S Harris Financial Group LLC Takes $1.48 Million Position in The Allstate Corporation $ALL

S Harris Financial Group LLC acquired a new position in shares of The Allstate Corporation (NYSE:ALL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,093 shares of the insurance provider’s stock, valued at approximately $1,476,000. Allstate makes up about 1.4% of S Harris Financial Group LLC’s investment portfolio, making the stock its 13th biggest position.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MV Capital Management Inc. acquired a new position in shares of Allstate during the fourth quarter valued at about $25,000. Navalign LLC acquired a new stake in shares of Allstate in the 4th quarter worth about $27,000. Dorato Capital Management acquired a new stake in shares of Allstate in the 4th quarter worth about $27,000. Palisade Asset Management LLC bought a new position in Allstate in the 3rd quarter valued at about $31,000. Finally, Princeton Global Asset Management LLC lifted its position in Allstate by 101.3% in the 4th quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 76 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ALL has been the topic of several analyst reports. Raymond James Financial reaffirmed a “strong-buy” rating and set a $260.00 target price on shares of Allstate in a research report on Tuesday, March 3rd. Barclays increased their price target on Allstate from $207.00 to $208.00 and gave the company an “underweight” rating in a research report on Wednesday, April 8th. Piper Sandler reaffirmed an “overweight” rating on shares of Allstate in a report on Thursday, May 28th. Mizuho reduced their target price on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, March 20th. Finally, Zacks Research downgraded shares of Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Three investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Allstate currently has an average rating of “Moderate Buy” and an average target price of $240.33.

Allstate Trading Down 0.2%

Shares of Allstate stock opened at $220.72 on Friday. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $227.62. The stock’s 50-day simple moving average is $215.95 and its 200 day simple moving average is $209.23. The stock has a market capitalization of $56.82 billion, a P/E ratio of 4.87, a P/E/G ratio of 0.40 and a beta of 0.18. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. The business had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. Allstate’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $3.53 EPS. As a group, research analysts anticipate that The Allstate Corporation will post 29.43 EPS for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $1.08 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.0%. Allstate’s dividend payout ratio is presently 9.53%.

Insider Activity

In related news, COO Mario Rizzo sold 18,578 shares of the stock in a transaction on Friday, May 1st. The stock was 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 represents a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of the 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 transaction, the insider owned 27,558 shares in the company, valued at $5,959,968.66. This trade represents a 5.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 22,353 shares of company stock worth $4,851,560. 1.55% of the stock is currently owned by corporate insiders.

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.