10,277 Shares in The Allstate Corporation $ALL Acquired by Harvest Investment Advisors LLC

Harvest Investment Advisors LLC bought a new position in The Allstate Corporation (NYSE:ALL) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 10,277 shares of the insurance provider’s stock, valued at approximately $2,139,000. Allstate comprises approximately 1.2% of Harvest Investment Advisors LLC’s holdings, making the stock its 25th biggest holding.

A number of other hedge funds also recently bought and sold shares of the company. State Street Corp lifted its position in Allstate by 3.7% in the 4th quarter. State Street Corp now owns 12,297,551 shares of the insurance provider’s stock worth $2,571,600,000 after buying an additional 438,034 shares during the last quarter. GQG Partners LLC lifted its position in Allstate by 36.0% in the 4th quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock worth $1,142,449,000 after buying an additional 1,452,993 shares during the last quarter. Franklin Resources Inc. lifted its position in Allstate by 29.2% in the 4th quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock worth $1,042,321,000 after buying an additional 1,131,172 shares during the last quarter. Boston Partners lifted its position in Allstate by 14.9% in the 3rd quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock worth $654,652,000 after buying an additional 395,195 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its position in Allstate by 3.3% in the 2nd quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider’s stock worth $562,388,000 after buying an additional 88,620 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Mizuho dropped their target price on Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. Wall Street Zen cut Allstate from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings raised Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, March 23rd. Piper Sandler reaffirmed an “overweight” rating on shares of Allstate in a research note on Thursday, May 28th. Finally, Citigroup lifted their price target on Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and an average target price of $240.33.

Insider Activity

In other news, COO Mario Rizzo sold 18,578 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief operating officer directly 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 $451,474.75. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 22,353 shares of company stock valued at $4,851,560. Company insiders own 1.55% of the company’s stock.

Allstate Price Performance

Shares of Allstate stock opened at $223.35 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36. The business’s 50 day simple moving average is $215.29 and its two-hundred day simple moving average is $209.04. The stock has a market capitalization of $57.49 billion, a P/E ratio of 4.93, a price-to-earnings-growth ratio of 0.40 and a beta of 0.19. The Allstate Corporation has a one year low of $188.08 and a one year high of $227.62.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $15.24 billion. During the same period in the previous year, the firm earned $3.53 EPS. The business’s quarterly revenue was up 3.0% on a year-over-year basis. Analysts forecast that The Allstate Corporation will post 29.43 EPS for the current year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $4.32 annualized dividend and a dividend yield of 1.9%. Allstate’s payout ratio is 9.53%.

Allstate Company 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.