Van Hulzen Asset Management LLC Makes New $728,000 Investment in The Allstate Corporation $ALL

Van Hulzen Asset Management LLC purchased a new position in shares of The Allstate Corporation (NYSE:ALL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,060 shares of the insurance provider’s stock, valued at approximately $728,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. MV Capital Management Inc. purchased a new stake in Allstate during the 4th quarter worth approximately $25,000. Gables Capital Management Inc. purchased a new position in Allstate in the 2nd quarter valued at approximately $26,000. Navalign LLC acquired a new position in shares of Allstate in the fourth quarter worth $27,000. Kelleher Financial Advisors acquired a new position in shares of Allstate in the second quarter worth $28,000. Finally, Evolution Wealth Management Inc. increased its position in shares of Allstate by 7,000.0% during the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 140 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ALL. Piper Sandler increased their price objective on Allstate from $268.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. Morgan Stanley set a $265.00 target price on Allstate in a research note on Tuesday, August 11th. Cantor Fitzgerald upped 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. Roth Capital set a $300.00 price target on Allstate in a research report on Thursday, August 6th. Finally, Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $250.00 price objective (down from $255.00) on shares of Allstate in a research note on Thursday, August 20th. Four research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $265.26.

Insider Transactions at Allstate

In other news, Director Andrea Redmond sold 2,225 shares of the business’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 completion of the sale, the director directly owned 2,225 shares of the company’s stock, valued at approximately $451,474.75. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John E. Dugenske sold 32,996 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $269.33, for a total value of $8,886,812.68. Following the completion of the sale, the insider directly owned 13,054 shares of the company’s stock, valued at approximately $3,515,833.82. This trade represents a 71.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 91,446 shares of company stock worth $24,208,675. Corporate insiders own 1.55% of the company’s stock.

Allstate Stock Up 2.6%

Shares of NYSE:ALL opened at $260.35 on Tuesday. The firm has a 50 day simple moving average of $251.11 and a 200-day simple moving average of $225.53. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $277.22. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $65.83 billion, a PE ratio of 5.20, a P/E/G ratio of 0.39 and a beta of 0.16.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, beating analysts’ consensus estimates of $6.06 by $2.93. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The firm had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $15.46 billion. During the same period last year, the firm posted $5.94 EPS. The company’s revenue was up 11.8% on a year-over-year basis. On average, equities analysts predict that The Allstate Corporation will post 34.45 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be issued a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. Allstate’s dividend payout ratio (DPR) is presently 8.63%.

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.