28,835 Shares in The Allstate Corporation $ALL Purchased by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp purchased a new position in shares of The Allstate Corporation (NYSE:ALL) during the second quarter, Holdings Channel reports. The firm purchased 28,835 shares of the insurance provider’s stock, valued at approximately $6,861,000.

Several other institutional investors also recently bought and sold shares of ALL. BlackRock Inc. purchased a new stake in Allstate in the 2nd quarter worth $5,439,448,000. State Street Corp lifted its holdings in Allstate by 3.7% during the fourth quarter. State Street Corp now owns 12,297,551 shares of the insurance provider’s stock valued at $2,571,600,000 after purchasing an additional 438,034 shares in the last quarter. Bank of America Corp DE lifted its holdings in Allstate by 8.1% during the first 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 purchasing an additional 596,321 shares in the last quarter. GQG Partners LLC grew its position in shares of Allstate by 36.0% in the fourth quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock valued at $1,142,449,000 after purchasing an additional 1,452,993 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of Allstate by 29.2% in the fourth quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock valued at $1,042,321,000 after purchasing an additional 1,131,172 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Andrea Redmond sold 2,225 shares of Allstate 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 transaction, the director owned 2,225 shares in the company, valued at approximately $451,474.75. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John E. Dugenske sold 32,996 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $269.33, for a total value of $8,886,812.68. Following the transaction, the insider directly owned 13,054 shares in the company, valued at $3,515,833.82. This trade represents a 71.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 91,446 shares of company stock worth $24,208,675 over the last ninety days. Corporate insiders own 1.55% of the company’s stock.

Allstate Price Performance

Shares of NYSE ALL opened at $260.35 on Tuesday. The firm has a 50-day simple moving average of $251.11 and a 200-day simple moving average of $225.53. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $65.83 billion, a price-to-earnings ratio of 5.20, a price-to-earnings-growth ratio of 0.39 and a beta of 0.16. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $277.22.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.06 by $2.93. The company had revenue of $18.60 billion during the quarter, compared to analysts’ expectations of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. Allstate’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.94 EPS. On average, equities analysts predict that The Allstate Corporation will post 34.45 earnings per share for the current fiscal year.

Allstate Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Allstate from $282.00 to $292.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. HSBC cut Allstate from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $244.00 to $264.00 in a report on Monday, July 6th. Wells Fargo & Company lowered Allstate from an “equal weight” rating to an “underweight” rating and boosted their price objective for the stock from $243.00 to $250.00 in a research note on Friday, August 7th. Piper Sandler increased their target price on Allstate from $268.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, August 10th. Finally, Citigroup downgraded Allstate from a “neutral” rating to a “sell” rating and raised their target price for the company from $226.00 to $240.00 in a research report on Tuesday, August 11th. Four equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $265.26.

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.