OLD National Bancorp IN Has $1.54 Million Stock Position in The Allstate Corporation $ALL

OLD National Bancorp IN boosted its position in The Allstate Corporation (NYSE:ALL) by 73.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,423 shares of the insurance provider’s stock after acquiring an additional 3,133 shares during the period. OLD National Bancorp IN’s holdings in Allstate were worth $1,539,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Meyer Handelman Co. grew its position in Allstate by 2.0% in the 1st quarter. Meyer Handelman Co. now owns 211,009 shares of the insurance provider’s stock valued at $43,751,000 after purchasing an additional 4,222 shares during the period. Louisiana State Employees Retirement System acquired a new position in Allstate during the first quarter worth $2,737,000. Kestra Private Wealth Services LLC lifted its stake in shares of Allstate by 10.4% in the first quarter. Kestra Private Wealth Services LLC now owns 25,292 shares of the insurance provider’s stock valued at $5,244,000 after buying an additional 2,373 shares in the last quarter. Ritholtz Wealth Management lifted its stake in shares of Allstate by 7.8% in the first quarter. Ritholtz Wealth Management now owns 15,221 shares of the insurance provider’s stock valued at $3,156,000 after buying an additional 1,096 shares in the last quarter. Finally, BTC Capital Management Inc. grew its holdings in shares of Allstate by 2.4% during the first quarter. BTC Capital Management Inc. now owns 29,495 shares of the insurance provider’s stock valued at $6,115,000 after buying an additional 701 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ALL. Keefe, Bruyette & Woods lowered shares of Allstate from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $266.00 to $242.00 in a report on Monday, June 8th. Wells Fargo & Company lifted their price target on 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. Piper Sandler reissued an “overweight” rating on shares of Allstate in a research note on Thursday, May 28th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $231.00 target price on shares of Allstate in a report on Thursday, March 5th. 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $240.33.

Allstate Trading Up 3.5%

Shares of ALL stock opened at $239.77 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 company has a market capitalization of $61.72 billion, a price-to-earnings ratio of 5.29, a PEG ratio of 0.42 and a beta of 0.18. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $240.16. The company has a 50-day simple moving average of $217.68 and a two-hundred day simple moving average of $210.10.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping the consensus estimate of $7.31 by $3.34. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The firm had revenue of $16.94 billion for the quarter, compared to analysts’ expectations of $15.24 billion. During the same quarter last year, the firm earned $3.53 EPS. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. Research analysts anticipate that The Allstate Corporation will post 29.75 EPS for the current fiscal year.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a $1.08 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $4.32 annualized dividend and a yield of 1.8%. Allstate’s payout ratio is currently 9.53%.

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 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 owned 2,225 shares in the company, valued at $451,474.75. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction 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 sale, the insider owned 27,558 shares in the company, 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. Insiders sold 22,353 shares of company stock worth $4,851,560 in the last quarter. 1.55% of the stock is currently owned by company insiders.

Allstate 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.