The Allstate Co. (NYSE:ALL) Shares Bought by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC raised its stake in The Allstate Co. (NYSE:ALL) by 27.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,083 shares of the insurance provider’s stock after acquiring an additional 660 shares during the period. Lake Street Advisors Group LLC’s holdings in Allstate were worth $536,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Atlanta Consulting Group Advisors LLC acquired a new position in shares of Allstate during the first quarter worth approximately $581,000. PYA Waltman Capital LLC boosted its position in shares of Allstate by 5.2% during the first quarter. PYA Waltman Capital LLC now owns 14,023 shares of the insurance provider’s stock worth $2,426,000 after buying an additional 694 shares during the period. UniSuper Management Pty Ltd boosted its position in shares of Allstate by 292.0% during the first quarter. UniSuper Management Pty Ltd now owns 9,318 shares of the insurance provider’s stock worth $1,612,000 after buying an additional 6,941 shares during the period. Invesco LLC raised its holdings in Allstate by 13.0% during the first quarter. Invesco LLC now owns 14,137 shares of the insurance provider’s stock worth $2,446,000 after purchasing an additional 1,627 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its holdings in Allstate by 12.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 48,798 shares of the insurance provider’s stock worth $8,443,000 after purchasing an additional 5,365 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on ALL. Piper Sandler boosted their target price on Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $194.00 target price on shares of Allstate in a report on Friday, July 5th. Wells Fargo & Company boosted their target price on Allstate from $146.00 to $153.00 and gave the stock an “underweight” rating in a report on Friday, May 10th. HSBC raised Allstate from a “hold” rating to a “buy” rating and boosted their target price for the stock from $158.00 to $190.00 in a report on Thursday, March 28th. Finally, BMO Capital Markets raised Allstate from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $190.00 to $191.00 in a report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $178.06.

Allstate Trading Up 1.4 %

NYSE ALL traded up $2.40 on Thursday, hitting $174.74. 222,261 shares of the stock were exchanged, compared to its average volume of 1,544,269. The Allstate Co. has a 52-week low of $104.29 and a 52-week high of $179.93. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.36 and a quick ratio of 0.36. The company has a market capitalization of $46.12 billion, a price-to-earnings ratio of 38.03, a P/E/G ratio of 1.82 and a beta of 0.48. The company’s 50-day moving average price is $164.02 and its two-hundred day moving average price is $163.22.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, topping the consensus estimate of $4.11 by $1.02. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The firm had revenue of $15.26 billion for the quarter, compared to analysts’ expectations of $12.76 billion. During the same period in the previous year, the company posted ($1.30) EPS. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. Research analysts predict that The Allstate Co. will post 13.64 EPS for the current year.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Friday, August 30th. Allstate’s dividend payout ratio is presently 81.24%.

Insider Buying and Selling

In other Allstate news, insider Suren Gupta sold 45,775 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the completion of the transaction, the insider now owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.