Geode Capital Management LLC Has $1.44 Billion Holdings in The Allstate Corporation $ALL

Geode Capital Management LLC increased its stake in shares of The Allstate Corporation (NYSE:ALL) by 0.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,942,041 shares of the insurance provider’s stock after purchasing an additional 3,344 shares during the period. Geode Capital Management LLC’s holdings in Allstate were worth $1,439,429,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Dorato Capital Management acquired a new stake in shares of Allstate during the fourth quarter worth $27,000. Navalign LLC acquired a new stake in shares of Allstate during the fourth quarter worth $27,000. Princeton Global Asset Management LLC grew its stake in shares of Allstate by 101.3% during the fourth quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 76 shares during the period. Palisade Asset Management LLC acquired a new stake in shares of Allstate during the third quarter worth $31,000. Finally, South Plains Financial Inc. grew its stake in shares of Allstate by 41.5% during the third quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 49 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Mario Rizzo sold 18,578 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark Q. Prindiville sold 1,550 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the transaction, the insider directly owned 27,558 shares of the company’s stock, valued at $5,959,968.66. This represents a 5.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ALL. Wells Fargo & Company lifted their price objective on Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Barclays boosted their target price on Allstate from $207.00 to $208.00 and gave the company an “underweight” rating in a research note on Wednesday, April 8th. JPMorgan Chase & Co. boosted their target price on Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Wall Street Zen cut Allstate from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Mizuho decreased their target price on Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, March 20th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $241.67.

Allstate Stock Down 0.7%

ALL stock opened at $207.46 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market capitalization of $53.40 billion, a P/E ratio of 4.58, a P/E/G ratio of 0.38 and a beta of 0.21. The business has a 50-day moving average of $212.66 and a 200-day moving average of $208.57. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $227.62.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping the consensus estimate of $7.31 by $3.34. The company had revenue of $16.94 billion during the quarter, compared to analysts’ expectations 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 in the prior year, the firm earned $3.53 earnings per share. On average, sell-side analysts anticipate that The Allstate Corporation will post 29.11 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, June 1st. Allstate’s dividend payout ratio is currently 9.53%.

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.