Meeder Advisory Services Inc. Acquires New Position in The Allstate Corporation $ALL

Meeder Advisory Services Inc. acquired a new position in shares of The Allstate Corporation (NYSE:ALL) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,020 shares of the insurance provider’s stock, valued at approximately $1,670,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Brighton Jones LLC lifted its holdings in shares of Allstate by 60.2% in the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock worth $1,253,000 after purchasing an additional 2,443 shares during the last quarter. Revolve Wealth Partners LLC bought a new position in Allstate during the 4th quarter worth $231,000. WINTON GROUP Ltd acquired a new stake in Allstate in the second quarter worth $210,000. Treasurer of the State of North Carolina lifted its stake in Allstate by 2.5% in the second quarter. Treasurer of the State of North Carolina now owns 123,272 shares of the insurance provider’s stock valued at $24,816,000 after buying an additional 3,051 shares during the last quarter. Finally, Ieq Capital LLC lifted its stake in Allstate by 20.1% in the second quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider’s stock valued at $7,713,000 after buying an additional 6,412 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Atlantic Securities set a $319.00 price target on shares of Allstate in a research report on Wednesday, July 15th. Mizuho boosted their target price on shares of Allstate from $255.00 to $272.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Cantor Fitzgerald upped their target price on shares of Allstate from $236.00 to $242.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $315.00 price target on shares of Allstate in a report on Tuesday, August 11th. Finally, Morgan Stanley set a $265.00 price objective on Allstate in a report on Tuesday, August 11th. Four research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Allstate presently has a consensus rating of “Hold” and a consensus target price of $265.53.

Allstate Stock Down 0.3%

Allstate stock opened at $260.24 on Thursday. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $277.22. The stock has a market cap of $65.80 billion, a price-to-earnings ratio of 5.20, a PEG ratio of 0.40 and a beta of 0.16. The company’s 50-day moving average price is $249.00 and its two-hundred day moving average price is $224.35. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24.

Allstate (NYSE:ALL) last issued its quarterly earnings results 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. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The firm had revenue of $15.43 billion during the quarter, compared to analyst estimates of $15.46 billion. During the same period last year, the company posted $5.94 EPS. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. On average, analysts expect that The Allstate Corporation will post 34.5 EPS for the current fiscal year.

Allstate Dividend Announcement

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

Insider Activity

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the transaction, the insider owned 27,558 shares of the company’s stock, valued at $5,959,968.66. The trade was a 5.32% decrease in their position. 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 company’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 owned 2,225 shares in the company, valued at $451,474.75. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 92,996 shares of company stock valued at $24,543,894. 1.55% of the stock is currently owned by insiders.

Allstate Company 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.