Plato Investment Management Ltd Buys Shares of 5,669 The Allstate Corporation $ALL

Plato Investment Management Ltd purchased a new position in The Allstate Corporation (NYSE:ALL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,669 shares of the insurance provider’s stock, valued at approximately $1,341,000.

Several other large investors have also recently made changes to their positions in ALL. Bell Investment Advisors Inc acquired a new stake in Allstate during the 2nd quarter worth $68,000. AMG National Trust Bank purchased a new position in shares of Allstate in the second quarter worth about $2,060,000. Simplicity Wealth LLC acquired a new position in Allstate during the second quarter worth about $790,000. Baxter Bros Inc. acquired a new position in Allstate during the second quarter worth about $1,400,000. Finally, Uniting Wealth Partners LLC purchased a new stake in Allstate during the 2nd quarter valued at about $256,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Evercore set a $240.00 price objective on shares of Allstate in a report on Friday, July 10th. HSBC lowered Allstate from a “buy” rating to a “hold” rating and raised their price target for the stock from $244.00 to $264.00 in a research report on Monday, July 6th. Atlantic Securities set a $319.00 price objective on shares of Allstate in a research note on Wednesday, July 15th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $280.00 target price on shares of Allstate in a research note on Friday, August 7th. Finally, Barclays increased their target price on shares of Allstate from $213.00 to $226.00 and gave the stock an “underweight” rating in a report on Thursday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $265.53.

Insider Activity at Allstate

In related news, COO Mario Rizzo sold 56,225 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the transaction, the chief operating officer owned 82,227 shares in the company, valued at $21,747,396.96. This trade represents a 40.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John E. Dugenske sold 32,996 shares of the business’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 value of $8,886,812.68. Following the completion of the sale, the insider owned 13,054 shares of the company’s stock, valued at approximately $3,515,833.82. This represents a 71.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 92,996 shares of company stock worth $24,543,894. Insiders own 1.55% of the company’s stock.

Allstate Stock Down 1.4%

Allstate stock opened at $257.88 on Tuesday. The stock’s fifty day moving average is $247.38 and its two-hundred day moving average is $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. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $277.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, topping the consensus estimate of $6.06 by $2.93. The business had revenue of $15.43 billion for the quarter, compared to analyst estimates of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the company earned $5.94 EPS. On average, sell-side analysts expect that The Allstate Corporation will post 33.92 EPS for the current fiscal year.

Allstate Dividend Announcement

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