Mesirow Financial Investment Management Inc. Boosts Stake in The Allstate Co. (NYSE:ALL)

Mesirow Financial Investment Management Inc. increased its stake in The Allstate Co. (NYSE:ALL) by 0.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 64,911 shares of the insurance provider’s stock after acquiring an additional 88 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Allstate were worth $10,371,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ALL. Bank of New York Mellon Corp increased its position in shares of Allstate by 1.8% during the 1st quarter. Bank of New York Mellon Corp now owns 5,112,468 shares of the insurance provider’s stock valued at $884,508,000 after purchasing an additional 90,390 shares during the last quarter. Norges Bank purchased a new stake in Allstate in the fourth quarter worth approximately $212,771,000. Dimensional Fund Advisors LP grew its position in Allstate by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock valued at $229,545,000 after acquiring an additional 47,038 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Allstate by 1.0% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 818,489 shares of the insurance provider’s stock worth $130,680,000 after acquiring an additional 8,454 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Allstate by 11.8% in the 1st quarter. Russell Investments Group Ltd. now owns 716,757 shares of the insurance provider’s stock worth $123,574,000 after acquiring an additional 75,698 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

Allstate Trading Up 1.2 %

Shares of ALL stock opened at $188.30 on Monday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $49.72 billion, a price-to-earnings ratio of 41.57, a price-to-earnings-growth ratio of 1.74 and a beta of 0.48. The Allstate Co. has a 12-month low of $108.16 and a 12-month high of $191.33. The stock’s 50-day moving average price is $176.43 and its 200-day moving average price is $169.17.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $1.28. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The business had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $14.04 billion. During the same period in the prior year, the firm earned ($4.42) EPS. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. Equities research analysts predict that The Allstate Co. will post 15.16 EPS for the current fiscal year.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be paid a $0.92 dividend. The ex-dividend date is Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.95%. Allstate’s payout ratio is currently 81.24%.

Insider Transactions at Allstate

In related news, CEO Thomas J. Wilson sold 90,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the transaction, the chief executive officer now owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Elizabeth Brady sold 49,481 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the transaction, the executive vice president now owns 19,163 shares of the company’s stock, valued at approximately $3,431,901.67. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Thomas J. Wilson sold 90,000 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total value of $16,140,600.00. Following the sale, the chief executive officer now owns 88,552 shares in the company, valued at approximately $15,880,915.68. The disclosure for this sale can be found here. Insiders have sold a total of 201,938 shares of company stock worth $36,122,740 in the last three months. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on ALL. Piper Sandler lifted their target price on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Roth Mkm reissued a “buy” rating and issued a $200.00 target price on shares of Allstate in a research note on Wednesday, August 14th. JPMorgan Chase & Co. increased their target price on Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. BMO Capital Markets lifted their price target on Allstate from $191.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, Bank of America increased their price objective on Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Allstate currently has an average rating of “Moderate Buy” and a consensus price target of $192.76.

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.