The Allstate Corporation $ALL Shares Purchased by Candriam S.C.A.

Candriam S.C.A. boosted its stake in The Allstate Corporation (NYSE:ALL) by 45.4% during the first quarter, Holdings Channel.com reports. The institutional investor owned 195,952 shares of the insurance provider’s stock after acquiring an additional 61,172 shares during the period. Candriam S.C.A.’s holdings in Allstate were worth $40,629,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. State Street Corp lifted its position in shares of Allstate by 3.7% in the fourth quarter. State Street Corp now owns 12,297,551 shares of the insurance provider’s stock valued at $2,571,600,000 after acquiring an additional 438,034 shares in the last quarter. GQG Partners LLC boosted its stake in shares of Allstate by 36.0% during the fourth 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 during the last quarter. Franklin Resources Inc. increased its position in Allstate by 29.2% during the 4th 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 in the last quarter. Boston Partners raised its stake in Allstate by 14.9% in the 3rd quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock valued at $654,652,000 after purchasing an additional 395,195 shares during the last quarter. Finally, Raymond James Financial Inc. raised its stake in Allstate by 3.3% in the 2nd quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider’s stock valued at $562,388,000 after purchasing an additional 88,620 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Barclays raised their price target on shares of Allstate from $203.00 to $213.00 and gave the stock an “underweight” rating in a research note on Tuesday. Mizuho upped their price objective on shares of Allstate from $255.00 to $272.00 and gave the company an “outperform” rating in a research note on Thursday. Wall Street Zen upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Allstate in a research note on Thursday, June 18th. Finally, Wells Fargo & Company boosted their price target on Allstate from $229.00 to $243.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $248.26.

Allstate Price Performance

Shares of Allstate stock opened at $251.64 on Friday. The stock has a market capitalization of $64.78 billion, a P/E ratio of 5.55, 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 business’s fifty day moving average price is $224.15 and its 200 day moving average price is $213.01. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $257.67.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating the consensus estimate of $7.31 by $3.34. The business had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $3.53 EPS. As a group, research analysts anticipate that The Allstate Corporation will post 29.84 earnings per share for the current year.

Allstate Dividend Announcement

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

Insider Transactions at Allstate

In related news, COO Mario Rizzo sold 18,578 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $218.80, for a total value of $4,064,866.40. Following the completion of the sale, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $17,991,267.60. This represents a 18.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrea Redmond sold 2,225 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the transaction, the director directly owned 2,225 shares in the company, valued at $451,474.75. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 22,353 shares of company stock valued at $4,851,560 over the last 90 days. Corporate insiders own 1.55% of the company’s stock.

Trending Headlines about Allstate

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Mizuho raised its price target on Allstate to $272 from $255 and kept an outperform rating, signaling confidence that the stock still has upside from recent levels.
• Positive Sentiment: Several recent articles argued that Allstate looks undervalued after earnings and may benefit from a relatively favorable catastrophe year, which could help underwriting results and profits.
• Neutral Sentiment: Allstate declared a quarterly dividend of $1.08 per share, reinforcing shareholder returns but not necessarily changing the near-term trading story.
• Neutral Sentiment: Comparative coverage versus Progressive and other insurance peers kept attention on Allstate’s valuation, but this was more of a relative-stock discussion than a direct catalyst.
• Negative Sentiment: Oklahoma Attorney General Gentner Drummond sued Allstate, alleging the insurer defrauded customers, adding a fresh legal overhang that could raise compliance and settlement concerns. Article Title
• Negative Sentiment: Allstate also drew attention after accusing Broadcom of auditing it because it ended its VMware/CA relationship, another sign of ongoing legal or contractual friction. Article Title

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.