CenterBook Partners LP Takes Position in The Allstate Corporation $ALL

CenterBook Partners LP acquired a new stake in The Allstate Corporation (NYSE:ALL) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 7,527 shares of the insurance provider’s stock, valued at approximately $1,567,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in Allstate by 0.7% in the 3rd quarter. State Street Corp now owns 11,859,517 shares of the insurance provider’s stock valued at $2,557,362,000 after purchasing an additional 85,468 shares during the last quarter. Boston Partners raised its stake in Allstate by 14.9% in the 3rd quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock valued at $654,652,000 after purchasing an additional 395,195 shares during the last quarter. Raymond James Financial Inc. raised its stake in Allstate by 3.3% in the 2nd quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider’s stock valued at $562,388,000 after purchasing an additional 88,620 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Allstate by 18.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,606,451 shares of the insurance provider’s stock valued at $559,435,000 after purchasing an additional 401,700 shares during the last quarter. Finally, Norges Bank acquired a new position in Allstate in the 4th quarter valued at $531,294,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Stock Up 0.9%

Shares of ALL opened at $216.95 on Wednesday. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $227.62. The company has a market capitalization of $55.85 billion, a PE ratio of 4.79, a price-to-earnings-growth ratio of 0.38 and a beta of 0.18. The stock has a fifty day simple moving average of $213.75 and a two-hundred day simple moving average of $208.73. 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 issued its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The business had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. During the same period last year, the company earned $3.53 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities analysts forecast that The Allstate Corporation will post 29.43 EPS for the current year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st 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 2.0%. The ex-dividend date of this dividend is Monday, June 1st. Allstate’s dividend payout ratio (DPR) is presently 9.53%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Weiss Ratings raised Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, March 23rd. Barclays increased their price objective on Allstate from $207.00 to $208.00 and gave the company an “underweight” rating in a research note on Wednesday, April 8th. Piper Sandler reissued an “overweight” rating on shares of Allstate in a research note on Thursday, May 28th. Keefe, Bruyette & Woods downgraded Allstate from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $266.00 to $242.00 in a research note on Monday. Finally, Mizuho cut 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 analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $240.33.

Insider Buying and Selling

In related news, insider Mark Q. Prindiville sold 1,550 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the sale, the insider directly owned 27,558 shares of the company’s stock, valued at approximately $5,959,968.66. This trade represents a 5.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Mario Rizzo sold 18,578 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $218.80, for a total value 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. The trade was a 18.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 22,353 shares of company stock valued at $4,851,560. 1.55% of the stock is currently owned by insiders.

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.