Janney Montgomery Scott LLC Acquires 26,496 Shares of The Allstate Corporation $ALL

Janney Montgomery Scott LLC raised its holdings in shares of The Allstate Corporation (NYSE:ALL) by 33.3% in the first quarter, Holdings Channel reports. The institutional investor owned 106,100 shares of the insurance provider’s stock after buying an additional 26,496 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Allstate were worth $21,999,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ALL. Brighton Jones LLC grew its position in Allstate by 60.2% in the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock worth $1,253,000 after purchasing an additional 2,443 shares during the last quarter. Revolve Wealth Partners LLC acquired a new position in shares of Allstate during the fourth quarter valued at about $231,000. WINTON GROUP Ltd acquired a new position in shares of Allstate during the second quarter valued at about $210,000. Treasurer of the State of North Carolina lifted its stake in shares of Allstate by 2.5% in the second quarter. Treasurer of the State of North Carolina now owns 123,272 shares of the insurance provider’s stock valued at $24,816,000 after buying an additional 3,051 shares during the period. Finally, Ieq Capital LLC lifted its stake in shares of Allstate by 20.1% in the second quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider’s stock valued at $7,713,000 after buying an additional 6,412 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Activity at Allstate

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 value of $4,064,866.40. Following the sale, the chief operating officer 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark Q. Prindiville sold 1,550 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 22,353 shares of company stock valued at $4,851,560 in the last 90 days. 1.55% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ALL. Barclays boosted their price target on Allstate from $207.00 to $208.00 and gave the company an “underweight” rating in a research note on Wednesday, April 8th. Piper Sandler reiterated an “overweight” rating on shares of Allstate in a research report on Thursday, May 28th. Wells Fargo & Company lifted their price objective on Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Weiss Ratings restated a “buy (a-)” rating on shares of Allstate in a research report on Thursday, June 18th. Finally, Citigroup upped their target price on Allstate from $221.00 to $226.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $240.33.

Allstate Stock Performance

NYSE:ALL opened at $237.88 on Wednesday. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $242.67. 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 firm has a market capitalization of $61.23 billion, a PE ratio of 5.25, a price-to-earnings-growth ratio of 0.43 and a beta of 0.18. The firm has a 50-day moving average price of $218.65 and a 200 day moving average price of $210.71.

Allstate (NYSE:ALL) last released 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. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the previous year, the business earned $3.53 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. Research analysts anticipate that The Allstate Corporation will post 29.75 earnings per share for the current fiscal year.

Allstate Announces Dividend

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 given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Monday, June 1st. Allstate’s dividend payout ratio (DPR) is 9.53%.

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.