Cynosure Group LLC Takes Position in The Allstate Corporation $ALL

Cynosure Group LLC bought a new stake in The Allstate Corporation (NYSE:ALL) during the 4th quarter, Holdings Channel reports. The firm bought 2,252 shares of the insurance provider’s stock, valued at approximately $469,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Navalign LLC acquired a new stake in Allstate during the fourth quarter worth approximately $27,000. Dorato Capital Management acquired a new stake in Allstate during the fourth quarter worth approximately $27,000. Palisade Asset Management LLC acquired a new stake in Allstate during the third quarter worth approximately $31,000. Princeton Global Asset Management LLC grew its position in Allstate by 101.3% during the fourth quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock worth $31,000 after buying an additional 76 shares in the last quarter. Finally, Cornerstone Financial Management LLC acquired a new stake in Allstate during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ALL. Raymond James Financial reissued a “strong-buy” rating and set a $260.00 price target on shares of Allstate in a research report on Tuesday, March 3rd. Piper Sandler reissued an “overweight” rating on shares of Allstate in a research report on Thursday, May 28th. Wells Fargo & Company increased their price target on Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Citigroup increased their price target on Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Finally, Zacks Research downgraded Allstate from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $240.33.

Insider Buying and Selling at Allstate

In other Allstate news, COO Mario Rizzo sold 18,578 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $218.80, for a total value of $4,064,866.40. Following the sale, the chief operating officer owned 82,227 shares of the company’s stock, valued at approximately $17,991,267.60. This trade represents a 18.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Andrea Redmond sold 2,225 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the sale, the director directly owned 2,225 shares in the company, valued at approximately $451,474.75. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 22,353 shares of company stock valued at $4,851,560. 1.55% of the stock is currently owned by corporate insiders.

Allstate Trading Up 0.7%

Shares of ALL stock opened at $223.35 on Wednesday. The stock’s fifty day moving average price is $215.29 and its two-hundred day moving average price is $209.04. The company has a market cap of $57.49 billion, a PE ratio of 4.93, a P/E/G ratio of 0.40 and a beta of 0.19. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $227.62. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. The firm had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.53 EPS. Equities analysts predict that The Allstate Corporation will post 29.43 EPS for the current fiscal year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, June 1st. Allstate’s dividend payout ratio (DPR) is currently 9.53%.

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.