Elo Mutual Pension Insurance Co Cuts Stake in The Allstate Co. (NYSE:ALL)

Elo Mutual Pension Insurance Co decreased its holdings in The Allstate Co. (NYSE:ALL) by 6.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,257 shares of the insurance provider’s stock after selling 1,654 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Allstate were worth $3,554,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Premier Path Wealth Partners LLC boosted its holdings in Allstate by 2.5% in the second quarter. Premier Path Wealth Partners LLC now owns 2,457 shares of the insurance provider’s stock worth $392,000 after acquiring an additional 61 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Allstate by 70.9% in the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 78 shares during the last quarter. Beacon Capital Management LLC boosted its stake in Allstate by 8.2% in the 2nd quarter. Beacon Capital Management LLC now owns 1,039 shares of the insurance provider’s stock worth $166,000 after purchasing an additional 79 shares in the last quarter. Lodestone Wealth Management LLC grew its position in Allstate by 4.8% during the 2nd quarter. Lodestone Wealth Management LLC now owns 1,738 shares of the insurance provider’s stock worth $277,000 after purchasing an additional 80 shares during the last quarter. Finally, MCF Advisors LLC increased its stake in Allstate by 33.9% during the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after purchasing an additional 84 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Allstate news, EVP Elizabeth Brady sold 49,481 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the transaction, the executive vice president now directly owns 19,163 shares of the company’s stock, valued at $3,431,901.67. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Elizabeth Brady sold 49,481 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the completion of the transaction, the executive vice president now owns 19,163 shares in the company, valued at approximately $3,431,901.67. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Suren Gupta sold 45,775 shares of Allstate stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $177.28, for a total value of $8,114,992.00. Following the completion of the sale, the insider now owns 89,930 shares in the company, valued at $15,942,790.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 201,938 shares of company stock valued at $36,122,740. 1.80% of the stock is owned by corporate insiders.

Allstate Stock Up 0.4 %

ALL opened at $190.99 on Thursday. The company has a fifty day moving average of $178.30 and a two-hundred day moving average of $169.79. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36. The Allstate Co. has a fifty-two week low of $109.01 and a fifty-two week high of $191.56. The stock has a market capitalization of $50.41 billion, a price-to-earnings ratio of 42.16, a PEG ratio of 1.74 and a beta of 0.48.

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

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be paid a $0.92 dividend. The ex-dividend date is Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a yield of 1.93%. Allstate’s dividend payout ratio is currently 81.24%.

Analysts Set New Price Targets

Several research firms have recently commented on ALL. The Goldman Sachs Group lifted their price objective on shares of Allstate from $199.00 to $204.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Roth Mkm reiterated a “buy” rating and set a $200.00 price target on shares of Allstate in a research note on Wednesday, August 14th. JPMorgan Chase & Co. raised their price objective on Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Piper Sandler lifted their target price on Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Finally, Morgan Stanley cut their price target on shares of Allstate from $205.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and a consensus target price of $192.76.

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.