The Allstate Corporation $ALL Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its holdings in The Allstate Corporation (NYSE:ALL) by 1.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 317,464 shares of the insurance provider’s stock after acquiring an additional 3,783 shares during the period. Principal Financial Group Inc. owned 0.12% of Allstate worth $65,823,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Allstate in the fourth quarter valued at approximately $531,294,000. GQG Partners LLC raised its position in shares of Allstate by 36.0% during the 4th quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock worth $1,142,449,000 after purchasing an additional 1,452,993 shares during the last quarter. Franklin Resources Inc. lifted its stake in Allstate by 29.2% in the 4th quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock valued at $1,042,321,000 after buying an additional 1,131,172 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Allstate by 1,766.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 869,139 shares of the insurance provider’s stock valued at $180,911,000 after buying an additional 822,583 shares during the last quarter. Finally, Woodline Partners LP acquired a new stake in Allstate during the 3rd quarter valued at $148,641,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analysts Set New Price Targets

ALL has been the subject of a number of analyst reports. Barclays boosted their price target on Allstate from $203.00 to $213.00 and gave the stock an “underweight” rating in a report on Tuesday, July 7th. HSBC cut Allstate from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $244.00 to $264.00 in a research report on Monday, July 6th. Keefe, Bruyette & Woods boosted their target price on shares of Allstate from $242.00 to $255.00 and gave the company a “market perform” rating in a research note on Wednesday, July 8th. Evercore set a $240.00 target price on shares of Allstate in a report on Friday, July 10th. Finally, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Allstate in a research note on Thursday, June 18th. Three equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Allstate currently has an average rating of “Moderate Buy” and a consensus price target of $253.05.

Allstate Stock Up 0.7%

Shares of NYSE:ALL opened at $241.19 on Friday. The stock’s 50-day moving average price is $226.55 and its two-hundred day moving average price is $214.11. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $257.67. The firm has a market cap of $62.09 billion, a price-to-earnings ratio of 5.32, a PEG ratio of 0.42 and a beta of 0.16.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 17.81% and a return on equity of 42.66%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.53 EPS. On average, research analysts forecast that The Allstate Corporation will post 29.99 EPS for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be paid a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 dividend on an annualized basis and a yield of 1.8%. Allstate’s dividend payout ratio (DPR) is currently 9.53%.

Insider Buying and Selling at Allstate

In other news, insider Mark Q. Prindiville sold 1,550 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the sale, the insider directly owned 27,558 shares of the company’s stock, valued at $5,959,968.66. The trade was a 5.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Mario Rizzo sold 18,578 shares of the company’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 approximately $17,991,267.60. The trade was a 18.43% 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 worth $4,851,560 in the last quarter. 1.55% of the stock is owned by insiders.

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.