Triad Investment Management Invests $414,000 in The Allstate Corporation $ALL

Triad Investment Management purchased a new stake in The Allstate Corporation (NYSE:ALL) during the first quarter, HoldingsChannel reports. The institutional investor purchased 2,001 shares of the insurance provider’s stock, valued at approximately $414,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in Allstate in the fourth quarter valued at approximately $531,294,000. GQG Partners LLC increased its holdings in shares of Allstate by 36.0% during the fourth quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock worth $1,142,449,000 after buying an additional 1,452,993 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of 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 acquiring an additional 1,131,172 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Allstate by 1,766.9% in 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 acquiring an additional 822,583 shares during the last quarter. Finally, Woodline Partners LP acquired a new stake in shares of Allstate during the 3rd quarter valued at $148,641,000. 76.47% of the stock is owned by institutional investors.

Allstate Stock Performance

NYSE ALL opened at $251.64 on Wednesday. The company has a market capitalization of $64.78 billion, a price-to-earnings ratio of 5.55, a PEG ratio of 0.44 and a beta of 0.16. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $257.67. The stock has a fifty day simple moving average of $228.81 and a 200 day simple moving average of $215.02. 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 announced its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.31 by $3.34. The business 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%.Allstate’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the company earned $3.53 EPS. Sell-side analysts expect that The Allstate Corporation will post 30.51 EPS for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate’s dividend payout ratio (DPR) is 9.53%.

Insider Transactions at Allstate

In related news, Director Andrea Redmond sold 2,225 shares of the company’s stock in a transaction that occurred on 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 directly owned 2,225 shares in the company, valued at $451,474.75. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Mario Rizzo sold 18,578 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the sale, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at $17,991,267.60. This represents a 18.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 22,353 shares of company stock worth $4,851,560 over the last ninety days. 1.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ALL shares. Zacks Research lowered Allstate from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Barclays increased their target price on Allstate from $203.00 to $213.00 and gave the company an “underweight” rating in a research report on Tuesday, July 7th. Wells Fargo & Company lifted their price target on Allstate from $229.00 to $243.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Cantor Fitzgerald boosted their price target on Allstate from $236.00 to $242.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Finally, JPMorgan Chase & Co. upped their price objective on Allstate from $263.00 to $282.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Three investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and an average price target of $254.80.

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.