Aware Super Pty Ltd as trustee of Aware Super Acquires Shares of 51,946 The Allstate Corporation $ALL

Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of The Allstate Corporation (NYSE:ALL) during the first quarter, HoldingsChannel reports. The institutional investor bought 51,946 shares of the insurance provider’s stock, valued at approximately $10,770,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ALL. State Street Corp raised its stake in Allstate by 3.7% in the fourth quarter. State Street Corp now owns 12,297,551 shares of the insurance provider’s stock worth $2,571,600,000 after buying an additional 438,034 shares in the last quarter. GQG Partners LLC boosted its position in Allstate by 36.0% during the 4th quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock valued at $1,142,449,000 after acquiring an additional 1,452,993 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Allstate by 29.2% in the 4th quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock valued at $1,042,321,000 after acquiring an additional 1,131,172 shares during the period. Boston Partners raised its position 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 worth $654,652,000 after acquiring an additional 395,195 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its stake in shares of Allstate by 3.3% during the 2nd quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider’s stock worth $562,388,000 after purchasing an additional 88,620 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors.

Allstate Stock Up 3.3%

ALL opened at $249.84 on Friday. The company has a fifty day moving average of $227.29 and a two-hundred day moving average of $214.36. The stock has a market capitalization of $64.31 billion, a price-to-earnings ratio of 5.51, a PEG ratio of 0.42 and a beta of 0.16. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $257.67. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The firm had revenue of $16.94 billion for the quarter, compared to analysts’ expectations of $15.24 billion. During the same period last year, the firm earned $3.53 EPS. The company’s quarterly revenue was up 3.0% on a year-over-year basis. On average, research analysts expect that The Allstate Corporation will post 30.26 earnings per share for the current year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be paid a dividend of $1.08 per share. 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 is presently 9.53%.

Wall Street Analyst Weigh In

Several research firms have issued reports on ALL. Wells Fargo & Company lifted their target price on Allstate from $229.00 to $243.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Weiss Ratings reissued a “buy (a-)” rating on shares of Allstate in a research report on Thursday, June 18th. Morgan Stanley raised their price target on shares of Allstate from $215.00 to $240.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. Raymond James Financial boosted their price objective on shares of Allstate from $260.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Monday, July 6th. Finally, Atlantic Securities set a $319.00 target price on shares of Allstate in a research report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and an average price target of $254.80.

Insider Transactions at Allstate

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 shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the transaction, the insider directly owned 27,558 shares in the company, valued at approximately $5,959,968.66. This represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Andrea Redmond sold 2,225 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the transaction, the director directly owned 2,225 shares in the company, valued at approximately $451,474.75. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 22,353 shares of company stock valued at $4,851,560 in the last three months. 1.55% of the stock is currently owned by company insiders.

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.