Key Points
- Insider sale: Allstate insider Mark Prindiville sold 1,550 shares on May 22 at an average price of $216.27, totaling about $335,219. After the transaction, he still held 27,558 shares.
- Company performance: Allstate reported strong quarterly results, with earnings of $10.65 per share versus the $7.31 estimate and revenue of $16.94 billion, beating expectations. The company also posted a 3.0% year-over-year revenue increase.
- Dividend and analyst outlook: Allstate declared a quarterly dividend of $1.08 per share, payable July 1, for an annualized yield of 2.1%. Analysts currently have a consensus rating of Moderate Buy with a price target of $241.67.
The Allstate Corporation (NYSE:ALL - Get Free Report) insider Mark Prindiville sold 1,550 shares of the business's stock in a transaction that occurred on Friday, May 22nd. The shares were 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 in the company, valued at $5,959,968.66. The trade was a 5.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Allstate Trading Down 1.8%
NYSE ALL opened at $208.90 on Thursday. The stock has a market capitalization of $53.78 billion, a price-to-earnings ratio of 4.61, a PEG ratio of 0.38 and a beta of 0.21. The stock's 50 day moving average price is $212.66 and its two-hundred day moving average price is $208.53. 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 Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $227.62.
Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, beating the consensus estimate of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The firm had revenue of $16.94 billion during the quarter, compared to analysts' expectations of $15.24 billion. During the same period in the prior year, the firm posted $3.53 earnings per share. The business's quarterly revenue was up 3.0% compared to the same quarter last year. As a group, analysts anticipate that The Allstate Corporation will post 29.28 earnings per share for the current fiscal year.
Allstate Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $4.32 annualized dividend and a yield of 2.1%. Allstate's dividend payout ratio is 9.53%.
Hedge Funds Weigh In On Allstate
A number of hedge funds and other institutional investors have recently bought and sold shares of ALL. Norges Bank bought a new position in Allstate during the fourth quarter worth about $531,294,000. GQG Partners LLC grew its holdings in Allstate by 36.0% during the fourth quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider's stock worth $1,142,449,000 after purchasing an additional 1,452,993 shares during the period. Franklin Resources Inc. grew its stake in Allstate by 29.2% in the 4th quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider's stock valued at $1,042,321,000 after buying an additional 1,131,172 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Allstate by 1,766.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 869,139 shares of the insurance provider's stock valued at $180,911,000 after buying an additional 822,583 shares during the last quarter. Finally, Woodline Partners LP acquired a new position in Allstate in the 3rd quarter valued at about $148,641,000. Institutional investors own 76.47% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on ALL shares. Wall Street Zen cut Allstate from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Zacks Research cut Allstate from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 7th. Cantor Fitzgerald reissued a "neutral" rating and set a $220.00 price target on shares of Allstate in a research report on Thursday, February 5th. Weiss Ratings raised Allstate from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Monday, March 23rd. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $260.00 price target on shares of Allstate in a report on Tuesday, March 3rd. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Allstate currently has a consensus rating of "Moderate Buy" and a consensus price target of $241.67.
Check Out Our Latest Research Report on Allstate
Allstate Company Profile
(
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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