one8zero8 LLC Purchases New Stake in The Allstate Corporation $ALL

one8zero8 LLC purchased a new stake in shares of The Allstate Corporation (NYSE:ALL) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,950 shares of the insurance provider’s stock, valued at approximately $464,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALL. BlackRock Inc. acquired a new stake in shares of Allstate during the 2nd quarter worth about $5,439,448,000. State Street Corp boosted its holdings in shares of Allstate by 3.7% during the 4th quarter. State Street Corp now owns 12,297,551 shares of the insurance provider’s stock worth $2,571,600,000 after buying an additional 438,034 shares during the period. Bank of America Corp DE grew its stake in Allstate by 8.1% in the 1st quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock valued at $1,640,748,000 after buying an additional 596,321 shares during the last quarter. GQG Partners LLC raised its holdings in Allstate by 36.0% in the 4th quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock valued at $1,142,449,000 after acquiring an additional 1,452,993 shares during the period. Finally, Franklin Resources Inc. raised its holdings 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 acquiring an additional 1,131,172 shares during the period. 76.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Weiss Ratings upgraded Allstate from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, August 6th. Evercore set a $240.00 target price on Allstate in a research note on Friday, July 10th. Zacks Research raised Allstate from a “hold” rating to a “strong-buy” rating in a report on Monday. Atlantic Securities set a $319.00 price objective on Allstate in a report on Wednesday, July 15th. Finally, Barclays increased their price objective on Allstate from $213.00 to $226.00 and gave the stock an “underweight” rating in a research report on Thursday, August 6th. Four research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $265.53.

Allstate Stock Performance

Shares of NYSE:ALL opened at $260.24 on Thursday. The company’s 50 day moving average price is $249.00 and its two-hundred day moving average price is $224.35. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $277.22. The firm has a market cap of $65.80 billion, a PE ratio of 5.20, a PEG ratio of 0.40 and a beta of 0.16. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, beating analysts’ consensus estimates of $6.06 by $2.93. The company had revenue of $15.43 billion during 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 firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the business earned $5.94 earnings per share. Equities research analysts predict that The Allstate Corporation will post 34.5 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate’s dividend payout ratio (DPR) is 8.63%.

Insider Buying and Selling

In other Allstate news, Director Andrea Redmond sold 2,225 shares of Allstate stock in a transaction on Monday, June 1st. The stock was sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the transaction, the director directly owned 2,225 shares of the company’s stock, valued at $451,474.75. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of the company’s stock in a transaction 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 sale, the insider owned 27,558 shares of the company’s stock, valued at approximately $5,959,968.66. The trade was a 5.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 92,996 shares of company stock worth $24,543,894 in the last quarter. Insiders own 1.55% of the company’s stock.

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.