Hsbc Holdings PLC Increases Stake in The Allstate Co. (NYSE:ALL)

Hsbc Holdings PLC grew its position in The Allstate Co. (NYSE:ALL) by 3.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,007,953 shares of the insurance provider’s stock after acquiring an additional 31,789 shares during the quarter. Hsbc Holdings PLC owned about 0.38% of Allstate worth $160,948,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SageView Advisory Group LLC purchased a new stake in shares of Allstate in the fourth quarter valued at $456,000. Rafferty Asset Management LLC grew its stake in Allstate by 5.7% in the 4th quarter. Rafferty Asset Management LLC now owns 92,753 shares of the insurance provider’s stock worth $12,984,000 after acquiring an additional 4,987 shares in the last quarter. Lighthouse Investment Partners LLC purchased a new position in shares of Allstate during the fourth quarter worth approximately $5,927,000. BDF Gestion bought a new stake in shares of Allstate during the second quarter valued at approximately $3,051,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Allstate by 55.8% in the first quarter. BNP Paribas Financial Markets now owns 218,629 shares of the insurance provider’s stock valued at $37,825,000 after purchasing an additional 78,316 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wells Fargo & Company reduced their price objective on Allstate from $177.00 to $175.00 and set an “equal weight” rating on the stock in a report on Friday, August 16th. JPMorgan Chase & Co. lifted their target price on Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Keefe, Bruyette & Woods lifted their target price on Allstate from $199.00 to $208.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Barclays assumed coverage on Allstate in a research report on Wednesday, September 4th. They set an “underweight” rating and a $175.00 target price for the company. Finally, Piper Sandler lifted their target price on Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Allstate has a consensus rating of “Moderate Buy” and a consensus price target of $192.76.

Allstate Stock Up 0.4 %

Shares of ALL stock opened at $190.99 on Thursday. The Allstate Co. has a 1-year low of $109.01 and a 1-year high of $191.56. The stock’s fifty day moving average price is $178.30 and its 200 day moving average price is $169.79. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. The company has a market cap of $50.41 billion, a price-to-earnings ratio of 42.16, a price-to-earnings-growth ratio of 1.74 and a beta of 0.48.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share for the quarter, topping the consensus estimate of $0.33 by $1.28. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The firm had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $14.04 billion. During the same period in the previous year, the business earned ($4.42) EPS. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, research analysts expect that The Allstate Co. will post 15.16 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be paid a dividend of $0.92 per share. The ex-dividend date is Friday, August 30th. This represents a $3.68 annualized dividend and a yield of 1.93%. Allstate’s dividend payout ratio (DPR) is 81.24%.

Insider Buying and Selling

In related news, insider Suren Gupta sold 45,775 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the transaction, the insider now directly owns 89,930 shares in the company, valued at approximately $15,942,790.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Allstate news, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the sale, the chief executive officer now owns 88,552 shares in the company, valued at approximately $15,880,915.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Suren Gupta sold 45,775 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $177.28, for a total value of $8,114,992.00. Following the sale, the insider now owns 89,930 shares in the company, valued at approximately $15,942,790.40. The disclosure for this sale can be found here. Insiders have sold a total of 201,938 shares of company stock worth $36,122,740 in the last ninety days. 1.80% of the stock is owned by insiders.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.