Citizens National Bank Trust Department Purchases New Shares in The Allstate Corporation $ALL

Citizens National Bank Trust Department acquired a new stake in The Allstate Corporation (NYSE:ALL) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,862 shares of the insurance provider’s stock, valued at approximately $1,008,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. State Street Corp raised its holdings in shares of 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 buying an additional 438,034 shares during the last quarter. GQG Partners LLC grew its holdings in Allstate by 36.0% during the 4th quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock worth $1,142,449,000 after acquiring an additional 1,452,993 shares during the last quarter. Franklin Resources Inc. grew its holdings in Allstate by 29.2% during the 4th quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock worth $1,042,321,000 after acquiring an additional 1,131,172 shares during the last quarter. Boston Partners increased its position 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 acquiring an additional 395,195 shares in the last quarter. Finally, Raymond James Financial Inc. raised its stake in shares of Allstate by 3.3% in the second quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider’s stock worth $562,388,000 after acquiring an additional 88,620 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Key Headlines Impacting Allstate

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Mizuho raised its price target on Allstate to $272 from $255 and kept an outperform rating, signaling confidence that the stock still has upside from recent levels.
• Positive Sentiment: Several recent articles argued that Allstate looks undervalued after earnings and may benefit from a relatively favorable catastrophe year, which could help underwriting results and profits.
• Neutral Sentiment: Allstate declared a quarterly dividend of $1.08 per share, reinforcing shareholder returns but not necessarily changing the near-term trading story.
• Neutral Sentiment: Comparative coverage versus Progressive and other insurance peers kept attention on Allstate’s valuation, but this was more of a relative-stock discussion than a direct catalyst.
• Negative Sentiment: Oklahoma Attorney General Gentner Drummond sued Allstate, alleging the insurer defrauded customers, adding a fresh legal overhang that could raise compliance and settlement concerns. Article Title
• Negative Sentiment: Allstate also drew attention after accusing Broadcom of auditing it because it ended its VMware/CA relationship, another sign of ongoing legal or contractual friction. Article Title

Analyst Ratings Changes

ALL has been the topic of a number of research reports. Wall Street Zen lowered shares of Allstate from a “buy” rating to a “hold” rating in a research report on Sunday. Morgan Stanley raised their price target on shares of Allstate from $215.00 to $240.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. Citigroup upped their price objective on Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. HSBC lowered Allstate from a “buy” rating to a “hold” rating and increased their price objective for the company from $244.00 to $264.00 in a research report on Monday, July 6th. Finally, Zacks Research lowered Allstate from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Allstate presently has an average rating of “Moderate Buy” and a consensus target price of $248.26.

Insider Buying and Selling at Allstate

In other Allstate news, 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 transaction of $4,064,866.40. Following the transaction, the chief operating officer owned 82,227 shares in the company, valued at approximately $17,991,267.60. This trade represents a 18.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of the business’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 owned 27,558 shares of the company’s stock, valued at $5,959,968.66. The trade was a 5.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 22,353 shares of company stock valued at $4,851,560. 1.55% of the stock is currently owned by company insiders.

Allstate Price Performance

Shares of ALL stock opened at $251.64 on Monday. The firm’s 50 day moving average price is $224.15 and its two-hundred day moving average price is $213.04. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $257.67. The stock has a market cap of $64.78 billion, a PE ratio of 5.55, a PEG ratio of 0.44 and a beta of 0.16.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, beating 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 net margin of 17.81% and a return on equity of 42.66%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.53 EPS. As a group, analysts forecast that The Allstate Corporation will post 29.99 EPS for the current year.

Allstate Announces Dividend

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. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 annualized dividend and a yield of 1.7%. Allstate’s dividend payout ratio is presently 9.53%.

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.