Meridian Investment Counsel Inc. Buys Shares of 2,712 The Allstate Corporation $ALL

Meridian Investment Counsel Inc. purchased a new position in The Allstate Corporation (NYSE:ALL) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,712 shares of the insurance provider’s stock, valued at approximately $562,000.

Several other large investors also recently made changes to their positions in ALL. MV Capital Management Inc. bought a new position in shares of Allstate in the 4th quarter valued at approximately $25,000. Dorato Capital Management bought a new stake in Allstate during the fourth quarter worth approximately $27,000. Navalign LLC bought a new stake in Allstate during the fourth quarter worth approximately $27,000. Evolution Wealth Management Inc. grew its holdings in Allstate by 7,000.0% during the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 140 shares during the last quarter. Finally, Princeton Global Asset Management LLC grew its holdings in Allstate by 101.3% during the fourth quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 76 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

Allstate Trading Down 0.2%

Shares of Allstate stock opened at $249.84 on Monday. The company’s fifty day simple moving average is $220.59 and its 200-day simple moving average is $211.53. The company has a market cap of $64.31 billion, a price-to-earnings ratio of 5.51, a PEG ratio of 0.44 and a beta of 0.16. 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 Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $250.38.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, beating the consensus estimate of $7.31 by $3.34. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The firm had revenue of $16.94 billion during the quarter, compared to analysts’ expectations of $15.24 billion. During the same period in the prior year, the company earned $3.53 EPS. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, sell-side analysts expect that The Allstate Corporation will post 29.75 EPS for the current year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were given a dividend of $1.08 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.7%. Allstate’s dividend payout ratio is currently 9.53%.

Wall Street Analyst Weigh In

ALL has been the subject of a number of analyst reports. Weiss Ratings restated a “buy (a-)” rating on shares of Allstate in a research note on Thursday, June 18th. Wall Street Zen upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research note on Saturday. Keefe, Bruyette & Woods downgraded shares of Allstate from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $266.00 to $242.00 in a report on Monday, June 8th. Piper Sandler restated an “overweight” rating on shares of Allstate in a report on Thursday, May 28th. Finally, Wells Fargo & Company raised their price target on Allstate from $229.00 to $243.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Three research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and an average price target of $240.33.

Insider Activity at Allstate

In related news, COO Mario Rizzo sold 18,578 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the transaction, the chief operating officer directly owned 82,227 shares in the company, valued at $17,991,267.60. The trade was a 18.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark Q. Prindiville sold 1,550 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the sale, the insider owned 27,558 shares of the company’s stock, valued at $5,959,968.66. This represents a 5.32% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 22,353 shares of company stock worth $4,851,560. Company insiders own 1.55% of the company’s stock.

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.