10,277 Shares in The Allstate Corporation $ALL Bought by Harvest Investment Advisors LLC

Harvest Investment Advisors LLC purchased a new position in The Allstate Corporation (NYSE:ALL) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,277 shares of the insurance provider’s stock, valued at approximately $2,139,000. Allstate accounts for about 1.2% of Harvest Investment Advisors LLC’s investment portfolio, making the stock its 25th largest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp grew 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 purchasing an additional 438,034 shares during the period. GQG Partners LLC grew its stake in Allstate by 36.0% in the fourth quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock worth $1,142,449,000 after purchasing an additional 1,452,993 shares during the period. Franklin Resources Inc. grew its stake in Allstate by 29.2% in the fourth quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock worth $1,042,321,000 after purchasing an additional 1,131,172 shares during the period. Boston Partners grew its stake in Allstate by 14.9% in the third quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock worth $654,652,000 after purchasing an additional 395,195 shares during the period. Finally, Raymond James Financial Inc. grew its stake in Allstate by 3.3% in the second 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 period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $260.00 price target on shares of Allstate in a research note on Tuesday, March 3rd. The Goldman Sachs Group reissued a “neutral” rating and issued a $231.00 target price on shares of Allstate in a report on Thursday, March 5th. Weiss Ratings raised Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, March 23rd. Piper Sandler reissued an “overweight” rating on shares of Allstate in a report on Thursday, May 28th. Finally, Zacks Research downgraded Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $240.33.

Allstate Trading Up 0.7%

Allstate stock opened at $223.35 on Wednesday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The business’s fifty day simple moving average is $215.29 and its two-hundred day simple moving average is $209.04. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $227.62. The company has a market capitalization of $57.49 billion, a price-to-earnings ratio of 4.93, a price-to-earnings-growth ratio of 0.40 and a beta of 0.19.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping 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 business had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the previous year, the company posted $3.53 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities analysts predict that The Allstate Corporation will post 29.43 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, June 1st. Allstate’s dividend payout ratio is presently 9.53%.

Insider Activity

In other news, Director Andrea Redmond sold 2,225 shares of the company’s stock in a transaction on Monday, June 1st. The stock was 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 of the company’s stock, valued at $451,474.75. This represents a 50.00% 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, COO Mario Rizzo sold 18,578 shares of the company’s stock in a transaction 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 transaction, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $17,991,267.60. The trade was a 18.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 22,353 shares of company stock valued at $4,851,560 over the last ninety days. 1.55% of the stock is currently owned by corporate insiders.

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.