Collaborative Fund Advisors LLC Makes New Investment in The Allstate Corporation $ALL

by · The Markets Daily

Collaborative Fund Advisors LLC purchased a new position in The Allstate Corporation (NYSE:ALLFree Report) in the first quarter, HoldingsChannel reports. The firm purchased 6,833 shares of the insurance provider’s stock, valued at approximately $1,417,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ALL. South Plains Financial Inc. increased its stake in Allstate by 41.5% in the 3rd quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock worth $36,000 after buying an additional 49 shares in the last quarter. Coldstream Capital Management Inc. boosted its stake in Allstate by 0.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider’s stock worth $1,625,000 after purchasing an additional 50 shares during the period. Compound Planning Inc. grew its holdings in Allstate by 1.6% during the 4th quarter. Compound Planning Inc. now owns 3,216 shares of the insurance provider’s stock valued at $669,000 after buying an additional 50 shares in the last quarter. Humankind Investments LLC raised its position in shares of Allstate by 4.5% during the third quarter. Humankind Investments LLC now owns 1,191 shares of the insurance provider’s stock valued at $256,000 after buying an additional 51 shares during the last quarter. Finally, Cullen Frost Bankers Inc. boosted its position in shares of Allstate by 0.9% during the fourth quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider’s stock worth $1,210,000 after acquiring an additional 52 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors.

Allstate Price Performance

ALL stock opened at $249.84 on Monday. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $250.38. The firm has a market capitalization of $64.31 billion, a P/E ratio of 5.51, a price-to-earnings-growth ratio of 0.44 and a beta of 0.16. The company has a fifty day simple moving average of $220.59 and a two-hundred day simple moving average of $211.53. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25.

Allstate (NYSE:ALLGet Free Report) last posted its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. The firm had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $3.53 EPS. Analysts anticipate that The Allstate Corporation will post 29.75 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Monday, June 1st. Allstate’s payout ratio is presently 9.53%.

Insider Buying and Selling at Allstate

In other news, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction that occurred 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 completion of the transaction, the insider owned 27,558 shares in the company, valued at approximately $5,959,968.66. The trade was a 5.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrea Redmond sold 2,225 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $202.91, for a total value of $451,474.75. Following the transaction, the director directly owned 2,225 shares in the company, valued at approximately $451,474.75. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 22,353 shares of company stock worth $4,851,560 over the last ninety days. Company insiders own 1.55% of the company’s stock.

Analyst Ratings Changes

ALL has been the topic of several research analyst reports. Wells Fargo & Company boosted their price target on shares of Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Wall Street Zen raised Allstate from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings reiterated a “buy (a-)” rating on shares of Allstate in a research report on Thursday, June 18th. Zacks Research lowered Allstate from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, Mizuho cut their price target on Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, March 20th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $240.33.

Check Out Our Latest Stock Report on Allstate

About Allstate

(Free Report)

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.

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