243,600 Shares in The Allstate Corporation $ALL Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in The Allstate Corporation (NYSE:ALL) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 243,600 shares of the insurance provider’s stock, valued at approximately $57,962,000.

Several other hedge funds have also bought and sold shares of the stock. MV Capital Management Inc. purchased a new position in shares of Allstate during the 4th quarter valued at approximately $25,000. Gables Capital Management Inc. purchased a new stake in Allstate during the second quarter worth $26,000. Navalign LLC purchased a new stake in Allstate during the fourth quarter worth $27,000. Kelleher Financial Advisors acquired a new stake in Allstate during the second quarter valued at $28,000. Finally, Evolution Wealth Management Inc. increased its holdings in 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 buying an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Trending Headlines about Allstate

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Allstate is included among insurers using artificial intelligence, data and technology to improve operating efficiency, underwriting and growth, which could support long-term margins and competitiveness. 3 Insurers to Add to Portfolio as AI Transforms Insurance Operations
• Positive Sentiment: A review of Allstate’s financial strength and earnings outlook suggests the company may merit renewed investor consideration, reinforcing the case for its profitability and balance-sheet position. Affirmed Financial Strength And Earnings Outlook Might Change The Case For Investing In Allstate
• Positive Sentiment: Allstate is highlighted as a value-oriented property-and-casualty insurer with premium growth, underwriting discipline and investment-portfolio gains. 3 P&C Insurers to Add for Better Returns in Sluggish September
• Positive Sentiment: Allstate is listed among low-beta, dividend-paying stocks that could offer defensive characteristics during September volatility, with improving earnings estimates cited as a supporting factor. Buy 5 Stocks to Stay Safe in Wall Street’s Historically Worst Month
• Neutral Sentiment: Comparisons with Tokio Marine focus on relative valuation and value-investing characteristics rather than a new company-specific catalyst. ALL or TKOMY: Which Is the Better Value Stock Right Now?
• Neutral Sentiment: An Allstate driving-safety report ranking for Wichita provides local auto-insurance context but does not materially change the company’s financial outlook. How bad or good are Wichita drivers? See how the city ranks in Allstate report
• Negative Sentiment: Allstate shares have declined since the latest earnings report, prompting questions about whether the stock can rebound despite the company’s stronger-than-expected results. Allstate Down 4.4% Since Last Earnings Report: Can It Rebound?
• Negative Sentiment: A report that Tyler Perry paid an 81-year-old woman’s $18,000 repair bill after Allstate denied her claim could create reputational risk and renewed scrutiny of claims-handling practices, although it appears to be an isolated customer dispute. Tyler Perry pays 81-year-old woman’s $18K repair bill after Allstate denies claim

Allstate Stock Down 0.1%

Shares of NYSE ALL opened at $259.43 on Monday. The company’s 50-day simple moving average is $256.91 and its 200-day simple moving average is $228.91. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $277.22. The firm has a market cap of $65.60 billion, a price-to-earnings ratio of 5.18, a price-to-earnings-growth ratio of 0.58 and a beta of 0.15. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, topping the consensus estimate of $6.06 by $2.93. The firm had revenue of $18.60 billion during the quarter, compared to the consensus estimate of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.94 EPS. Equities analysts predict that The Allstate Corporation will post 35.5 EPS for the current fiscal year.

Allstate Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. HSBC downgraded shares of Allstate from a “buy” rating to a “hold” rating and upped their price objective for the stock from $244.00 to $264.00 in a research report on Monday, July 6th. JPMorgan Chase & Co. lifted their price target on Allstate from $282.00 to $292.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Roth Capital set a $300.00 price target on Allstate in a report on Thursday, August 6th. Raymond James Financial reiterated a “strong-buy” rating and set a $315.00 price target on shares of Allstate in a research report on Tuesday, August 11th. Finally, Atlantic Securities set a $319.00 price objective on Allstate in a report on Wednesday, July 15th. Four investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, Allstate presently has a consensus rating of “Hold” and an average target price of $263.90.

Insider Buying and Selling

In related news, insider John E. Dugenske sold 32,996 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the completion of the sale, the insider directly owned 13,054 shares in the company, valued at approximately $3,515,833.82. The trade was a 71.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Mario Rizzo sold 56,225 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total value of $14,870,388.00. Following the completion of the transaction, the chief operating officer owned 82,227 shares in the company, valued at $21,747,396.96. The trade was a 40.61% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.55% of the stock is owned by corporate insiders.

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.