Aberdeen Group plc Increases Stake in The Allstate Corporation $ALL

Aberdeen Group plc raised its position in The Allstate Corporation (NYSE:ALL) by 25.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 252,151 shares of the insurance provider’s stock after acquiring an additional 50,677 shares during the period. Aberdeen Group plc owned approximately 0.10% of Allstate worth $53,274,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Avantax Advisory Services Inc. raised its stake in Allstate by 3.1% in the 2nd quarter. Avantax Advisory Services Inc. now owns 23,573 shares of the insurance provider’s stock valued at $4,745,000 after purchasing an additional 704 shares during the last quarter. Truist Financial Corp grew its holdings in shares of Allstate by 4.7% during the third quarter. Truist Financial Corp now owns 123,461 shares of the insurance provider’s stock worth $26,501,000 after buying an additional 5,542 shares in the last quarter. Commonwealth Retirement Investments LLC raised its position in shares of Allstate by 103.5% in the second quarter. Commonwealth Retirement Investments LLC now owns 12,960 shares of the insurance provider’s stock valued at $2,609,000 after buying an additional 6,590 shares during the last quarter. Davis Capital Management purchased a new position in shares of Allstate during the third quarter valued at approximately $2,767,000. Finally, First Horizon Corp acquired a new stake in Allstate during the third quarter worth approximately $11,109,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Suren Gupta sold 19,593 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the completion of the transaction, the insider owned 100,646 shares in the company, valued at approximately $21,135,660. This trade represents a 16.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold a total of 46,600 shares of company stock worth $9,926,140 over the last quarter. 1.70% of the stock is owned by insiders.

Allstate Stock Up 0.4%

Allstate stock opened at $207.41 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.43 and a current ratio of 0.37. The Allstate Corporation has a one year low of $176.00 and a one year high of $216.75. The company has a 50-day simple moving average of $203.54 and a 200-day simple moving average of $204.24. The firm has a market capitalization of $54.28 billion, a P/E ratio of 5.43, a P/E/G ratio of 0.44 and a beta of 0.24.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.72 by $5.59. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The firm had revenue of $14.57 billion during the quarter, compared to analyst estimates of $17.23 billion. During the same period in the previous year, the business posted $7.67 EPS. Allstate’s revenue was up 5.1% on a year-over-year basis. As a group, equities analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be paid a dividend of $1.08 per share. This is a boost from Allstate’s previous quarterly dividend of $1.00. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Monday, March 2nd. Allstate’s dividend payout ratio (DPR) is 10.47%.

Analysts Set New Price Targets

ALL has been the topic of a number of research analyst reports. Roth Mkm lifted their price target on shares of Allstate from $230.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. UBS Group raised their price objective on Allstate from $250.00 to $255.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Evercore set a $225.00 target price on Allstate in a report on Wednesday, January 7th. Keefe, Bruyette & Woods increased their target price on shares of Allstate from $254.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 10th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allstate in a research report on Wednesday, January 21st. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $239.35.

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.