MUFG Securities EMEA plc Grows Position in The Allstate Corporation $ALL

MUFG Securities EMEA plc grew its stake in The Allstate Corporation (NYSE:ALL) by 405.9% during the 4th quarter, HoldingsChannel reports. The firm owned 25,520 shares of the insurance provider’s stock after buying an additional 20,476 shares during the quarter. MUFG Securities EMEA plc’s holdings in Allstate were worth $5,312,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp raised its stake in Allstate by 6.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 189,718 shares of the insurance provider’s stock valued at $40,489,000 after purchasing an additional 12,225 shares during the last quarter. Caprock Group LLC acquired a new position in Allstate in the 3rd quarter valued at $3,598,000. CIBC Bancorp USA Inc. acquired a new position in Allstate in the 3rd quarter valued at $7,814,000. Thrivent Financial for Lutherans raised its stake in Allstate by 14.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 416,847 shares of the insurance provider’s stock valued at $89,477,000 after purchasing an additional 53,237 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co raised its stake in Allstate by 39.6% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 40,298 shares of the insurance provider’s stock valued at $8,650,000 after purchasing an additional 11,431 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate News Summary

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Allstate remains fundamentally strong after its latest quarter, with earnings per share and revenue both beating expectations, which supports the bull case for the stock. Insider Selling: Allstate (NYSE:ALL) Insider Sells 1,550 Shares of Stock
• Positive Sentiment: Several analyst and research notes continue to frame Allstate as undervalued or fairly attractive, and the stock still carries a moderate buy consensus with a higher average price target. Allstate (ALL) Down 4.6% Since Last Earnings Report: Can It Rebound?
• Neutral Sentiment: Allstate announced estimated April catastrophe losses of $870 million pre-tax, which is a reminder that weather-related claims can create earnings volatility and may temper sentiment near term. Is Allstate (ALL) the Most Undervalued Stock to Invest In?
• Neutral Sentiment: A consumer-focused article highlighting car insurance for road trips is not a direct company-specific catalyst, but it keeps attention on auto insurance demand and the broader insurance category. Driving instead of flying? Here’s the best car insurance for road trips
• Negative Sentiment: One insider sold 1,550 shares, and while the sale was small relative to the company, insider selling can weigh on short-term sentiment. Insider Selling: Allstate (NYSE:ALL) Insider Sells 1,550 Shares of Stock

Insider Transactions at Allstate

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

Wall Street Analyst Weigh In

ALL has been the subject of several recent research reports. Keefe, Bruyette & Woods increased their price objective on Allstate from $260.00 to $266.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Wells Fargo & Company increased their price objective on Allstate from $229.00 to $243.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Wall Street Zen downgraded Allstate from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Raymond James Financial reissued a “strong-buy” rating and issued a $260.00 price objective on shares of Allstate in a research note on Tuesday, March 3rd. Finally, Piper Sandler reissued an “overweight” rating on shares of Allstate in a research note on Thursday. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and a consensus target price of $241.67.

Allstate Stock Up 0.2%

Shares of ALL opened at $206.51 on Monday. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $227.62. The company has a market capitalization of $53.16 billion, a PE ratio of 4.56, a price-to-earnings-growth ratio of 0.37 and a beta of 0.19. The stock has a fifty day simple moving average of $212.70 and a two-hundred day simple moving average of $208.59. 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:ALL) last issued its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. The firm had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the company earned $3.53 EPS. As a group, equities analysts forecast that The Allstate Corporation will post 29.11 EPS for the current year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, June 1st. Allstate’s dividend payout ratio (DPR) is presently 9.53%.

Allstate Profile

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.