Hsbc Holdings PLC Acquires 85,808 Shares of The Allstate Corporation $ALL

Hsbc Holdings PLC boosted its holdings in The Allstate Corporation (NYSE:ALL) by 8.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,141,943 shares of the insurance provider’s stock after purchasing an additional 85,808 shares during the quarter. Hsbc Holdings PLC’s holdings in Allstate were worth $238,232,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. World Investment Advisors raised its stake in Allstate by 26.2% during the fourth quarter. World Investment Advisors now owns 39,946 shares of the insurance provider’s stock valued at $8,315,000 after buying an additional 8,290 shares during the last quarter. Larry Mathis Financial Planning LLC purchased a new stake in shares of Allstate in the fourth quarter worth $293,000. Corient Private Wealth LLC increased its holdings in shares of Allstate by 4.6% during the fourth quarter. Corient Private Wealth LLC now owns 250,249 shares of the insurance provider’s stock valued at $52,092,000 after acquiring an additional 11,119 shares in the last quarter. Pure Financial Advisors LLC increased its holdings in shares of Allstate by 39.1% during the fourth quarter. Pure Financial Advisors LLC now owns 1,850 shares of the insurance provider’s stock valued at $385,000 after acquiring an additional 520 shares in the last quarter. Finally, Rehmann Capital Advisory Group raised its position in shares of Allstate by 18.7% in the 4th quarter. Rehmann Capital Advisory Group now owns 2,422 shares of the insurance provider’s stock worth $504,000 after purchasing an additional 381 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

Allstate Price Performance

NYSE ALL opened at $249.84 on Friday. The Allstate Corporation has a one year low of $188.08 and a one year high of $250.38. The stock has a 50-day moving average of $219.88 and a 200 day moving average of $211.27. The company has a market capitalization of $64.31 billion, a price-to-earnings ratio of 5.51, a PEG ratio of 0.43 and a beta of 0.16. 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 posted its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.31 by $3.34. The business had revenue of $16.94 billion for the quarter, compared to analysts’ expectations of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.53 EPS. On average, sell-side analysts forecast that The Allstate Corporation will post 29.75 EPS for the current year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, June 1st. Allstate’s payout ratio is presently 9.53%.

Insider Activity at Allstate

In related news, insider Mark Q. Prindiville sold 1,550 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the transaction, the insider owned 27,558 shares in the company, valued at $5,959,968.66. This represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mario Rizzo sold 18,578 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the sale, the chief operating officer owned 82,227 shares in the company, valued at $17,991,267.60. This represents a 18.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 22,353 shares of company stock worth $4,851,560 over the last quarter. Company insiders own 1.55% of the company’s stock.

Wall Street Analysts Forecast Growth

ALL has been the topic of a number of analyst reports. Piper Sandler reiterated an “overweight” rating on shares of Allstate in a research note on Thursday, May 28th. Wells Fargo & Company raised their price objective on shares of Allstate from $229.00 to $243.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Mizuho decreased their target price on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, March 20th. Wall Street Zen downgraded shares of Allstate from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Citigroup increased their price target on shares of Allstate from $221.00 to $226.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $240.33.

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.