9,191 Shares in The Allstate Corporation $ALL Bought by Equitable Holdings Inc.

Equitable Holdings Inc. acquired a new stake in shares of The Allstate Corporation (NYSE:ALL) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 9,191 shares of the insurance provider’s stock, valued at approximately $2,187,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ALL. Strategic Global Advisors LLC acquired a new stake in shares of Allstate during the second quarter worth about $11,680,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Allstate by 5.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552,120 shares of the insurance provider’s stock valued at $112,533,000 after purchasing an additional 26,586 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in Allstate during the 2nd quarter worth approximately $6,861,000. Elevation Point Wealth Partners LLC increased its stake in Allstate by 130.9% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 19,288 shares of the insurance provider’s stock worth $4,016,000 after buying an additional 10,936 shares during the period. Finally, Bank of America Corp DE lifted its holdings in Allstate by 8.1% during the 1st quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock worth $1,640,748,000 after buying an additional 596,321 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ALL has been the subject of several recent research reports. Barclays raised their price target on shares of Allstate from $213.00 to $226.00 and gave the company an “underweight” rating in a research report on Thursday, August 6th. Evercore set a $240.00 price objective on Allstate in a research report on Friday, July 10th. Piper Sandler increased their price objective on Allstate from $268.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. Roth Capital set a $300.00 target price on Allstate in a report on Thursday, August 6th. Finally, Wells Fargo & Company cut Allstate from an “equal weight” rating to an “underweight” rating and boosted their target price for the stock from $243.00 to $250.00 in a research note on Friday, August 7th. Four equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $263.90.

Allstate Stock Up 1.4%

Shares of Allstate stock opened at $261.17 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $277.22. The company has a market capitalization of $66.04 billion, a P/E ratio of 5.22, a P/E/G ratio of 0.39 and a beta of 0.16. The company has a 50 day moving average of $254.14 and a 200 day moving average of $226.81.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, beating analysts’ consensus estimates of $6.06 by $2.93. The business had revenue of $18.60 billion for the quarter, compared to analyst estimates of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The company’s revenue was up 11.8% on a year-over-year basis. During the same period last year, the business earned $5.94 EPS. As a group, research analysts forecast that The Allstate Corporation will post 34.45 EPS for the current fiscal year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be paid a $1.08 dividend. The ex-dividend date is Monday, August 31st. This represents a $4.32 dividend on an annualized basis and a yield of 1.7%. Allstate’s dividend payout ratio (DPR) is currently 8.63%.

Insiders Place Their Bets

In other Allstate news, insider John E. Dugenske sold 32,996 shares of Allstate stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the completion of the sale, the insider directly owned 13,054 shares of the company’s stock, valued at $3,515,833.82. The trade was a 71.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Andrea Redmond sold 2,225 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $202.91, for a total value of $451,474.75. Following the transaction, the director directly owned 2,225 shares of the company’s stock, valued at approximately $451,474.75. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 91,446 shares of company stock valued at $24,208,675 in the last ninety days. Insiders own 1.55% of the company’s stock.

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.