Polianta Ltd Makes New $1.42 Million Investment in The Allstate Corporation $ALL

Polianta Ltd purchased a new stake in shares of The Allstate Corporation (NYSE:ALL) during the fourth quarter, Holdings Channel.com reports. The fund purchased 6,800 shares of the insurance provider’s stock, valued at approximately $1,415,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Truist Financial Corp boosted its position in Allstate by 4.7% during the third quarter. Truist Financial Corp now owns 123,461 shares of the insurance provider’s stock worth $26,501,000 after purchasing an additional 5,542 shares during the period. Davis Capital Management bought a new stake in shares of Allstate in the third quarter valued at approximately $2,767,000. First Horizon Corp bought a new stake in shares of Allstate in the third quarter valued at approximately $11,109,000. McGowan Group Asset Management Inc. lifted its stake in shares of Allstate by 1,020.8% during the 2nd quarter. McGowan Group Asset Management Inc. now owns 34,666 shares of the insurance provider’s stock valued at $6,979,000 after buying an additional 31,573 shares in the last quarter. Finally, Coastal Bridge Advisors LLC boosted its holdings in Allstate by 530.6% in the 3rd quarter. Coastal Bridge Advisors LLC now owns 18,174 shares of the insurance provider’s stock worth $3,901,000 after buying an additional 15,292 shares during the period. Institutional investors own 76.47% of the company’s stock.

Insider Buying and Selling

In related news, insider Suren Gupta sold 19,593 shares of the business’s stock in a transaction dated Wednesday, January 7th. The stock was 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is currently owned by insiders.

Allstate Stock Performance

Allstate stock opened at $207.12 on Tuesday. The Allstate Corporation has a 1-year low of $176.00 and a 1-year high of $216.75. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $53.76 billion, a PE ratio of 5.42, a price-to-earnings-growth ratio of 0.41 and a beta of 0.23. The firm’s 50 day simple moving average is $205.33 and its 200 day simple moving average is $204.95.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 EPS for the quarter, beating the consensus estimate of $8.72 by $5.59. The firm had revenue of $17.35 billion during the quarter, compared to the consensus estimate of $17.23 billion. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the firm earned $7.67 EPS. As a group, analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

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

Wall Street Analysts Forecast Growth

ALL has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on shares of Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $215.00 price target (down from $245.00) on shares of Allstate in a report on Tuesday, December 16th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $231.00 price target on shares of Allstate in a research report on Thursday, March 5th. Keefe, Bruyette & Woods boosted their price objective on Allstate from $254.00 to $260.00 and gave the company an “outperform” rating in a research note on Tuesday, February 10th. Finally, TD Cowen cut Allstate from a “buy” rating to a “hold” rating in a report on Monday, January 12th. Four analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $237.94.

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.