Trust Co. of Vermont Buys Shares of 23,674 The Allstate Corporation $ALL

Trust Co. of Vermont bought a new position in The Allstate Corporation (NYSE:ALL) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 23,674 shares of the insurance provider’s stock, valued at approximately $5,633,000.

Several other hedge funds have also recently modified their holdings of ALL. Principle Wealth Partners LLC bought a new position in shares of Allstate during the second quarter valued at $5,986,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Allstate in the 2nd quarter worth about $150,525,000. OneDigital Investment Advisors LLC bought a new stake in Allstate in the 2nd quarter worth about $1,808,000. Plato Investment Management Ltd purchased a new position in Allstate in the 2nd quarter worth about $1,341,000. Finally, Bell Investment Advisors Inc bought a new position in Allstate during the 2nd quarter valued at about $68,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Stock Down 1.4%

NYSE ALL opened at $257.88 on Tuesday. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $277.22. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $65.21 billion, a P/E ratio of 5.15, a price-to-earnings-growth ratio of 0.41 and a beta of 0.16. The stock’s 50-day moving average price is $247.38 and its 200-day moving average price is $223.47.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.06 by $2.93. The company had revenue of $15.43 billion during the quarter, compared to the consensus estimate of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The firm’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the company posted $5.94 EPS. On average, equities research analysts predict that The Allstate Corporation will post 33.92 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be issued a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 annualized dividend and a yield of 1.7%. Allstate’s payout ratio is currently 8.63%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ALL. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $280.00 price target on shares of Allstate in a report on Friday, August 7th. Piper Sandler boosted their price objective on shares of Allstate from $268.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, August 10th. Morgan Stanley set a $265.00 price objective on shares of Allstate in a research report on Tuesday, August 11th. JPMorgan Chase & Co. raised their target price on shares of Allstate from $282.00 to $292.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen raised shares of Allstate from a “hold” rating to a “buy” rating in a research report on Monday, July 20th. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $265.53.

Insider Activity

In other news, COO Mario Rizzo sold 56,225 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total value of $14,870,388.00. Following the completion of the sale, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at $21,747,396.96. This represents a 40.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Andrea Redmond sold 2,225 shares of the 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 completion of the sale, the director directly owned 2,225 shares of the company’s stock, valued at approximately $451,474.75. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 92,996 shares of company stock valued at $24,543,894. 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.