Corient Private Wealth LP Takes $60.05 Million Position in The Allstate Corporation $ALL

Corient Private Wealth LP acquired a new position in shares of The Allstate Corporation (NYSE:ALL) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 252,378 shares of the insurance provider’s stock, valued at approximately $60,052,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MV Capital Management Inc. acquired a new stake in Allstate during the 4th quarter worth about $25,000. Gables Capital Management Inc. acquired a new position in shares of Allstate in the 2nd quarter valued at about $26,000. Navalign LLC acquired a new position in shares of Allstate in the 4th quarter valued at about $27,000. Kelleher Financial Advisors bought a new stake in shares of Allstate during the 2nd quarter valued at about $28,000. Finally, Evolution Wealth Management Inc. boosted its position in shares of Allstate by 7,000.0% during the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 140 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Activity

In other news, insider John E. Dugenske sold 32,996 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $269.33, for a total value of $8,886,812.68. Following the transaction, the insider owned 13,054 shares in the company, valued at $3,515,833.82. The trade was a 71.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrea Redmond sold 2,225 shares of the business’s stock in a transaction 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 completion of the transaction, the director directly owned 2,225 shares in the company, valued at approximately $451,474.75. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 91,446 shares of company stock worth $24,208,675 over the last quarter. Insiders own 1.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ALL shares. Evercore set a $240.00 target price on Allstate in a report on Friday, July 10th. Zacks Research upgraded Allstate from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th. HSBC downgraded shares of Allstate from a “buy” rating to a “hold” rating and raised their price objective for the stock from $244.00 to $264.00 in a research report on Monday, July 6th. Roth Capital set a $300.00 price objective on shares of Allstate in a research note on Thursday, August 6th. Finally, Wall Street Zen upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research report on Monday, July 20th. Four research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $265.26.

Allstate Stock Down 1.7%

Shares of NYSE:ALL opened at $257.24 on Friday. The business’s 50 day moving average is $253.33 and its 200 day moving average is $226.56. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $277.22. The stock has a market cap of $65.05 billion, a price-to-earnings ratio of 5.14, a PEG ratio of 0.40 and a beta of 0.16. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, beating analysts’ consensus estimates of $6.06 by $2.93. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The business had revenue of $18.60 billion during the quarter, compared to analyst estimates of $15.46 billion. During the same period in the prior year, the firm posted $5.94 EPS. Allstate’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, sell-side analysts forecast that The Allstate Corporation will post 34.45 earnings per share for the current fiscal year.

Allstate Announces Dividend

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

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.