OP Asset Management Ltd Buys Shares of 35,914 The Allstate Corporation $ALL

OP Asset Management Ltd purchased a new stake in The Allstate Corporation (NYSE:ALL) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 35,914 shares of the insurance provider’s stock, valued at approximately $7,446,000.

Several other large investors have also modified their holdings of the business. State Street Corp raised its position 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 purchasing an additional 438,034 shares during the last quarter. GQG Partners LLC grew its holdings in Allstate by 36.0% during 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 buying an additional 1,452,993 shares during the last quarter. Franklin Resources Inc. increased its position in Allstate by 29.2% during the fourth quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock worth $1,042,321,000 after buying an additional 1,131,172 shares in the last quarter. Boston Partners raised its holdings in shares of Allstate by 14.9% in the third quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock worth $654,652,000 after acquiring an additional 395,195 shares during the last quarter. Finally, Raymond James Financial Inc. raised its holdings in shares of Allstate by 3.3% in the second quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider’s stock worth $562,388,000 after acquiring an additional 88,620 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ALL. 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 note on Friday, May 1st. Wall Street Zen cut shares of Allstate from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. 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. The Goldman Sachs Group reissued a “neutral” rating and set a $231.00 price objective on shares of Allstate in a research note on Thursday, March 5th. Finally, Zacks Research lowered shares of Allstate from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Allstate has an average rating of “Moderate Buy” and a consensus price target of $240.33.

Allstate Stock Down 0.8%

Shares of NYSE:ALL opened at $231.74 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The firm has a market cap of $59.65 billion, a price-to-earnings ratio of 5.11, a PEG ratio of 0.41 and a beta of 0.18. The stock’s 50-day moving average price is $217.25 and its two-hundred day moving average price is $209.89. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $237.10.

Allstate (NYSE:ALL) last posted its quarterly earnings data 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 company had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.53 EPS. On average, research analysts forecast that The Allstate Corporation will post 29.75 EPS for the current 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 1.9%. Allstate’s dividend payout ratio is 9.53%.

Insiders Place Their Bets

In other Allstate news, Director Andrea Redmond sold 2,225 shares of Allstate 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 transaction, the director owned 2,225 shares in the company, valued at $451,474.75. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Mario Rizzo sold 18,578 shares of the business’s stock in a transaction on 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 sale, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at $17,991,267.60. This represents a 18.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 22,353 shares of company stock valued at $4,851,560 over the last quarter. Company insiders own 1.55% of the company’s stock.

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.