6,114 Shares in The Allstate Corporation $ALL Acquired by Bank OZK

Bank OZK acquired a new stake in The Allstate Corporation (NYSE:ALL) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 6,114 shares of the insurance provider’s stock, valued at approximately $1,455,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Allstate in the second quarter valued at about $5,439,448,000. Bank of America Corp DE purchased a new position in shares of Allstate in the second quarter worth about $1,410,362,000. GQG Partners LLC purchased a new position in shares of Allstate in the second quarter worth about $1,245,710,000. Deutsche Bank AG acquired a new position in Allstate during the second quarter worth about $1,008,648,000. Finally, Norges Bank acquired a new position in Allstate during the fourth quarter worth about $531,294,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insider Buying and Selling at Allstate

In related news, COO Mario Rizzo sold 56,225 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the transaction, the chief operating officer owned 82,227 shares of the company’s stock, valued at $21,747,396.96. This trade represents a 40.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider John E. Dugenske sold 32,996 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $269.33, for a total value of $8,886,812.68. Following the completion of the transaction, the insider owned 13,054 shares in the company, valued at $3,515,833.82. This trade represents a 71.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 91,446 shares of company stock worth $24,208,675. 1.55% of the stock is owned by company insiders.

Allstate Stock Down 1.7%

Shares of NYSE ALL opened at $257.24 on Friday. The business has a 50-day moving average of $253.33 and a two-hundred day moving average of $226.56. The company has a market capitalization of $65.05 billion, a price-to-earnings ratio of 5.14, a price-to-earnings-growth ratio of 0.40 and a beta of 0.16. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $277.22. 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 announced its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, topping the consensus estimate of $6.06 by $2.93. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The firm had revenue of $18.60 billion for the quarter, compared to analyst estimates of $15.46 billion. During the same period last year, the business earned $5.94 EPS. Allstate’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, analysts forecast that The Allstate Corporation will post 34.45 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Monday, August 31st. Allstate’s dividend payout ratio (DPR) is presently 8.63%.

Analyst Ratings Changes

ALL has been the subject of a number of analyst reports. Piper Sandler upped their price objective on shares of Allstate from $268.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, August 10th. UBS Group upped their price target on Allstate from $261.00 to $275.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Citigroup cut Allstate from a “neutral” rating to a “sell” rating and increased their price target for the stock from $226.00 to $240.00 in a report on Tuesday, August 11th. Zacks Research raised Allstate from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. Finally, Wells Fargo & Company cut shares of Allstate from an “equal weight” rating to an “underweight” rating and upped their target price for the company from $243.00 to $250.00 in a research report on Friday, August 7th. Four analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, Allstate has a consensus rating of “Hold” and an average price target of $265.26.

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.