Mezzasalma Advisors LLC Boosts Stake in The Allstate Corporation $ALL

Mezzasalma Advisors LLC increased its holdings in The Allstate Corporation (NYSE:ALL) by 58.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,918 shares of the insurance provider’s stock after buying an additional 8,837 shares during the period. Allstate comprises about 1.1% of Mezzasalma Advisors LLC’s holdings, making the stock its 24th largest position. Mezzasalma Advisors LLC’s holdings in Allstate were worth $4,875,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Truist Financial Corp raised its holdings in Allstate by 4.7% during the third quarter. Truist Financial Corp now owns 123,461 shares of the insurance provider’s stock valued at $26,501,000 after buying an additional 5,542 shares in the last quarter. Davis Capital Management bought a new stake in Allstate during the 3rd quarter worth about $2,767,000. First Horizon Corp bought a new position in shares of Allstate in the 3rd quarter valued at about $11,109,000. Coastal Bridge Advisors LLC increased its stake in Allstate by 530.6% in the third quarter. Coastal Bridge Advisors LLC now owns 18,174 shares of the insurance provider’s stock valued at $3,901,000 after purchasing an additional 15,292 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its position in shares of Allstate by 6.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 189,718 shares of the insurance provider’s stock valued at $40,489,000 after purchasing an additional 12,225 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Up 0.0%

Shares of NYSE ALL opened at $207.10 on Monday. The business has a 50-day moving average of $206.32 and a 200-day moving average of $205.20. The Allstate Corporation has a 12 month low of $176.00 and a 12 month high of $216.75. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $53.75 billion, a price-to-earnings ratio of 5.42, a PEG ratio of 0.42 and a beta of 0.22.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, beating analysts’ consensus estimates of $8.72 by $5.59. The firm had revenue of $17.35 billion during the quarter, compared to analyst estimates of $17.23 billion. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $7.67 earnings per share. Sell-side analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 2nd were paid a dividend of $1.08 per share. This is a positive change from Allstate’s previous quarterly dividend of $1.00. The ex-dividend date was Monday, March 2nd. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.1%. Allstate’s dividend payout ratio is presently 11.31%.

Insider Activity

In related news, insider Suren Gupta sold 19,593 shares of the firm’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total value of $4,114,530.00. Following the completion of the transaction, the insider directly owned 100,646 shares of the company’s stock, valued at approximately $21,135,660. This trade represents a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ALL has been the topic of a number of analyst reports. Zacks Research upgraded Allstate from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 20th. Evercore set a $225.00 price objective on shares of Allstate in a report on Wednesday, January 7th. The Goldman Sachs Group restated a “neutral” rating and issued a $231.00 target price on shares of Allstate in a research report on Thursday, March 5th. Citigroup increased their target price on shares of Allstate from $216.00 to $221.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Finally, JPMorgan Chase & Co. increased their price target on Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Four analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $237.94.

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.