AustralianSuper Pty Ltd Grows Stake in The Allstate Corporation $ALL

AustralianSuper Pty Ltd lifted its stake in shares of The Allstate Corporation (NYSE:ALL) by 34.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 676,110 shares of the insurance provider’s stock after purchasing an additional 174,496 shares during the period. Allstate accounts for 0.7% of AustralianSuper Pty Ltd’s investment portfolio, making the stock its 29th biggest holding. AustralianSuper Pty Ltd owned approximately 0.26% of Allstate worth $145,127,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of ALL. Harbor Capital Advisors Inc. raised its stake in shares of Allstate by 79.7% in the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock valued at $27,000 after buying an additional 55 shares during the period. Barnes Dennig Private Wealth Management LLC raised its stake in Allstate by 112.3% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 73 shares during the period. Clearstead Trust LLC raised its stake in Allstate by 3,800.0% in the 2nd quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 152 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in Allstate by 315.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 126 shares during the last quarter. Finally, Hilltop National Bank bought a new position in Allstate during the second quarter worth about $34,000. Institutional investors own 76.47% of the company’s stock.

Insider Buying and Selling

In other news, insider Suren Gupta sold 21,871 shares of the stock in a transaction on Friday, November 21st. The shares were sold at an average price of $215.21, for a total value of $4,706,857.91. Following the transaction, the insider owned 100,646 shares of the company’s stock, valued at $21,660,025.66. This represents a 17.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have sold 48,400 shares of company stock valued at $10,313,256. 1.70% of the stock is owned by insiders.

Allstate Price Performance

Allstate stock opened at $197.50 on Thursday. The stock has a market cap of $51.68 billion, a price-to-earnings ratio of 6.39, a PEG ratio of 0.42 and a beta of 0.24. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.32. The business has a 50-day simple moving average of $205.15 and a 200 day simple moving average of $203.36. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $215.89.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share for the quarter, beating the consensus estimate of $5.48 by $5.69. Allstate had a return on equity of 35.42% and a net margin of 12.53%.The firm had revenue of $17.26 billion for the quarter, compared to analysts’ expectations of $16.59 billion. During the same quarter last year, the firm posted $3.91 EPS. The company’s revenue was up 3.8% compared to the same quarter last year. On average, research analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were given a dividend of $1.00 per share. The ex-dividend date was Monday, December 1st. This represents a $4.00 annualized dividend and a yield of 2.0%. Allstate’s payout ratio is presently 12.95%.

Wall Street Analyst Weigh In

ALL has been the topic of several research reports. Roth Mkm boosted their price target on shares of Allstate from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. JPMorgan Chase & Co. boosted their target price on shares of Allstate from $254.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allstate in a report on Wednesday, January 21st. Zacks Research lowered Allstate from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 19th. Finally, Mizuho set a $255.00 price objective on Allstate in a report on Wednesday, January 14th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $236.19.

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.