9,191 Shares in The Allstate Corporation $ALL Purchased by Equitable Holdings Inc.

Equitable Holdings Inc. acquired a new position in shares of The Allstate Corporation (NYSE:ALL) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,191 shares of the insurance provider’s stock, valued at approximately $2,187,000.

Several other hedge funds have also added to or reduced their stakes in ALL. Centaurus Financial Inc. purchased a new position in Allstate in the second quarter valued at about $125,000. FSA Advisors Inc. purchased a new stake in shares of Allstate during the 2nd quarter worth approximately $511,000. Coastal Bridge Advisors LLC bought a new stake in shares of Allstate in the 2nd quarter worth approximately $4,248,000. Jefferies Financial Group Inc. bought a new stake in shares of Allstate in the 2nd quarter worth approximately $1,254,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Allstate in the second quarter valued at approximately $35,480,000. Institutional investors own 76.47% of the company’s stock.

Allstate Stock Up 1.4%

Allstate stock opened at $261.17 on Friday. The firm has a 50 day simple moving average of $254.14 and a 200 day simple moving average of $226.81. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $277.22. The firm has a market capitalization of $66.04 billion, a price-to-earnings ratio of 5.22, a P/E/G ratio of 0.39 and a beta of 0.16.

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

Allstate Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.7%. Allstate’s dividend payout ratio is 8.63%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ALL. 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 report on Monday, July 6th. Weiss Ratings cut Allstate from a “buy (a)” rating to a “buy (a-)” rating in a research report on Tuesday. Raymond James Financial reiterated a “strong-buy” rating and set a $315.00 price target on shares of Allstate in a research note on Tuesday, August 11th. Argus set a $238.00 price objective on Allstate in a report on Friday. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $280.00 price objective on shares of Allstate in a research note on Friday, August 7th. Four equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $263.90.

Insiders Place Their Bets

In other news, Director Andrea Redmond sold 2,225 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Mario Rizzo sold 56,225 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the completion of the sale, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $21,747,396.96. The trade was a 40.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 91,446 shares of company stock worth $24,208,675 in the last quarter. 1.55% of the stock is owned by company 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.