Intech Investment Management LLC Boosts Stake in The Allstate Corporation $ALL

Intech Investment Management LLC lifted its stake in The Allstate Corporation (NYSE:ALL) by 438.0% in the 4th quarter, HoldingsChannel reports. The firm owned 182,124 shares of the insurance provider’s stock after acquiring an additional 148,269 shares during the period. Intech Investment Management LLC’s holdings in Allstate were worth $37,909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. South Plains Financial Inc. increased its stake in shares of Allstate by 41.5% in the 3rd quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 49 shares in the last quarter. Coldstream Capital Management Inc. increased its stake in shares of Allstate by 0.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider’s stock worth $1,625,000 after purchasing an additional 50 shares in the last quarter. Humankind Investments LLC increased its stake in shares of Allstate by 4.5% in the 3rd quarter. Humankind Investments LLC now owns 1,191 shares of the insurance provider’s stock worth $256,000 after purchasing an additional 51 shares in the last quarter. Cullen Frost Bankers Inc. increased its stake in shares of Allstate by 0.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider’s stock worth $1,210,000 after purchasing an additional 52 shares in the last quarter. Finally, Howard Capital Management Inc. increased its stake in shares of Allstate by 3.2% in the 3rd quarter. Howard Capital Management Inc. now owns 1,739 shares of the insurance provider’s stock worth $373,000 after purchasing an additional 54 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Trading Down 0.7%

Shares of Allstate stock opened at $207.46 on Friday. The firm has a market cap of $53.40 billion, a price-to-earnings ratio of 4.58, a PEG ratio of 0.38 and a beta of 0.21. The business has a 50-day moving average price of $212.66 and a 200-day moving average price of $208.57. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $227.62.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. The firm had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.53 earnings per share. Equities research analysts anticipate that The Allstate Corporation will post 29.11 EPS for the current fiscal year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a dividend of $1.08 per share. The ex-dividend date is Monday, June 1st. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.1%. Allstate’s dividend payout ratio (DPR) is presently 9.53%.

Insider Transactions at Allstate

In other news, insider Mark Q. Prindiville sold 1,550 shares of the firm’s 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 transaction, the insider owned 27,558 shares in the company, valued at $5,959,968.66. This trade represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Mario Rizzo sold 18,578 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $218.80, for a total value of $4,064,866.40. Following the transaction, the chief operating officer owned 82,227 shares of the company’s stock, valued at approximately $17,991,267.60. The trade was a 18.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ALL shares. Barclays upped their price objective on Allstate from $207.00 to $208.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 8th. Raymond James Financial reiterated a “strong-buy” rating and issued a $260.00 price target on shares of Allstate in a research note on Tuesday, March 3rd. Piper Sandler reiterated an “overweight” rating on shares of Allstate in a research note on Thursday. Wall Street Zen lowered Allstate from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings upgraded Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, March 23rd. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Allstate has a consensus rating of “Moderate Buy” and an average target price of $241.67.

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.