Key Points
- Allstate COO Mario Rizzo sold 18,578 shares on May 1 at an average price of $218.80 for about $4.06 million, reducing his ownership by 18.43% to 82,227 shares valued around $17.99 million.
- Allstate posted a strong quarter, reporting $10.65 EPS versus $7.31 expected and $16.94 billion in revenue versus $15.24 billion, and the company raised its quarterly dividend to $1.08 (annualized $4.32, ~2.0% yield).
The Allstate Corporation (NYSE:ALL - Get Free Report) COO Mario Rizzo sold 18,578 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares in the company, valued at $17,991,267.60. The trade was a 18.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Allstate Stock Performance
NYSE ALL opened at $219.68 on Tuesday. The stock has a market cap of $56.55 billion, a PE ratio of 4.85, a P/E/G ratio of 0.43 and a beta of 0.21. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a 50-day moving average of $210.35 and a 200-day moving average of $205.85. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $221.19.
Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, beating analysts' consensus estimates of $7.31 by $3.34. The business had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. Allstate's quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.53 EPS. On average, sell-side analysts anticipate that The Allstate Corporation will post 26.35 EPS for the current year.
Allstate Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd were given a $1.08 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This is a positive change from Allstate's previous quarterly dividend of $1.00. This represents a $4.32 annualized dividend and a dividend yield of 2.0%. Allstate's dividend payout ratio (DPR) is currently 9.53%.
Hedge Funds Weigh In On Allstate
A number of hedge funds have recently added to or reduced their stakes in ALL. MV Capital Management Inc. acquired a new position in Allstate in the 4th quarter valued at $25,000. Dorato Capital Management acquired a new stake in shares of Allstate during the 4th quarter worth $27,000. Navalign LLC bought a new position in shares of Allstate in the fourth quarter worth $27,000. Evolution Wealth Management Inc. increased 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 worth $29,000 after purchasing an additional 140 shares during the period. Finally, Barnes Dennig Private Wealth Management LLC raised its stake in Allstate by 112.3% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider's stock valued at $30,000 after purchasing an additional 73 shares in the last quarter. Institutional investors own 76.47% of the company's stock.
Wall Street Analysts Forecast Growth
ALL has been the subject of several recent research reports. TD Cowen downgraded Allstate from a "buy" rating to a "hold" rating in a research note on Monday, January 12th. The Goldman Sachs Group reiterated a "neutral" rating and set a $231.00 price objective on shares of Allstate in a research report on Thursday, March 5th. Keefe, Bruyette & Woods lifted their target price on Allstate from $254.00 to $260.00 and gave the stock an "outperform" rating in a report on Tuesday, February 10th. Citigroup boosted their target price on shares of Allstate from $221.00 to $226.00 and gave the company a "neutral" rating in a research report on Friday. Finally, Wells Fargo & Company raised their price target on shares of Allstate from $227.00 to $229.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 9th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $240.56.
View Our Latest Analysis on Allstate
About Allstate
(
Get Free Report)
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.
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