Summit Trail Advisors LLC Grows Stock Holdings in The Allstate Co. (NYSE:ALL)

Summit Trail Advisors LLC raised its stake in shares of The Allstate Co. (NYSE:ALL) by 44.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,328 shares of the insurance provider’s stock after acquiring an additional 5,677 shares during the period. Summit Trail Advisors LLC’s holdings in Allstate were worth $2,944,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. SageView Advisory Group LLC acquired a new stake in shares of Allstate during the fourth quarter worth $456,000. Rafferty Asset Management LLC boosted its holdings in shares of Allstate by 5.7% in the fourth quarter. Rafferty Asset Management LLC now owns 92,753 shares of the insurance provider’s stock valued at $12,984,000 after acquiring an additional 4,987 shares in the last quarter. Lighthouse Investment Partners LLC purchased a new stake in shares of Allstate in the fourth quarter valued at about $5,927,000. BDF Gestion acquired a new position in shares of Allstate during the second quarter worth about $3,051,000. Finally, BNP Paribas Financial Markets raised its holdings in Allstate by 55.8% during the first quarter. BNP Paribas Financial Markets now owns 218,629 shares of the insurance provider’s stock worth $37,825,000 after purchasing an additional 78,316 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ALL shares. StockNews.com cut Allstate from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 21st. Keefe, Bruyette & Woods upped their price objective on Allstate from $199.00 to $208.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. JPMorgan Chase & Co. boosted their target price on shares of Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Roth Mkm reiterated a “buy” rating and issued a $200.00 price target on shares of Allstate in a report on Wednesday, August 14th. Finally, Piper Sandler raised their price objective on shares of Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $192.76.

Insider Buying and Selling

In other news, EVP Robert Toohey sold 16,682 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the sale, the executive vice president now directly owns 4,873 shares of the company’s stock, valued at $877,968.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Allstate news, EVP Robert Toohey sold 16,682 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the completion of the sale, the executive vice president now directly owns 4,873 shares of the company’s stock, valued at $877,968.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas J. Wilson sold 90,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the sale, the chief executive officer now directly owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. The disclosure for this sale can be found here. Insiders have sold a total of 201,938 shares of company stock valued at $36,122,740 over the last three months. Company insiders own 1.80% of the company’s stock.

Allstate Stock Performance

Shares of ALL stock opened at $191.00 on Friday. The Allstate Co. has a 12-month low of $109.01 and a 12-month high of $193.19. The firm has a market capitalization 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. The business has a 50 day simple moving average of $179.42 and a 200 day simple moving average of $170.17. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36.

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

Allstate Announces Dividend

The company 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 of this dividend is Friday, August 30th. This represents a $3.68 annualized dividend and a yield of 1.93%. Allstate’s dividend payout ratio is currently 81.24%.

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.