30,470 Shares in The Allstate Corporation $ALL Purchased by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC acquired a new stake in The Allstate Corporation (NYSE:ALL) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 30,470 shares of the insurance provider’s stock, valued at approximately $7,355,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC lifted its holdings in Allstate by 60.2% during the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock worth $1,253,000 after buying an additional 2,443 shares in the last quarter. Revolve Wealth Partners LLC acquired a new position in shares of Allstate during the fourth quarter valued at $231,000. WINTON GROUP Ltd acquired a new position in shares of Allstate during the second quarter valued at $210,000. Treasurer of the State of North Carolina boosted its holdings 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 acquiring an additional 3,051 shares during the last quarter. Finally, Ieq Capital LLC raised its holdings in Allstate by 20.1% during the 2nd quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider’s stock worth $7,713,000 after purchasing an additional 6,412 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Performance

ALL stock opened at $260.35 on Tuesday. The Allstate Corporation has a 1-year low of $188.08 and a 1-year 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 firm has a market cap of $65.83 billion, a PE ratio of 5.20, a P/E/G ratio of 0.39 and a beta of 0.16. The business’s 50-day moving average price is $251.11 and its two-hundred day moving average price is $225.53.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, topping 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 company had revenue of $18.60 billion for the quarter, compared to analyst estimates of $15.46 billion. During the same quarter last year, the firm posted $5.94 earnings per share. Allstate’s revenue was up 11.8% compared to the same quarter last year. As a group, research analysts forecast that The Allstate Corporation will post 34.45 earnings per share for the current year.

Allstate Announces Dividend

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

Analysts Set New Price Targets

ALL has been the subject of several analyst reports. Raymond James Financial reiterated a “strong-buy” rating and set a $315.00 price target on shares of Allstate in a research report on Tuesday, August 11th. Atlantic Securities set a $319.00 target price on shares of Allstate in a report on Wednesday, July 15th. Morgan Stanley set a $265.00 price target on Allstate in a research note on Tuesday, August 11th. Mizuho lifted their price objective on Allstate from $255.00 to $272.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. Finally, Cantor Fitzgerald increased their target price on Allstate from $236.00 to $242.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Four investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $265.26.

Insider Transactions at Allstate

In other news, Director Andrea Redmond sold 2,225 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the completion of the sale, the director 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John E. Dugenske sold 32,996 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the completion of the transaction, the insider directly owned 13,054 shares of the company’s stock, valued at approximately $3,515,833.82. The trade was a 71.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 91,446 shares of company stock valued at $24,208,675 over the last quarter. Corporate insiders own 1.55% of the company’s stock.

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.