Empowered Funds LLC Has $12.97 Million Holdings in The Allstate Co. (NYSE:ALL)

15 Nov 2024, 17:02 by Sarita Garza · The Markets Daily

Empowered Funds LLC lifted its holdings in shares of The Allstate Co. (NYSE:ALL – Free Report) by 102.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,371 shares of the insurance provider’s stock after buying an additional 34,650 shares during the quarter. Empowered Funds LLC’s holdings in Allstate were worth $12,967,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Koshinski Asset Management Inc. bought a new stake in shares of Allstate during the 1st quarter valued at $377,000. HBK Sorce Advisory LLC increased its holdings in Allstate by 127.5% in the first quarter. HBK Sorce Advisory LLC now owns 3,292 shares of the insurance provider’s stock valued at $570,000 after purchasing an additional 1,845 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in Allstate by 20.3% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 2,017 shares of the insurance provider’s stock valued at $349,000 after buying an additional 340 shares during the period. Mizuho Markets Americas LLC boosted its holdings in Allstate by 65.3% during the first quarter. Mizuho Markets Americas LLC now owns 614,723 shares of the insurance provider’s stock worth $106,353,000 after buying an additional 242,943 shares during the last quarter. Finally, Pinkerton Retirement Specialists LLC acquired a new position in shares of Allstate during the 1st quarter worth about $217,000. 76.47% of the stock is owned by institutional investors.

Allstate Stock Down 0.8 %

Shares of Allstate stock opened at $195.78 on Friday. The firm has a market cap of $51.84 billion, a PE ratio of 12.68, a P/E/G ratio of 1.75 and a beta of 0.48. The business’s 50 day simple moving average is $189.58 and its 200 day simple moving average is $176.40. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40. The Allstate Co. has a 52-week low of $130.77 and a 52-week high of $201.00.

Allstate (NYSE:ALL – Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The company had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $14.57 billion. During the same period last year, the company earned $0.81 earnings per share. The firm’s revenue was up 14.7% compared to the same quarter last year. On average, analysts predict that The Allstate Co. will post 16.07 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.88%. Allstate’s dividend payout ratio is 23.83%.

Insider Transactions at Allstate

In related news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the transaction, the insider now directly owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. This represents a 57.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Thomas J. Wilson sold 90,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total value 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 approximately $15,880,915.68. This represents a 50.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 143,049 shares of company stock worth $26,106,112 in the last three months. Insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ALL. Evercore ISI increased their price target on shares of Allstate from $191.00 to $195.00 and gave the company an “in-line” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. increased their target price on shares of Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Piper Sandler lifted their price target on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Jefferies Financial Group upped their price objective on shares of Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, UBS Group raised their price objective on Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $214.19.

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