acquired a new position in Allstate during the second quarter worth about $28,000. MV Capital Management Inc. purchased a new stake in shares of Allstate in the fourth quarter valued at about $25,000. Navalign LLC purchased a new stake in shares of Allstate in the fourth quarter valued at about $27,000. Finally, Evolution Wealth Management Inc. grew its position in shares of Allstate by 7,000.0% in the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 140 shares during the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider John E. Dugenske sold 32,996 shares of the firm’s stock in a transaction 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 sale, the insider owned 13,054 shares in the company, valued at $3,515,833.82. This trade represents a 71.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andrea Redmond sold 2,225 shares of Allstate stock in a transaction 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 sale, the director directly 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 disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 92,996 shares of company stock valued at $24,543,894. Insiders own 1.55% of the company’s stock.

Wall Street Analyst Weigh In

ALL has been the subject of a number of recent research reports. Citigroup cut shares of Allstate from a “neutral” rating to a “sell” rating and raised their price objective for the stock from $226.00 to $240.00 in a research note on Tuesday, August 11th. Barclays upped their target price on Allstate from $213.00 to $226.00 and gave the company an “underweight” rating in a research note on Thursday, August 6th. Raymond James Financial reiterated a “strong-buy” rating and set a $315.00 target price on shares of Allstate in a report on Tuesday, August 11th. Piper Sandler raised their price target on Allstate from $268.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Finally, Roth Capital set a $300.00 price target on Allstate in a report on Thursday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $265.53.

Allstate Stock Performance

Shares of NYSE ALL opened at $257.88 on Tuesday. The company has a 50-day simple moving average of $247.38 and a 200-day simple moving average of $223.47. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36. The company has a market cap of $65.21 billion, a PE ratio of 5.15, a price-to-earnings-growth ratio of 0.41 and a beta of 0.16. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $277.22.

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 the consensus estimate of $6.06 by $2.93. The business had revenue of $15.43 billion for the quarter, compared to the consensus estimate of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.94 earnings per share. On average, equities analysts anticipate that The Allstate Corporation will post 33.92 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. Shareholders of record on Monday, August 31st will be issued a $1.08 dividend. The ex-dividend date is Monday, August 31st. This represents a $4.32 annualized dividend and a yield of 1.7%. Allstate’s payout ratio is 8.63%.

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.