UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 78,458 Shares of The Allstate Corporation $ALL

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of The Allstate Corporation (NYSE:ALL) by 3.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,167,998 shares of the insurance provider’s stock after selling 78,458 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.86% of Allstate worth $515,853,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Gables Capital Management Inc. purchased a new position in shares of Allstate in the second quarter valued at about $26,000. Allied Private Wealth LLC purchased a new stake in shares of Allstate during the second quarter worth about $29,000. Kelleher Financial Advisors bought a new stake in shares of Allstate in the second quarter worth about $28,000. MV Capital Management Inc. bought a new stake in shares of Allstate in the fourth quarter worth about $25,000. Finally, Navalign LLC purchased a new position in Allstate during the 4th quarter valued at about $27,000. Institutional investors own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ALL. Wall Street Zen raised Allstate from a “hold” rating to a “buy” rating in a research report on Monday, July 20th. Roth Capital set a $300.00 target price on Allstate in a research note on Thursday, August 6th. Wells Fargo & Company downgraded Allstate from an “equal weight” rating to an “underweight” rating and upped their target price for the company from $243.00 to $250.00 in a report on Friday, August 7th. Piper Sandler raised their price target on Allstate from $268.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, August 10th. Finally, Evercore set a $240.00 price target on shares of Allstate in a report on Friday, July 10th. Four investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $263.90.

Allstate Stock Up 0.2%

Shares of Allstate stock opened at $261.17 on Monday. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $277.22. The firm has a market cap of $66.04 billion, a price-to-earnings ratio of 5.22, a PEG ratio of 0.40 and a beta of 0.16. The company has a 50-day moving average of $254.14 and a 200 day moving average of $227.00. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, topping the consensus estimate 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%. Allstate’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.94 earnings per share. As a group, sell-side analysts anticipate that The Allstate Corporation will post 34.45 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors 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 annualized dividend and a dividend yield of 1.7%. Allstate’s dividend payout ratio is presently 8.63%.

Insider Buying and Selling

In other Allstate news, COO Mario Rizzo sold 56,225 shares of Allstate stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the completion of the transaction, the chief operating officer owned 82,227 shares in the company, valued at approximately $21,747,396.96. The trade was a 40.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John E. Dugenske sold 32,996 shares of Allstate stock in a transaction on Friday, August 7th. The shares were sold at an average price of $269.33, for a total value of $8,886,812.68. Following the transaction, the insider 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 SEC filing for this sale provides additional information. 1.55% of the stock is owned by company insiders.

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.