Financiere des Professionnels Fonds d investissement inc. Has $6.38 Million Stock Position in The Allstate Corporation $ALL

Financiere des Professionnels Fonds d investissement inc. lifted its position in The Allstate Corporation (NYSE:ALL) by 62.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,792 shares of the insurance provider’s stock after acquiring an additional 11,806 shares during the period. Financiere des Professionnels Fonds d investissement inc.’s holdings in Allstate were worth $6,384,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. MV Capital Management Inc. purchased a new position in Allstate during the 4th quarter worth approximately $25,000. Dorato Capital Management acquired a new stake in Allstate during the 4th quarter valued at $27,000. Navalign LLC purchased a new stake in shares of Allstate in the fourth quarter valued at $27,000. Evolution Wealth Management Inc. lifted its holdings in shares of Allstate by 7,000.0% in the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 140 shares in the last quarter. Finally, Princeton Global Asset Management LLC boosted its position in shares of Allstate by 101.3% in 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 during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Price Performance

Shares of NYSE:ALL opened at $241.19 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 Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $257.67. The business has a fifty day simple moving average of $226.55 and a 200 day simple moving average of $214.11. The firm has a market cap of $62.09 billion, a price-to-earnings ratio of 5.32, a P/E/G ratio of 0.42 and a beta of 0.16.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The firm had revenue of $16.94 billion during the quarter, compared to analysts’ expectations of $15.24 billion. During the same quarter last year, the firm earned $3.53 earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, sell-side analysts predict that The Allstate Corporation will post 29.99 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Monday, August 31st. Allstate’s payout ratio is currently 9.53%.

Analyst Upgrades and Downgrades

ALL has been the topic of several recent analyst reports. Zacks Research lowered Allstate from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Piper Sandler restated an “overweight” rating on shares of Allstate in a research report on Thursday, May 28th. Wells Fargo & Company lifted their target price on Allstate from $229.00 to $243.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Cantor Fitzgerald upped their target price on Allstate from $236.00 to $242.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Finally, Weiss Ratings reissued a “buy (a-)” rating on shares of Allstate in a research report on Thursday, June 18th. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Allstate has an average rating of “Moderate Buy” and an average price target of $253.05.

Insider Activity at Allstate

In related news, COO Mario Rizzo sold 18,578 shares of the business’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 value of $4,064,866.40. Following the completion of the sale, the chief operating officer owned 82,227 shares of the company’s stock, valued at approximately $17,991,267.60. The trade was a 18.43% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Andrea Redmond sold 2,225 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the transaction, the director owned 2,225 shares in the company, valued at $451,474.75. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 22,353 shares of company stock valued at $4,851,560. 1.55% of the stock is owned by corporate insiders.

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.