Severin Investments LLC Makes New $622,000 Investment in The Allstate Corporation $ALL

Severin Investments LLC bought a new position in The Allstate Corporation (NYSE:ALL) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,989 shares of the insurance provider’s stock, valued at approximately $622,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Truist Financial Corp increased its holdings in shares of Allstate by 4.7% in the 3rd quarter. Truist Financial Corp now owns 123,461 shares of the insurance provider’s stock worth $26,501,000 after purchasing an additional 5,542 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Allstate by 6.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 189,718 shares of the insurance provider’s stock worth $40,489,000 after purchasing an additional 12,225 shares in the last quarter. Caprock Group LLC bought a new stake in shares of Allstate in the 3rd quarter worth $3,598,000. Coastal Bridge Advisors LLC increased its holdings in shares of Allstate by 530.6% in the 3rd quarter. Coastal Bridge Advisors LLC now owns 18,174 shares of the insurance provider’s stock worth $3,901,000 after purchasing an additional 15,292 shares in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new stake in shares of Allstate in the 3rd quarter worth $7,814,000. Institutional investors own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Cantor Fitzgerald restated a “neutral” rating and issued a $220.00 price target on shares of Allstate in a research note on Thursday, February 5th. Keefe, Bruyette & Woods raised their price target on Allstate from $260.00 to $266.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Zacks Research downgraded Allstate from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Barclays raised their price target on Allstate from $207.00 to $208.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 8th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $260.00 price target on shares of Allstate in a research note on Tuesday, March 3rd. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.67.

Allstate Stock Performance

NYSE:ALL opened at $208.90 on Thursday. The stock has a 50-day simple moving average of $212.66 and a two-hundred day simple moving average of $208.53. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $227.62. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market capitalization of $53.78 billion, a PE ratio of 4.61, a P/E/G ratio of 0.38 and a beta of 0.21.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The business had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same quarter in the previous year, the company posted $3.53 earnings per share. Allstate’s revenue for the quarter was up 3.0% on a year-over-year basis. Analysts forecast that The Allstate Corporation will post 29.28 EPS for the current year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Monday, June 1st. Allstate’s payout ratio is currently 9.53%.

Insider Activity

In other Allstate news, COO Mario Rizzo sold 18,578 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the sale, the chief operating officer owned 82,227 shares of the company’s stock, valued at approximately $17,991,267.60. The trade was a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value of $335,218.50. Following the sale, the insider directly owned 27,558 shares of the company’s stock, valued at $5,959,968.66. This represents a 5.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.55% of the company’s stock.

About Allstate

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.