OLD National Bancorp IN Boosts Stock Holdings in The Allstate Corporation $ALL

OLD National Bancorp IN raised its position in shares of The Allstate Corporation (NYSE:ALL) by 73.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 7,423 shares of the insurance provider’s stock after acquiring an additional 3,133 shares during the quarter. OLD National Bancorp IN’s holdings in Allstate were worth $1,539,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. MV Capital Management Inc. bought a new position in shares of Allstate during the 4th quarter worth $25,000. Dorato Capital Management bought a new stake in Allstate in the 4th quarter valued at about $27,000. Navalign LLC bought a new stake in Allstate in the 4th quarter valued at about $27,000. Princeton Global Asset Management LLC lifted its holdings in Allstate by 101.3% during the fourth quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 76 shares during the last quarter. Finally, Palisade Asset Management LLC bought a new position in Allstate during the third quarter worth about $31,000. 76.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ALL shares. Wells Fargo & Company lifted their target price on shares of Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $260.00 price objective on shares of Allstate in a report on Tuesday, March 3rd. Piper Sandler reiterated an “overweight” rating on shares of Allstate in a research note on Thursday, May 28th. The Goldman Sachs Group reissued a “neutral” rating and set a $231.00 target price on shares of Allstate in a report on Thursday, March 5th. Finally, Barclays increased their target price on Allstate from $207.00 to $208.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 8th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $240.33.

Insider Activity

In other news, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the sale, the insider owned 27,558 shares in the company, valued at approximately $5,959,968.66. This trade represents a 5.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Mario Rizzo sold 18,578 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $218.80, for a total value of $4,064,866.40. Following the transaction, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at $17,991,267.60. The trade was a 18.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 22,353 shares of company stock worth $4,851,560. 1.55% of the stock is currently owned by insiders.

Allstate Trading Up 3.5%

Allstate stock opened at $239.77 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $240.16. The stock has a market cap of $61.72 billion, a P/E ratio of 5.29, a PEG ratio of 0.42 and a beta of 0.18. The firm’s fifty day moving average price is $217.68 and its 200-day moving average price is $210.10.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same quarter last year, the company earned $3.53 earnings per share. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. Equities research analysts forecast that The Allstate Corporation will post 29.75 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a $1.08 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $4.32 annualized dividend and a dividend yield of 1.8%. Allstate’s dividend payout ratio (DPR) is presently 9.53%.

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.