20,915 Shares in The Allstate Corporation $ALL Purchased by Johnson Financial Group Inc.

Johnson Financial Group Inc. bought a new position in The Allstate Corporation (NYSE:ALL) during the second quarter, Holdings Channel.com reports. The institutional investor bought 20,915 shares of the insurance provider’s stock, valued at approximately $4,999,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Allstate during the second quarter worth about $5,439,448,000. State Street Corp raised its stake in Allstate by 3.7% in the fourth quarter. State Street Corp now owns 12,297,551 shares of the insurance provider’s stock valued at $2,571,600,000 after purchasing an additional 438,034 shares in the last quarter. Bank of America Corp DE lifted its position in Allstate by 8.1% during the first quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock valued at $1,640,748,000 after purchasing an additional 596,321 shares during the last quarter. GQG Partners LLC lifted its position in Allstate by 36.0% during the fourth quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock valued at $1,142,449,000 after purchasing an additional 1,452,993 shares during the last quarter. Finally, Franklin Resources Inc. grew 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 worth $1,042,321,000 after buying an additional 1,131,172 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

ALL has been the topic of a number of research analyst reports. Morgan Stanley set a $265.00 price target on shares of Allstate in a report on Tuesday, August 11th. Atlantic Securities set a $319.00 target price on shares of Allstate in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods increased their target price on Allstate from $242.00 to $255.00 and gave the company a “market perform” rating in a research note on Wednesday, July 8th. Barclays raised their price target on Allstate from $213.00 to $226.00 and gave the company an “underweight” rating in a research report on Thursday, August 6th. Finally, UBS Group lifted their price target on Allstate from $261.00 to $275.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Four analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $265.53.

Allstate Stock Performance

Allstate stock opened at $260.24 on Thursday. The firm has a fifty day simple moving average of $249.00 and a two-hundred day simple moving average of $224.35. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $277.22. The company has a market capitalization of $65.80 billion, a PE ratio of 5.20, a P/E/G ratio of 0.40 and a beta of 0.16.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.06 by $2.93. The firm had revenue of $15.43 billion for the quarter, compared to analysts’ expectations of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period last year, the firm earned $5.94 earnings per share. Research analysts expect that The Allstate Corporation will post 34.5 EPS for the current year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be issued a dividend of $1.08 per share. The ex-dividend date is Monday, August 31st. This represents a $4.32 annualized dividend and a yield of 1.7%. Allstate’s dividend payout ratio is currently 8.63%.

Insider Buying and Selling

In other Allstate news, Director Andrea Redmond sold 2,225 shares of Allstate 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 transaction, the director directly owned 2,225 shares of the company’s stock, valued at $451,474.75. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John E. Dugenske sold 32,996 shares of the business’s stock in a transaction that occurred on 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 owned 13,054 shares of the company’s stock, valued at $3,515,833.82. The trade was a 71.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 92,996 shares of company stock valued at $24,543,894 in the last 90 days. 1.55% of the stock is owned by insiders.

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.