23,674 Shares in The Allstate Corporation $ALL Purchased by Trust Co. of Vermont

Trust Co. of Vermont bought a new stake in shares of The Allstate Corporation (NYSE:ALL) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 23,674 shares of the insurance provider’s stock, valued at approximately $5,633,000.

A number of other large investors also recently added to or reduced their stakes in the business. Principle Wealth Partners LLC bought a new position in Allstate in the 2nd quarter worth approximately $5,986,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Allstate during the 2nd quarter valued at approximately $150,525,000. OneDigital Investment Advisors LLC bought a new stake in shares of Allstate during the second quarter valued at approximately $1,808,000. Plato Investment Management Ltd bought a new stake in shares of Allstate during the second quarter valued at approximately $1,341,000. Finally, Bell Investment Advisors Inc purchased a new position in shares of Allstate in the second quarter worth $68,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Mark Q. Prindiville sold 1,550 shares of the 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 sale, the insider directly owned 27,558 shares in the company, valued at approximately $5,959,968.66. This represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andrea Redmond sold 2,225 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $202.91, for a total value of $451,474.75. Following the sale, 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 disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 92,996 shares of company stock worth $24,543,894. Corporate insiders own 1.55% of the company’s stock.

Analysts Set New Price Targets

ALL has been the subject of a number of research reports. Piper Sandler upped their target price on shares of Allstate from $268.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Weiss Ratings upgraded shares of Allstate from a “buy (a-)” rating to a “buy (a)” rating in a research note on Thursday, August 6th. UBS Group increased their price objective on shares of Allstate from $261.00 to $275.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Evercore set a $240.00 target price on Allstate in a research report on Friday, July 10th. Finally, JPMorgan Chase & Co. increased their price target on Allstate from $282.00 to $292.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $265.53.

Allstate Price Performance

ALL stock opened at $257.88 on Tuesday. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $277.22. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average price of $247.38 and a 200 day moving average price of $223.47. The stock has a market cap of $65.21 billion, a PE ratio of 5.15, a P/E/G ratio of 0.41 and a beta of 0.16.

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

Allstate Announces Dividend

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 paid a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.7%. Allstate’s dividend payout ratio is currently 8.63%.

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.