Empowered Funds LLC Acquires 22,060 Shares of The Allstate Corporation $ALL

Empowered Funds LLC boosted its stake in The Allstate Corporation (NYSE:ALL) by 16.4% in the first quarter, HoldingsChannel reports. The firm owned 156,254 shares of the insurance provider’s stock after buying an additional 22,060 shares during the period. Empowered Funds LLC’s holdings in Allstate were worth $32,398,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ALL. State Street Corp boosted its holdings in shares of Allstate by 3.7% during the 4th quarter. State Street Corp now owns 12,297,551 shares of the insurance provider’s stock valued at $2,571,600,000 after buying an additional 438,034 shares in the last quarter. GQG Partners LLC raised its holdings 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 acquiring an additional 1,452,993 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Allstate by 29.2% during the fourth quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock valued at $1,042,321,000 after purchasing an additional 1,131,172 shares in the last quarter. Boston Partners boosted its holdings in shares of Allstate by 14.9% during the 3rd quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock valued at $654,652,000 after acquiring an additional 395,195 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Allstate by 5.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,804,615 shares of the insurance provider’s stock worth $581,515,000 after purchasing an additional 154,259 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Price Performance

Shares of Allstate stock opened at $261.37 on Tuesday. The stock has a market capitalization of $67.28 billion, a P/E ratio of 5.77, a PEG ratio of 0.45 and a beta of 0.16. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $262.24. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The business’s fifty day moving average price is $231.96 and its 200 day moving average price is $216.45.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping 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 company had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter in the prior year, the business earned $3.53 earnings per share. The company’s revenue was up 3.0% compared to the same quarter last year. As a group, research analysts anticipate that The Allstate Corporation will post 30.51 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be paid a dividend of $1.08 per share. The ex-dividend date is Monday, August 31st. This represents a $4.32 annualized dividend and a yield of 1.7%. Allstate’s dividend payout ratio (DPR) is 9.53%.

Wall Street Analysts Forecast Growth

ALL has been the subject of a number of recent research reports. UBS Group downgraded Allstate from a “buy” rating to a “neutral” rating and boosted their price target for the company from $255.00 to $261.00 in a research note on Wednesday, July 15th. Evercore set a $240.00 price target on Allstate in a research note on Friday, July 10th. Weiss Ratings reiterated a “buy (a-)” rating on shares of Allstate in a research report on Thursday, June 18th. Roth Capital reiterated a “buy” rating and issued a $275.00 target price on shares of Allstate in a research report on Friday, July 17th. Finally, Mizuho increased their price objective on shares of Allstate from $255.00 to $272.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Three research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and an average price target of $254.80.

Insider Transactions at Allstate

In related news, 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 transaction of $335,218.50. Following the sale, the insider owned 27,558 shares in the company, valued at $5,959,968.66. This represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrea Redmond sold 2,225 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the sale, the director directly owned 2,225 shares in the company, valued at approximately $451,474.75. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 22,353 shares of company stock worth $4,851,560. 1.55% of the stock is currently owned by insiders.

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.