MidFirst Bank Makes New Investment in The Allstate Corporation $ALL

MidFirst Bank acquired a new position in The Allstate Corporation (NYSE:ALL) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,633 shares of the insurance provider’s stock, valued at approximately $2,530,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in Allstate by 60.2% in the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock valued at $1,253,000 after buying an additional 2,443 shares during the period. Revolve Wealth Partners LLC acquired a new stake in shares of Allstate during the 4th quarter worth approximately $231,000. WINTON GROUP Ltd acquired a new stake in shares of Allstate during the 2nd quarter worth approximately $210,000. Treasurer of the State of North Carolina increased its stake in shares of Allstate by 2.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 123,272 shares of the insurance provider’s stock valued at $24,816,000 after acquiring an additional 3,051 shares in the last quarter. Finally, Ieq Capital LLC increased its stake in shares of Allstate by 20.1% in the 2nd quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider’s stock valued at $7,713,000 after acquiring an additional 6,412 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on ALL. Mizuho upped their price objective on shares of Allstate from $255.00 to $272.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Morgan Stanley set a $265.00 target price on shares of Allstate in a research report on Tuesday, August 11th. Piper Sandler upped their target price on shares of Allstate from $268.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. Roth Capital set a $300.00 price target on shares of Allstate in a research report on Thursday, August 6th. Finally, HSBC downgraded Allstate from a “buy” rating to a “hold” rating and lifted their price target for the company from $244.00 to $264.00 in a research note on Monday, July 6th. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Allstate has a consensus rating of “Hold” and a consensus target price of $265.53.

Insider Activity

In other Allstate 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 value of $335,218.50. Following the completion of the sale, the insider owned 27,558 shares in the company, valued at approximately $5,959,968.66. This trade represents a 5.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Mario Rizzo sold 56,225 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total value of $14,870,388.00. Following the completion of the transaction, the chief operating officer owned 82,227 shares in the company, valued at $21,747,396.96. The trade was a 40.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 92,996 shares of company stock valued at $24,543,894. 1.55% of the stock is currently owned by company insiders.

Allstate Price Performance

Shares of NYSE:ALL opened at $257.88 on Tuesday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24. The stock has a market cap of $65.21 billion, a PE ratio of 5.15, a price-to-earnings-growth ratio of 0.41 and a beta of 0.16. The stock’s fifty day simple moving average is $247.38 and its two-hundred day simple moving average is $223.47. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $277.22.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.06 by $2.93. The firm had revenue of $15.43 billion during the quarter, compared to analyst estimates of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The business’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.94 EPS. As a group, analysts forecast that The Allstate Corporation will post 33.92 EPS for the current fiscal year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, August 31st. Allstate’s dividend payout ratio is presently 8.63%.

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.