Quartz Partners LLC Purchases New Shares in The Allstate Corporation $ALL

Quartz Partners LLC acquired a new position in shares of The Allstate Corporation (NYSE:ALL) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,095 shares of the insurance provider’s stock, valued at approximately $498,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Allstate in the second quarter valued at about $5,439,448,000. Deutsche Bank AG acquired a new position in shares of Allstate during the 2nd quarter worth about $1,008,648,000. Norges Bank purchased a new position in Allstate in the 4th quarter valued at about $531,294,000. Bank of New York Mellon Corp acquired a new stake in Allstate in the 2nd quarter worth about $425,484,000. Finally, GQG Partners LLC boosted 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 buying an additional 1,452,993 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Stock Down 0.3%

Shares of NYSE ALL opened at $260.24 on Thursday. The stock has a market cap of $65.80 billion, a PE ratio of 5.20, a P/E/G ratio of 0.40 and a beta of 0.16. 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 Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $277.22. The company has a 50-day moving average of $249.00 and a 200 day moving average of $224.35.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, topping analysts’ consensus estimates of $6.06 by $2.93. The business had revenue of $15.43 billion for 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% on a year-over-year basis. During the same period last year, the company posted $5.94 EPS. As a group, sell-side analysts predict that The Allstate Corporation will post 34.5 EPS for the current fiscal year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, August 31st. Allstate’s dividend payout ratio (DPR) is currently 8.63%.

Insider Buying and Selling

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the sale, the insider directly owned 27,558 shares in the company, valued at $5,959,968.66. This represents a 5.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Mario Rizzo sold 56,225 shares of the firm’s 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 sale, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at $21,747,396.96. This trade represents a 40.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 92,996 shares of company stock worth $24,543,894. 1.55% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ALL has been the subject of a number of research analyst reports. Piper Sandler increased their target price on Allstate from $268.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, August 10th. Barclays lifted their price target on Allstate from $213.00 to $226.00 and gave the stock an “underweight” rating in a research note on Thursday, August 6th. UBS Group boosted their price target on Allstate from $261.00 to $275.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Wells Fargo & Company downgraded Allstate from an “equal weight” rating to an “underweight” rating and increased their price objective for the company from $243.00 to $250.00 in a research note on Friday, August 7th. Finally, Mizuho raised their price objective on Allstate from $255.00 to $272.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Four research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $265.53.

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.