IFG Advisory LLC Sells 6,702 Shares of The Allstate Corporation $ALL

IFG Advisory LLC decreased its holdings in shares of The Allstate Corporation (NYSE:ALL) by 48.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 7,096 shares of the insurance provider’s stock after selling 6,702 shares during the period. IFG Advisory LLC’s holdings in Allstate were worth $1,477,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. State Street Corp raised its position in shares of Allstate by 0.7% during the 3rd quarter. State Street Corp now owns 11,859,517 shares of the insurance provider’s stock valued at $2,557,362,000 after acquiring an additional 85,468 shares during the last quarter. Boston Partners grew its holdings in shares of Allstate by 14.9% in the 3rd quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock valued at $654,652,000 after buying an additional 395,195 shares during the period. Raymond James Financial Inc. grew its holdings in shares of Allstate by 3.3% in the 2nd quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider’s stock valued at $562,388,000 after buying an additional 88,620 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Allstate by 18.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,606,451 shares of the insurance provider’s stock valued at $559,435,000 after buying an additional 401,700 shares during the period. Finally, Legal & General Group Plc grew its holdings in shares of Allstate by 6.7% in the 3rd quarter. Legal & General Group Plc now owns 2,011,214 shares of the insurance provider’s stock valued at $431,707,000 after buying an additional 126,401 shares during the period. Institutional investors own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ALL. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $231.00 target price on shares of Allstate in a research note on Thursday, March 5th. Keefe, Bruyette & Woods upped their target price on shares of Allstate from $260.00 to $266.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Piper Sandler reaffirmed an “overweight” rating on shares of Allstate in a research note on Thursday. Wells Fargo & Company upped their target price on shares of Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $220.00 target price on shares of Allstate in a research note on Thursday, February 5th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $241.67.

Allstate Trading Down 0.4%

Allstate stock opened at $206.51 on Friday. The firm has a 50-day moving average of $212.70 and a 200-day moving average of $208.55. The Allstate Corporation has a one year low of $188.08 and a one year high of $227.62. 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 company has a market cap of $53.16 billion, a price-to-earnings ratio of 4.56, a P/E/G ratio of 0.37 and a beta of 0.21.

Allstate (NYSE:ALL) last posted its quarterly earnings data 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 net margin of 17.81% and a return on equity of 42.66%. The company had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the prior year, the business posted $3.53 EPS. The company’s quarterly revenue was up 3.0% on a year-over-year basis. On average, equities analysts expect that The Allstate Corporation will post 29.11 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently announced 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. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, June 1st. Allstate’s dividend payout ratio is presently 9.53%.

Insider Transactions at Allstate

In other news, COO Mario Rizzo sold 18,578 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $218.80, for a total value of $4,064,866.40. Following the sale, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at approximately $17,991,267.60. This represents a 18.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of the company’s 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 completion of the sale, the insider directly owned 27,558 shares in the company, valued at approximately $5,959,968.66. The trade was a 5.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.55% of the stock is currently owned by corporate insiders.

Allstate News Roundup

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Allstate remains fundamentally strong after its latest quarter, with earnings per share and revenue both beating expectations, which supports the bull case for the stock. Insider Selling: Allstate (NYSE:ALL) Insider Sells 1,550 Shares of Stock
• Positive Sentiment: Several analyst and research notes continue to frame Allstate as undervalued or fairly attractive, and the stock still carries a moderate buy consensus with a higher average price target. Allstate (ALL) Down 4.6% Since Last Earnings Report: Can It Rebound?
• Neutral Sentiment: Allstate announced estimated April catastrophe losses of $870 million pre-tax, which is a reminder that weather-related claims can create earnings volatility and may temper sentiment near term. Is Allstate (ALL) the Most Undervalued Stock to Invest In?
• Neutral Sentiment: A consumer-focused article highlighting car insurance for road trips is not a direct company-specific catalyst, but it keeps attention on auto insurance demand and the broader insurance category. Driving instead of flying? Here’s the best car insurance for road trips
• Negative Sentiment: One insider sold 1,550 shares, and while the sale was small relative to the company, insider selling can weigh on short-term sentiment. Insider Selling: Allstate (NYSE:ALL) Insider Sells 1,550 Shares of Stock

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.