Gulf International Bank UK Ltd Reduces Stock Position in The Allstate Co. (NYSE:ALL)

Gulf International Bank UK Ltd lessened its position in shares of The Allstate Co. (NYSE:ALL) by 0.3% during the 2nd quarter, Holdings Channel reports. The firm owned 64,838 shares of the insurance provider’s stock after selling 225 shares during the quarter. Gulf International Bank UK Ltd’s holdings in The Allstate were worth $8,457,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in shares of The Allstate by 5.8% in the 1st quarter. BlackRock Inc. now owns 27,194,818 shares of the insurance provider’s stock valued at $3,124,684,000 after buying an additional 1,497,120 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of The Allstate by 0.9% in the 1st quarter. Ameriprise Financial Inc. now owns 10,486,227 shares of the insurance provider’s stock valued at $1,204,992,000 after buying an additional 96,232 shares during the period. Geode Capital Management LLC lifted its holdings in shares of The Allstate by 1.9% in the 1st quarter. Geode Capital Management LLC now owns 5,130,280 shares of the insurance provider’s stock valued at $588,022,000 after buying an additional 95,427 shares during the period. UBS Asset Management Americas Inc. lifted its holdings in shares of The Allstate by 18.1% in the 1st quarter. UBS Asset Management Americas Inc. now owns 4,759,031 shares of the insurance provider’s stock valued at $546,813,000 after buying an additional 728,870 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of The Allstate by 7.2% in the 1st quarter. AQR Capital Management LLC now owns 3,459,672 shares of the insurance provider’s stock valued at $397,516,000 after buying an additional 231,291 shares during the period. Institutional investors and hedge funds own 75.00% of the company’s stock.

Shares of The Allstate stock opened at $132.13 on Wednesday. The firm has a market capitalization of $39.07 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 1.09 and a beta of 0.86. The Allstate Co. has a fifty-two week low of $86.51 and a fifty-two week high of $140.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.45 and a current ratio of 0.45. The stock has a 50 day moving average of $132.68 and a 200 day moving average of $127.97.

The Allstate (NYSE:ALL) last issued its quarterly earnings data on Tuesday, August 3rd. The insurance provider reported $3.79 earnings per share for the quarter, topping the consensus estimate of $3.17 by $0.62. The company had revenue of $10.44 billion during the quarter, compared to analyst estimates of $10.57 billion. The Allstate had a return on equity of 22.27% and a net margin of 8.27%. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.46 earnings per share. Analysts forecast that The Allstate Co. will post 16.02 EPS for the current year.

The Allstate declared that its board has approved a share repurchase program on Wednesday, August 4th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the insurance provider to purchase up to 13% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Tuesday, August 31st will be paid a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Monday, August 30th. The Allstate’s dividend payout ratio (DPR) is 22.00%.

In other The Allstate news, insider Jesse E. Merten sold 15,000 shares of the company’s stock in a transaction on Monday, June 21st. The stock was sold at an average price of $127.84, for a total transaction of $1,917,600.00. Following the transaction, the insider now directly owns 24,378 shares in the company, valued at $3,116,483.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.56% of the stock is owned by corporate insiders.

A number of equities analysts recently weighed in on ALL shares. Piper Sandler upped their price target on The Allstate from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, June 3rd. They noted that the move was a valuation call. Barclays increased their target price on The Allstate from $144.00 to $147.00 and gave the company an “overweight” rating in a report on Friday, August 6th. Wolfe Research initiated coverage on The Allstate in a report on Monday, August 16th. They set a “peer perform” rating and a $130.00 target price for the company. Wells Fargo & Company increased their target price on The Allstate from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Friday, July 9th. Finally, UBS Group increased their target price on The Allstate from $118.00 to $139.00 and gave the company a “neutral” rating in a report on Friday, July 9th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, The Allstate has a consensus rating of “Hold” and a consensus price target of $134.17.

The Allstate Profile

The Allstate Corp. engages in the property and casualty insurance business and the sale of life, accident, and health insurance products through its subsidiaries. It operates through following business segments: Allstate Protection, Protection Services, Allstate Life, Allstate Benefits, Allstate Annuities, Discontinued Lines and Coverages, and Corporate and Other.

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Institutional Ownership by Quarter for The Allstate (NYSE:ALL)

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