Legal & General Group Plc Purchases Shares of 1,913,516 The Allstate Corporation $ALL

Legal & General Group Plc purchased a new stake in shares of The Allstate Corporation (NYSE:ALL) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,913,516 shares of the insurance provider’s stock, valued at approximately $455,302,000.

Several other hedge funds have also modified their holdings of ALL. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Allstate by 5.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552,120 shares of the insurance provider’s stock worth $112,533,000 after purchasing an additional 26,586 shares during the period. Strategic Global Advisors LLC raised its holdings in Allstate by 19.2% during the 4th quarter. Strategic Global Advisors LLC now owns 48,882 shares of the insurance provider’s stock worth $10,175,000 after buying an additional 7,870 shares during the period. Elevation Point Wealth Partners LLC raised its holdings in shares of Allstate by 130.9% during the first quarter. Elevation Point Wealth Partners LLC now owns 19,288 shares of the insurance provider’s stock worth $4,016,000 after acquiring an additional 10,936 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Allstate by 69.2% in the fourth quarter. CIBC Asset Management Inc now owns 63,011 shares of the insurance provider’s stock valued at $13,116,000 after purchasing an additional 25,764 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in Allstate by 8.1% in the 1st quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock valued at $1,640,748,000 after acquiring an additional 596,321 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Roth Capital set a $300.00 price target on Allstate in a research note on Thursday, August 6th. Weiss Ratings upgraded Allstate from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, August 6th. Mizuho boosted their price target on Allstate from $255.00 to $272.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. HSBC downgraded shares of Allstate from a “buy” rating to a “hold” rating and increased their price objective for the stock from $244.00 to $264.00 in a research note on Monday, July 6th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $280.00 target price on shares of Allstate in a report on Friday, August 7th. Four equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $265.26.

Insider Buying and Selling

In other Allstate news, insider John E. Dugenske sold 32,996 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were 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 owned 13,054 shares in the company, valued at approximately $3,515,833.82. This trade represents a 71.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrea Redmond sold 2,225 shares of the business’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 transaction 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 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 91,446 shares of company stock valued at $24,208,675 over the last ninety days. 1.55% of the stock is owned by company insiders.

Allstate Price Performance

ALL stock opened at $257.72 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.36 and a current ratio of 0.36. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $277.22. The company has a market capitalization of $65.17 billion, a P/E ratio of 5.15, a PEG ratio of 0.40 and a beta of 0.16. The company has a fifty day moving average price of $251.80 and a 200-day moving average price of $225.88.

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, beating analysts’ consensus estimates of $6.06 by $2.93. The business had revenue of $18.60 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%.Allstate’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the business posted $5.94 earnings per share. As a group, equities analysts expect that The Allstate Corporation will post 34.45 EPS for the current year.

Allstate Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate’s dividend payout ratio (DPR) is 8.63%.

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.