Johnson Financial Group Inc. Has $3.77 Million Stock Holdings in The Allstate Corporation $ALL

Johnson Financial Group Inc. boosted its holdings in shares of The Allstate Corporation (NYSE:ALL) by 47.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,111 shares of the insurance provider’s stock after purchasing an additional 5,862 shares during the quarter. Johnson Financial Group Inc.’s holdings in Allstate were worth $3,774,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. MV Capital Management Inc. acquired a new position in shares of Allstate during the fourth quarter worth approximately $25,000. Dorato Capital Management bought a new stake in shares of Allstate in the fourth quarter valued at approximately $27,000. Navalign LLC acquired a new stake in shares of Allstate in the fourth quarter worth $27,000. Evolution Wealth Management Inc. grew its stake in shares of Allstate by 7,000.0% in the first 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. bought a new position in Allstate during the first quarter worth $30,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Up 1.5%

Shares of ALL stock opened at $253.73 on Tuesday. The stock has a market cap of $65.32 billion, a P/E ratio of 5.60, a price-to-earnings-growth ratio of 0.43 and a beta of 0.16. The Allstate Corporation has a one year low of $188.08 and a one year high of $257.67. The stock has a fifty day moving average price of $228.09 and a 200 day moving average price of $214.72. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter in the previous year, the company earned $3.53 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year. Analysts predict that The Allstate Corporation will post 30.4 earnings per share for the current year.

Allstate Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate’s payout ratio is 9.53%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ALL shares. HSBC cut shares of Allstate from a “buy” rating to a “hold” rating and upped their target price for the company from $244.00 to $264.00 in a research note on Monday, July 6th. Evercore set a $240.00 price objective on shares of Allstate in a report on Friday, July 10th. Morgan Stanley upped their price objective on shares of Allstate from $215.00 to $240.00 and gave the company an “equal weight” rating in a research report on Monday, July 6th. Citigroup increased their target price on shares of Allstate from $221.00 to $226.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Finally, UBS Group downgraded Allstate from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $255.00 to $261.00 in a research report on Wednesday, July 15th. Three 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 company’s stock. Based on data from MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and a consensus price target of $254.80.

Insider Activity at Allstate

In related news, COO Mario Rizzo sold 18,578 shares of the company’s stock in a transaction dated 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 owned 82,227 shares of the company’s stock, valued at $17,991,267.60. The trade was a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Andrea Redmond sold 2,225 shares of the stock in a transaction dated 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 transaction, the director directly owned 2,225 shares of the company’s stock, valued at $451,474.75. This trade represents a 50.00% decrease in their position. 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 quarter. 1.55% of the stock is owned by company insiders.

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.