MidFirst Bank Purchases Shares of 10,183 The Allstate Corporation $ALL

MidFirst Bank purchased a new position in The Allstate Corporation (NYSE:ALL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,183 shares of the insurance provider’s stock, valued at approximately $2,120,000.

A number of other hedge funds have also recently modified their holdings of the company. State Street Corp grew its stake in shares of Allstate by 3.7% in the fourth quarter. State Street Corp now owns 12,297,551 shares of the insurance provider’s stock worth $2,571,600,000 after purchasing an additional 438,034 shares during the last quarter. GQG Partners LLC increased its holdings in Allstate by 36.0% during the 4th quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock valued at $1,142,449,000 after purchasing an additional 1,452,993 shares during the period. Franklin Resources Inc. raised its position in Allstate by 29.2% during the 4th quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock valued at $1,042,321,000 after purchasing an additional 1,131,172 shares during the last quarter. Boston Partners raised its position in Allstate by 14.9% during the 3rd quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock valued at $654,652,000 after purchasing an additional 395,195 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in Allstate by 3.3% in the 2nd quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider’s stock worth $562,388,000 after buying an additional 88,620 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Stock Down 0.4%

Shares of NYSE:ALL opened at $220.72 on Friday. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $227.62. The firm has a market capitalization of $56.82 billion, a P/E ratio of 4.87, a P/E/G ratio of 0.40 and a beta of 0.18. The stock has a 50 day moving average price of $215.78 and a 200-day moving average price of $209.15. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping the consensus estimate of $7.31 by $3.34. The company had revenue of $16.94 billion for the quarter, compared to analysts’ expectations of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $3.53 earnings per share. As a group, equities research analysts anticipate that The Allstate Corporation will post 29.43 EPS for the current fiscal year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a $1.08 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.0%. Allstate’s dividend payout ratio is currently 9.53%.

Analysts Set New Price Targets

ALL has been the topic of a number of recent analyst reports. Citigroup lifted their price objective on Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Wall Street Zen lowered Allstate from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. The Goldman Sachs Group reiterated a “neutral” rating and issued a $231.00 price target on shares of Allstate in a report on Thursday, March 5th. Raymond James Financial reissued a “strong-buy” rating and set a $260.00 price objective on shares of Allstate in a research report on Tuesday, March 3rd. Finally, Zacks Research lowered shares of Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $240.33.

Insider Transactions at Allstate

In related news, insider Mark Q. Prindiville sold 1,550 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the sale, the insider owned 27,558 shares of the company’s stock, valued at $5,959,968.66. The trade was a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Mario Rizzo sold 18,578 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the sale, the chief operating officer owned 82,227 shares in the company, valued at approximately $17,991,267.60. This trade represents a 18.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 22,353 shares of company stock valued at $4,851,560 in the last three months. 1.55% 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.