Plato Investment Management Ltd Takes Position in The Allstate Corporation $ALL

Plato Investment Management Ltd purchased a new position in shares of The Allstate Corporation (NYSE:ALL) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 5,669 shares of the insurance provider’s stock, valued at approximately $1,341,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. MV Capital Management Inc. acquired a new position in shares of Allstate in the fourth quarter valued at approximately $25,000. Navalign LLC acquired a new position in Allstate in the 4th quarter valued at $27,000. Kelleher Financial Advisors purchased a new position in Allstate during the 2nd quarter worth $28,000. Evolution Wealth Management Inc. lifted its stake in shares of Allstate by 7,000.0% in the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 140 shares during the period. Finally, Allied Private Wealth LLC acquired a new position in shares of Allstate during the second quarter worth about $29,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ALL has been the topic of a number of analyst reports. Wells Fargo & Company lowered Allstate from an “equal weight” rating to an “underweight” rating and lifted their price objective for the company from $243.00 to $250.00 in a report on Friday, August 7th. The Goldman Sachs Group reissued a “neutral” rating and issued a $280.00 price target on shares of Allstate in a report on Friday, August 7th. Wall Street Zen upgraded Allstate from a “hold” rating to a “buy” rating in a research note on Monday, July 20th. Keefe, Bruyette & Woods upped their price objective on Allstate from $242.00 to $255.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Finally, UBS Group increased their price objective on Allstate from $261.00 to $275.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $265.53.

Allstate Stock Performance

NYSE ALL opened at $257.88 on Tuesday. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $277.22. The company has a market capitalization of $65.21 billion, a P/E ratio of 5.15, a PEG ratio of 0.41 and a beta of 0.16. The business has a 50 day moving average price of $247.38 and a 200 day moving average price of $223.47. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.06 by $2.93. The firm had revenue of $15.43 billion during the quarter, compared to analysts’ expectations of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%.Allstate’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted $5.94 earnings per share. Sell-side analysts expect that The Allstate Corporation will post 33.92 EPS for the current fiscal year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be given a $1.08 dividend. The ex-dividend date is Monday, August 31st. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. Allstate’s payout ratio is currently 8.63%.

Insider Buying and Selling at Allstate

In other Allstate news, Director Andrea Redmond sold 2,225 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $202.91, for a total value of $451,474.75. Following the sale, the director owned 2,225 shares of the company’s stock, valued at $451,474.75. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Mario Rizzo sold 56,225 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the completion of the sale, the chief operating officer owned 82,227 shares in the company, valued at $21,747,396.96. This represents a 40.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 92,996 shares of company stock valued at $24,543,894 in the last quarter. Insiders own 1.55% of the company’s stock.

Allstate Company 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.