Jefferies Financial Group Inc. Takes Position in The Allstate Corporation $ALL

Jefferies Financial Group Inc. purchased a new position in shares of The Allstate Corporation (NYSE:ALL) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,272 shares of the insurance provider’s stock, valued at approximately $1,254,000.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Allstate in the 2nd quarter worth approximately $5,439,448,000. Bank of America Corp DE acquired a new stake in shares of Allstate during the second quarter valued at about $1,410,362,000. GQG Partners LLC purchased a new stake in Allstate during the 2nd quarter worth approximately $1,245,710,000. Deutsche Bank AG purchased a new stake in Allstate during the 2nd quarter worth approximately $1,008,648,000. Finally, Norges Bank acquired a new position in shares of Allstate in the 4th quarter valued at approximately $531,294,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ALL has been the subject of a number of research analyst reports. Roth Capital set a $300.00 price target on shares of Allstate in a research note on Thursday, August 6th. Citigroup downgraded shares of Allstate from a “neutral” rating to a “sell” rating and increased their price objective for the company from $226.00 to $240.00 in a research note on Tuesday, August 11th. Piper Sandler upped their target price on shares of Allstate from $268.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. Mizuho increased their price target on shares of Allstate from $255.00 to $272.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. Finally, Argus set a $238.00 price objective on Allstate in a report on Friday. Four analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $263.90.

Allstate Stock Up 0.2%

NYSE:ALL opened at $261.17 on Monday. The firm has a market capitalization of $66.04 billion, a PE ratio of 5.22, a price-to-earnings-growth ratio of 0.40 and a beta of 0.16. The stock has a 50 day moving average of $254.14 and a 200-day moving average of $227.00. The Allstate Corporation has a 52 week low of $188.08 and a 52 week 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.

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

Allstate Dividend Announcement

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

Insider Buying and Selling at Allstate

In related news, insider John E. Dugenske sold 32,996 shares of Allstate 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 sale, the insider directly owned 13,054 shares in the company, valued at $3,515,833.82. This trade represents a 71.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Mario Rizzo sold 56,225 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the transaction, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at $21,747,396.96. The trade was a 40.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.55% of the company’s stock.

About Allstate

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.