Glenmede Trust Co. NA Grows Stake in The Allstate Corporation $ALL

Glenmede Trust Co. NA lifted its position in The Allstate Corporation (NYSE:ALL) by 16.7% during the 1st quarter, HoldingsChannel reports. The firm owned 125,729 shares of the insurance provider’s stock after buying an additional 17,951 shares during the period. Glenmede Trust Co. NA’s holdings in Allstate were worth $26,069,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. MV Capital Management Inc. purchased a new position in Allstate during the fourth quarter worth about $25,000. Dorato Capital Management purchased a new stake in shares of Allstate in the 4th quarter valued at about $27,000. Navalign LLC bought a new stake in shares of Allstate during the 4th quarter valued at about $27,000. Evolution Wealth Management Inc. grew its holdings in shares of Allstate by 7,000.0% during the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 140 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Allstate in the first quarter worth approximately $30,000. Institutional investors own 76.47% of the company’s stock.

Analyst Ratings Changes

ALL has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their target price on shares of Allstate from $229.00 to $243.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Weiss Ratings reissued a “buy (a-)” rating on shares of Allstate in a report on Thursday, June 18th. Atlantic Securities set a $319.00 price target on shares of Allstate in a report on Wednesday, July 15th. Wall Street Zen upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research report on Monday, July 20th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Allstate from $242.00 to $255.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Three research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Allstate has an average rating of “Moderate Buy” and a consensus target price of $254.80.

Insider Buying and Selling at Allstate

In other Allstate news, Director Andrea Redmond sold 2,225 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the completion of the sale, the director directly owned 2,225 shares in the company, valued at $451,474.75. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the sale, the insider owned 27,558 shares of the company’s stock, valued at approximately $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. 1.55% of the stock is currently owned by company insiders.

Allstate Stock Performance

NYSE:ALL opened at $264.53 on Friday. The company has a market capitalization of $68.10 billion, a price-to-earnings ratio of 5.84, a PEG ratio of 0.45 and a beta of 0.16. The business has a 50 day moving average of $235.94 and a 200 day moving average of $218.05. 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 Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $277.22.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. The business had revenue of $16.94 billion for 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 quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the business earned $3.53 earnings per share. On average, sell-side analysts predict that The Allstate Corporation will post 30.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm 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 of this dividend is Monday, August 31st. This represents a $4.32 annualized dividend and a dividend yield of 1.6%. Allstate’s dividend payout ratio (DPR) is currently 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.