MidFirst Bank Takes Position in The Allstate Corporation $ALL

MidFirst Bank acquired a new position in shares of The Allstate Corporation (NYSE:ALL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,183 shares of the insurance provider’s stock, valued at approximately $2,120,000.

Several other institutional investors also recently modified their holdings of ALL. Astoria Portfolio Advisors LLC. raised its stake in Allstate by 58.0% in the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,354 shares of the insurance provider’s stock valued at $485,000 after purchasing an additional 864 shares in the last quarter. SG Trading Solutions LLC bought a new position in shares of Allstate in the 4th quarter worth $1,240,000. Pacer Advisors Inc. increased its holdings in shares of Allstate by 16.2% in the 4th quarter. Pacer Advisors Inc. now owns 32,301 shares of the insurance provider’s stock worth $6,723,000 after buying an additional 4,494 shares during the last quarter. Kera Capital Partners Inc. purchased a new stake in shares of Allstate during the 4th quarter valued at $202,000. Finally, MV Capital Management Inc. bought a new stake in shares of Allstate during the 4th quarter worth $25,000. 76.47% of the stock is currently owned by institutional investors.

Allstate Price Performance

ALL stock opened at $220.72 on Friday. 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 $227.62. The firm’s fifty day moving average is $215.78 and its 200 day moving average is $209.15. The firm has a market cap of $56.82 billion, a P/E ratio of 4.87, a P/E/G ratio of 0.40 and a beta of 0.18.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. The company 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 firm’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.53 EPS. Research analysts predict that The Allstate Corporation will post 29.43 earnings per share for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $1.08 dividend. The ex-dividend date is Monday, June 1st. This represents a $4.32 annualized dividend and a dividend yield of 2.0%. Allstate’s payout ratio is currently 9.53%.

Insider Transactions at Allstate

In other Allstate news, Director Andrea Redmond sold 2,225 shares of Allstate stock in a transaction that occurred 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 transaction, the director directly owned 2,225 shares of the company’s stock, valued at $451,474.75. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the transaction, the insider directly owned 27,558 shares in the company, valued at $5,959,968.66. This trade represents 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 worth $4,851,560. Company insiders own 1.55% of the company’s stock.

Analysts Set New Price Targets

ALL has been the subject of several research reports. Wall Street Zen lowered shares of Allstate from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings raised Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, March 23rd. Wells Fargo & Company upped their price objective on Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Piper Sandler reiterated an “overweight” rating on shares of Allstate in a research report on Thursday, May 28th. Finally, Barclays raised their price objective on Allstate from $207.00 to $208.00 and gave the company an “underweight” rating in a report on Wednesday, April 8th. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $240.33.

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.