AIA Group Ltd Purchases 10,915 Shares of The Allstate Corporation $ALL

AIA Group Ltd boosted its position in shares of The Allstate Corporation (NYSE:ALL) by 479.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,190 shares of the insurance provider’s stock after acquiring an additional 10,915 shares during the period. AIA Group Ltd’s holdings in Allstate were worth $2,831,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ALL. Guerra Pan Advisors LLC increased its position in shares of Allstate by 1.5% during the second quarter. Guerra Pan Advisors LLC now owns 3,426 shares of the insurance provider’s stock worth $690,000 after purchasing an additional 49 shares in the last quarter. South Plains Financial Inc. boosted its position in shares of Allstate by 41.5% in the 3rd quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 49 shares in the last quarter. Humankind Investments LLC boosted its position in shares of Allstate by 4.5% in the 3rd quarter. Humankind Investments LLC now owns 1,191 shares of the insurance provider’s stock worth $256,000 after purchasing an additional 51 shares in the last quarter. Focus Financial Network Inc. grew its stake in Allstate by 1.1% during the 3rd quarter. Focus Financial Network Inc. now owns 4,693 shares of the insurance provider’s stock worth $1,012,000 after buying an additional 52 shares during the last quarter. Finally, L2 Asset Management LLC increased its position in Allstate by 4.8% during the 2nd quarter. L2 Asset Management LLC now owns 1,168 shares of the insurance provider’s stock valued at $235,000 after buying an additional 53 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ALL has been the subject of a number of research analyst reports. Raymond James Financial reiterated a “strong-buy” rating and issued a $260.00 price target on shares of Allstate in a research note on Tuesday, March 3rd. Cantor Fitzgerald restated a “neutral” rating and set a $220.00 price objective on shares of Allstate in a report on Thursday, February 5th. Keefe, Bruyette & Woods increased their price objective on shares of Allstate from $254.00 to $260.00 and gave the company an “outperform” rating in a research report on Tuesday, February 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Allstate in a research note on Wednesday, January 21st. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $231.00 target price on shares of Allstate in a research report on Thursday, March 5th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.88.

Allstate Trading Down 0.2%

Allstate stock opened at $203.94 on Friday. The stock has a 50-day moving average price of $204.37 and a 200 day moving average price of $204.76. The company has a market capitalization of $52.93 billion, a price-to-earnings ratio of 5.34, a price-to-earnings-growth ratio of 0.42 and a beta of 0.23. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $216.75. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, topping the consensus estimate of $8.72 by $5.59. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The company had revenue of $17.35 billion for the quarter, compared to the consensus estimate of $17.23 billion. During the same quarter in the prior year, the company earned $7.67 EPS. Allstate’s quarterly revenue was up 5.1% on a year-over-year basis. Sell-side analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 2.1%. This is a boost from Allstate’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Monday, March 2nd. Allstate’s dividend payout ratio is 11.31%.

Insider Activity

In related news, insider Suren Gupta sold 19,593 shares of the business’s stock in a transaction on 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 directly owned 100,646 shares in the company, valued at $21,135,660. The trade was a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.70% of the stock is currently owned by company insiders.

Allstate Company 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.