Man Group plc Invests $13.58 Million in The Allstate Corporation $ALL

Man Group plc purchased a new stake in The Allstate Corporation (NYSE:ALL) in the second quarter, according to its most recent filing with the SEC. The fund purchased 57,089 shares of the insurance provider’s stock, valued at approximately $13,584,000.

Several other institutional investors and hedge funds have also made changes to their positions in ALL. MV Capital Management Inc. bought a new stake in Allstate during the fourth quarter valued at $25,000. Gables Capital Management Inc. bought a new stake in shares of Allstate during the 2nd quarter valued at about $26,000. Navalign LLC acquired a new stake in Allstate during the fourth quarter worth about $27,000. Kelleher Financial Advisors bought a new position in Allstate in the second quarter worth about $28,000. Finally, Evolution Wealth Management Inc. lifted its holdings in Allstate by 7,000.0% in the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 140 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Stock Down 1.7%

Shares of ALL stock opened at $257.24 on Friday. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $277.22. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.36 and a current ratio of 0.36. The business’s fifty day moving average is $253.33 and its 200-day moving average is $226.56. The stock has a market cap of $65.05 billion, a PE ratio of 5.14, a price-to-earnings-growth ratio of 0.40 and a beta of 0.16.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, beating the consensus estimate of $6.06 by $2.93. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The business had revenue of $18.60 billion during the quarter, compared to analysts’ expectations of $15.46 billion. During the same quarter last year, the business posted $5.94 earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis. Equities analysts expect that The Allstate Corporation will post 34.45 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently announced 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 of this dividend is Monday, August 31st. This represents a $4.32 annualized dividend and a yield of 1.7%. Allstate’s dividend payout ratio is currently 8.63%.

Insider Activity at Allstate

In other news, Director Andrea Redmond sold 2,225 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following the completion of the sale, the director owned 2,225 shares in the company, valued at approximately $451,474.75. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Mario Rizzo sold 56,225 shares of Allstate stock in a transaction 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 91,446 shares of company stock valued at $24,208,675 over the last ninety days. Insiders own 1.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ALL shares. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $250.00 price target (down from $255.00) on shares of Allstate in a research report on Thursday, August 20th. Mizuho upped their price objective on Allstate from $255.00 to $272.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. Wells Fargo & Company lowered Allstate from an “equal weight” rating to an “underweight” rating and increased their target price for the stock from $243.00 to $250.00 in a research report on Friday, August 7th. Weiss Ratings downgraded shares of Allstate from a “buy (a)” rating to a “buy (a-)” rating in a report on Tuesday. Finally, Piper Sandler upped their price target on shares of Allstate from $268.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Four equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $265.26.

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.