Empowered Funds LLC Invests $12.04 Million in The Allstate Corporation $ALL

Empowered Funds LLC acquired a new position in shares of The Allstate Corporation (NYSE:ALL) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 50,587 shares of the insurance provider’s stock, valued at approximately $12,037,000.

A number of other institutional investors have also recently bought and sold shares of ALL. MV Capital Management Inc. acquired a new position in Allstate in the 4th quarter worth about $25,000. Gables Capital Management Inc. acquired a new stake in shares of Allstate during the 2nd quarter valued at about $26,000. Navalign LLC acquired a new stake in shares of Allstate during the 4th quarter valued at about $27,000. Kelleher Financial Advisors bought a new stake in shares of Allstate in the 2nd quarter valued at approximately $28,000. Finally, Evolution Wealth Management Inc. grew its stake in shares of Allstate by 7,000.0% in the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock valued at $29,000 after buying an additional 140 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insiders Place Their Bets

In other Allstate news, Director Andrea Redmond sold 2,225 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the transaction, the director directly owned 2,225 shares of the company’s stock, valued at approximately $451,474.75. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John E. Dugenske sold 32,996 shares of the firm’s stock in a transaction dated 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 sale, the insider directly owned 13,054 shares in the company, valued at approximately $3,515,833.82. This represents a 71.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 91,446 shares of company stock worth $24,208,675. Corporate insiders own 1.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ALL. Barclays boosted their target price on shares of Allstate from $213.00 to $226.00 and gave the stock an “underweight” rating in a research note on Thursday, August 6th. The Goldman Sachs Group restated a “neutral” rating and issued a $280.00 price objective on shares of Allstate in a research report on Friday, August 7th. Argus set a $238.00 price objective on Allstate in a report on Friday. Mizuho upped their target price on shares of Allstate from $255.00 to $272.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Finally, HSBC lowered shares of Allstate from a “buy” rating to a “hold” rating and raised their target price for the company from $244.00 to $264.00 in a research note on Monday, July 6th. Four research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $263.90.

Allstate Stock Up 1.4%

Shares of NYSE ALL opened at $261.17 on Friday. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $277.22. 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 stock has a market cap of $66.04 billion, a P/E ratio of 5.22, a P/E/G ratio of 0.40 and a beta of 0.16. The firm has a 50 day moving average price of $254.14 and a 200 day moving average price of $226.81.

Allstate (NYSE:ALL) last posted 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. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The company had revenue of $18.60 billion for the quarter, compared to analyst estimates of $15.46 billion. During the same period last year, the business posted $5.94 earnings per share. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. Analysts expect that The Allstate Corporation will post 34.45 EPS for the current year.

Allstate Announces Dividend

The firm 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 dividend of $1.08 per share. The ex-dividend date is Monday, August 31st. This represents a $4.32 annualized dividend and a yield of 1.7%. Allstate’s payout ratio is currently 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.