252,378 Shares in The Allstate Corporation $ALL Acquired by Corient Private Wealth LP

Corient Private Wealth LP purchased a new stake in shares of The Allstate Corporation (NYSE:ALL) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 252,378 shares of the insurance provider’s stock, valued at approximately $60,052,000. Corient Private Wealth LP owned approximately 0.10% of Allstate at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. MV Capital Management Inc. bought a new position in shares of Allstate in the fourth quarter valued at approximately $25,000. Gables Capital Management Inc. acquired a new stake in Allstate during the second quarter worth about $26,000. Navalign LLC bought a new stake in shares of Allstate during the fourth quarter valued at approximately $27,000. Kelleher Financial Advisors bought a new stake in Allstate in the 2nd quarter valued at $28,000. Finally, Evolution Wealth Management Inc. raised its position in 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 in the last quarter. 76.47% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Andrea Redmond sold 2,225 shares of Allstate stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following the sale, the director directly owned 2,225 shares of the company’s stock, valued at approximately $451,474.75. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Mario Rizzo sold 56,225 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total value of $14,870,388.00. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at $21,747,396.96. This represents a 40.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 91,446 shares of company stock valued at $24,208,675. 1.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wall Street Zen raised Allstate from a “hold” rating to a “buy” rating in a report on Monday, July 20th. Wells Fargo & Company downgraded Allstate from an “equal weight” rating to an “underweight” rating and boosted their target price for the stock from $243.00 to $250.00 in a research report on Friday, August 7th. Mizuho boosted their target price on Allstate from $255.00 to $272.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. Cantor Fitzgerald raised their target price on shares of Allstate from $236.00 to $242.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Finally, Zacks Research upgraded shares of Allstate from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 17th. Four equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $265.26.

Allstate Price Performance

ALL stock opened at $257.24 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24. 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 $65.05 billion, a P/E ratio of 5.14, a P/E/G ratio of 0.40 and a beta of 0.16. The company’s 50-day moving average price is $253.33 and its two-hundred day moving average price is $226.56.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, topping analysts’ consensus estimates of $6.06 by $2.93. The company had revenue of $18.60 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 quarter in the prior year, the firm posted $5.94 EPS. On average, analysts anticipate that The Allstate Corporation will post 34.45 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be given 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 dividend payout ratio (DPR) is currently 8.63%.

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.