3,099 Shares in The Allstate Corporation $ALL Acquired by Empirical Asset Management LLC

Empirical Asset Management LLC bought a new position in The Allstate Corporation (NYSE:ALL) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,099 shares of the insurance provider’s stock, valued at approximately $737,000.

Several other large investors have also recently made changes to their positions in ALL. Gables Capital Management Inc. bought a new stake in shares of Allstate in the 2nd quarter worth approximately $26,000. Allied Private Wealth LLC bought a new position in shares of Allstate during the 2nd quarter valued at $29,000. Kelleher Financial Advisors purchased a new position in Allstate in the 2nd quarter worth $28,000. MV Capital Management Inc. purchased a new position in Allstate in the 4th quarter worth $25,000. Finally, Navalign LLC bought a new stake in Allstate in the fourth quarter worth $27,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO Mario Rizzo sold 56,225 shares of the firm’s stock in a transaction on 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 sale, the chief operating officer owned 82,227 shares of the company’s stock, valued at $21,747,396.96. This trade represents a 40.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the sale, the insider owned 27,558 shares in the company, valued at approximately $5,959,968.66. This trade represents a 5.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 92,996 shares of company stock valued at $24,543,894 in the last 90 days. 1.55% of the stock is owned by corporate insiders.

Allstate Stock Performance

Shares of NYSE:ALL opened at $261.27 on Wednesday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average price of $248.26 and a 200-day moving average price of $223.92. The company has a market cap of $66.06 billion, a price-to-earnings ratio of 5.22, 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 posted its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.06 by $2.93. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The company had revenue of $15.43 billion for the quarter, compared to analysts’ expectations of $15.46 billion. During the same period last year, the firm earned $5.94 earnings per share. Allstate’s quarterly revenue was up 11.8% on a year-over-year basis. As a group, equities analysts anticipate that The Allstate Corporation will post 34.2 EPS for the current year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders 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 dividend yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate’s dividend payout ratio (DPR) is currently 8.63%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ALL. Mizuho raised their price objective on Allstate from $255.00 to $272.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Cantor Fitzgerald raised their price target on Allstate from $236.00 to $242.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Wall Street Zen raised Allstate from a “hold” rating to a “buy” rating in a research note on Monday, July 20th. Roth Capital set a $300.00 price objective on Allstate in a research report on Thursday, August 6th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $280.00 price objective on shares of Allstate in a research note on Friday, August 7th. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Allstate presently has a consensus rating of “Hold” and a consensus price target of $265.53.

Allstate 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.