IMS Capital Management Makes New $232,000 Investment in The Allstate Co. (NYSE:ALL)

IMS Capital Management acquired a new stake in shares of The Allstate Co. (NYSE:ALL) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,450 shares of the insurance provider’s stock, valued at approximately $232,000.

Other hedge funds also recently made changes to their positions in the company. Truist Financial Corp increased its stake in Allstate by 8.7% during the 2nd quarter. Truist Financial Corp now owns 147,163 shares of the insurance provider’s stock worth $23,496,000 after buying an additional 11,721 shares during the period. EP Wealth Advisors LLC grew its stake in shares of Allstate by 2.4% during the second quarter. EP Wealth Advisors LLC now owns 316,988 shares of the insurance provider’s stock valued at $50,610,000 after acquiring an additional 7,481 shares in the last quarter. Regal Investment Advisors LLC increased its position in shares of Allstate by 8.6% during the second quarter. Regal Investment Advisors LLC now owns 1,427 shares of the insurance provider’s stock worth $228,000 after acquiring an additional 113 shares during the last quarter. Quarry LP lifted its stake in shares of Allstate by 3,100.0% in the second quarter. Quarry LP now owns 2,144 shares of the insurance provider’s stock worth $342,000 after acquiring an additional 2,077 shares in the last quarter. Finally, William B. Walkup & Associates Inc. purchased a new position in Allstate in the second quarter valued at about $3,708,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analyst Ratings Changes

ALL has been the topic of several analyst reports. Morgan Stanley dropped their price objective on Allstate from $205.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. TD Cowen lifted their price target on shares of Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Wells Fargo & Company reduced their price objective on shares of Allstate from $177.00 to $175.00 and set an “equal weight” rating on the stock in a research note on Friday, August 16th. StockNews.com lowered shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. Finally, The Goldman Sachs Group upped their target price on shares of Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and an average target price of $192.76.

Insider Transactions at Allstate

In related news, CEO Thomas J. Wilson sold 90,000 shares of the firm’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 completion of the transaction, the chief executive officer now owns 88,552 shares of the company’s stock, valued at $15,880,915.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the transaction, the insider now owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas J. Wilson sold 90,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were 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 directly owns 88,552 shares of the company’s stock, valued at $15,880,915.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 238,305 shares of company stock valued at $43,082,657. Corporate insiders own 1.80% of the company’s stock.

Allstate Price Performance

NYSE ALL opened at $189.65 on Tuesday. The company has a 50-day moving average price of $181.62 and a two-hundred day moving average price of $171.69. The stock has a market cap of $50.05 billion, a price-to-earnings ratio of 41.87, a price-to-earnings-growth ratio of 1.81 and a beta of 0.48. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49. The Allstate Co. has a 52 week low of $109.01 and a 52 week high of $193.97.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. The business 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%. The company’s revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the business earned ($4.42) earnings per share. Analysts forecast that The Allstate Co. will post 15.2 EPS for the current year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Friday, August 30th. Allstate’s dividend payout ratio (DPR) is presently 81.24%.

Allstate Company Profile

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.