The Allstate Corporation $ALL Shares Acquired by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC lifted its stake in shares of The Allstate Corporation (NYSE:ALL) by 10.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 25,292 shares of the insurance provider’s stock after acquiring an additional 2,373 shares during the period. Kestra Private Wealth Services LLC’s holdings in Allstate were worth $5,244,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CIBC Bancorp USA Inc. purchased a new stake in Allstate in the third quarter valued at $7,814,000. Elo Mutual Pension Insurance Co increased its position in shares of Allstate by 39.6% during the 3rd quarter. Elo Mutual Pension Insurance Co now owns 40,298 shares of the insurance provider’s stock worth $8,650,000 after purchasing an additional 11,431 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Allstate by 5.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552,120 shares of the insurance provider’s stock valued at $112,533,000 after buying an additional 26,586 shares during the period. Mezzasalma Advisors LLC raised its holdings in Allstate by 58.6% in the 4th quarter. Mezzasalma Advisors LLC now owns 23,918 shares of the insurance provider’s stock valued at $4,875,000 after buying an additional 8,837 shares during the period. Finally, Meyer Handelman Co. lifted its position in Allstate by 4.8% in the fourth quarter. Meyer Handelman Co. now owns 206,787 shares of the insurance provider’s stock valued at $43,043,000 after buying an additional 9,438 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Buying and Selling

In related news, COO Mario Rizzo sold 18,578 shares of the business’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at $17,991,267.60. The trade was a 18.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 sale, the director owned 2,225 shares in the company, valued at approximately $451,474.75. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 22,353 shares of company stock valued at $4,851,560 in the last three months. 1.55% of the stock is owned by corporate insiders.

Allstate Price Performance

Shares of ALL opened at $239.77 on Friday. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $240.16. The firm’s 50 day moving average price is $217.68 and its 200 day moving average price is $210.10. The company has a market cap of $61.72 billion, a P/E ratio of 5.29, a PEG ratio of 0.41 and a beta of 0.18. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS 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 analysts’ expectations of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $3.53 EPS. On average, research analysts forecast that The Allstate Corporation will post 29.75 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $1.08 dividend. The ex-dividend date is Monday, June 1st. This represents a $4.32 dividend on an annualized basis and a yield of 1.8%. Allstate’s dividend payout ratio (DPR) is 9.53%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ALL. Keefe, Bruyette & Woods cut shares of Allstate from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $266.00 to $242.00 in a research report on Monday, June 8th. Mizuho lowered their price objective on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. Raymond James Financial reissued a “strong-buy” rating and issued a $260.00 target price on shares of Allstate in a research report on Tuesday, March 3rd. Barclays upped their price target on Allstate from $207.00 to $208.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 8th. Finally, Piper Sandler restated an “overweight” rating on shares of Allstate in a research report on Thursday, May 28th. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $240.33.

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.