Sei Investments Co. Buys 12,335 Shares of The Allstate Corporation $ALL

Sei Investments Co. raised its position in shares of The Allstate Corporation (NYSE:ALL) by 4.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 293,430 shares of the insurance provider’s stock after purchasing an additional 12,335 shares during the period. Sei Investments Co.’s holdings in Allstate were worth $60,838,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. MV Capital Management Inc. bought a new stake in shares of Allstate in the fourth quarter valued at $25,000. Dorato Capital Management bought a new position in shares of Allstate during the 4th quarter worth $27,000. Navalign LLC bought a new position in shares of Allstate during the 4th quarter worth $27,000. Evolution Wealth Management Inc. increased its holdings in Allstate by 7,000.0% in the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 140 shares during the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Allstate in the 1st quarter worth about $30,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Mario Rizzo sold 18,578 shares of the firm’s stock in a transaction that occurred on 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 $17,991,267.60. This trade represents a 18.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction that occurred 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 sale, the insider owned 27,558 shares of the company’s stock, 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. In the last 90 days, insiders sold 22,353 shares of company stock worth $4,851,560. 1.55% of the stock is currently owned by insiders.

Allstate Trading Up 2.2%

Allstate stock opened at $260.16 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $260.65. The stock has a market cap of $66.97 billion, a P/E ratio of 5.74, a PEG ratio of 0.45 and a beta of 0.16. The firm’s fifty day moving average price is $231.16 and its 200-day moving average price is $216.00.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same quarter last year, the company earned $3.53 earnings per share. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. Equities research analysts forecast that The Allstate Corporation will post 30.51 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate’s dividend payout ratio (DPR) is 9.53%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Zacks Research downgraded shares of Allstate from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. HSBC cut shares of Allstate from a “buy” rating to a “hold” rating and upped their price target for the company from $244.00 to $264.00 in a research note on Monday, July 6th. Atlantic Securities set a $319.00 price objective on shares of Allstate in a report on Wednesday, July 15th. Cantor Fitzgerald lifted their price objective on shares of Allstate from $236.00 to $242.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Finally, Piper Sandler reissued an “overweight” rating on shares of Allstate in a report on Thursday, May 28th. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.80.

Allstate 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.