Vise Technologies Inc. Grows Stake in The Allstate Corporation $ALL

Vise Technologies Inc. raised its stake in The Allstate Corporation (NYSE:ALL) by 111.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,484 shares of the insurance provider’s stock after purchasing an additional 5,516 shares during the quarter. Vise Technologies Inc.’s holdings in Allstate were worth $2,182,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Navalign LLC purchased a new position in Allstate in the fourth quarter valued at about $27,000. Dorato Capital Management purchased a new position in Allstate in the fourth quarter valued at about $27,000. Palisade Asset Management LLC purchased a new position in Allstate in the third quarter valued at about $31,000. Princeton Global Asset Management LLC raised its position in Allstate by 101.3% in 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 period. Finally, South Plains Financial Inc. raised its position in Allstate by 41.5% in the third quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 49 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on ALL. Barclays raised their price objective on Allstate from $207.00 to $208.00 and gave the company an “underweight” rating in a research report on Wednesday, April 8th. Piper Sandler reissued an “overweight” rating on shares of Allstate in a research report on Thursday, May 28th. Wall Street Zen lowered Allstate from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Keefe, Bruyette & Woods raised their target price on Allstate from $260.00 to $266.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Finally, Mizuho lowered their target price on Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, March 20th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $241.67.

Insider Buying and Selling

In related 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 value of $335,218.50. Following the completion of the transaction, the insider directly owned 27,558 shares in the company, valued at approximately $5,959,968.66. This trade represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Mario Rizzo sold 18,578 shares of Allstate 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 completion of the transaction, the chief operating officer owned 82,227 shares of the company’s stock, valued at $17,991,267.60. This trade represents a 18.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 22,353 shares of company stock worth $4,851,560. Corporate insiders own 1.55% of the company’s stock.

Allstate Stock Up 4.8%

Shares of Allstate stock opened at $220.98 on Friday. The business has a 50-day moving average of $213.31 and a 200-day moving average of $208.65. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36. The company has a market capitalization of $56.88 billion, a PE ratio of 4.87, a P/E/G ratio of 0.40 and a beta of 0.18. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $227.62.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating the consensus estimate of $7.31 by $3.34. The company had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $3.53 earnings per share. As a group, equities analysts forecast that The Allstate Corporation will post 29.43 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Monday, June 1st. Allstate’s dividend payout ratio (DPR) is 9.53%.

Allstate Company 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.