Calamos Advisors LLC Boosts Stock Position in The Allstate Corporation $ALL

Calamos Advisors LLC boosted its position in The Allstate Corporation (NYSE:ALL) by 6.0% in the 1st quarter, HoldingsChannel reports. The firm owned 101,113 shares of the insurance provider’s stock after purchasing an additional 5,728 shares during the period. Calamos Advisors LLC’s holdings in Allstate were worth $20,965,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MV Capital Management Inc. acquired a new stake in shares of Allstate during the 4th quarter worth about $25,000. Navalign LLC acquired a new position in shares of Allstate in the fourth quarter valued at approximately $27,000. Dorato Capital Management purchased a new position in shares of Allstate during the fourth quarter valued at approximately $27,000. Evolution Wealth Management Inc. lifted its stake in shares of Allstate by 7,000.0% during the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock valued at $29,000 after buying an additional 140 shares during the period. Finally, Palisade Asset Management LLC acquired a new stake in Allstate during the third quarter worth approximately $31,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the sale, the insider directly 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 legal filing with the SEC, which is available through this hyperlink. Also, COO Mario Rizzo sold 18,578 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief operating officer owned 82,227 shares in the company, valued at approximately $17,991,267.60. This trade represents a 18.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 22,353 shares of company stock worth $4,851,560 over the last three months. 1.55% of the stock is owned by insiders.

Allstate Stock Down 2.4%

Shares of ALL opened at $250.19 on Wednesday. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $257.67. The company’s fifty day moving average is $225.57 and its two-hundred day moving average is $213.66. The firm has a market cap of $64.41 billion, a PE ratio of 5.52, a price-to-earnings-growth ratio of 0.45 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 0.25.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. The business had revenue of $16.94 billion during 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 business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted $3.53 EPS. Analysts forecast that The Allstate Corporation will post 29.99 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be given 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 of this dividend is Monday, August 31st. Allstate’s payout ratio is 9.53%.

Analyst Upgrades and Downgrades

ALL has been the subject of several recent analyst reports. Morgan Stanley lifted their target price on shares of Allstate from $215.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Monday, July 6th. Mizuho increased their price target on Allstate from $255.00 to $272.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. Citigroup raised their price objective on Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Zacks Research downgraded Allstate from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, Wall Street Zen lowered Allstate from a “buy” rating to a “hold” rating in a research note on Sunday. Three research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $249.58.

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.