Wolf Group Capital Advisors Purchases New Stake in The Allstate Co. (NYSE:ALL)

Wolf Group Capital Advisors acquired a new position in shares of The Allstate Co. (NYSE:ALL) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 1,585 shares of the insurance provider’s stock, valued at approximately $253,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in Allstate by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 5,112,468 shares of the insurance provider’s stock valued at $884,508,000 after acquiring an additional 90,390 shares during the last quarter. Norges Bank bought a new position in Allstate in the fourth quarter valued at about $212,771,000. Raymond James Financial Services Advisors Inc. raised its stake in Allstate by 1.0% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 818,489 shares of the insurance provider’s stock worth $130,680,000 after acquiring an additional 8,454 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Allstate by 11.8% during the first quarter. Russell Investments Group Ltd. now owns 716,757 shares of the insurance provider’s stock worth $123,574,000 after acquiring an additional 75,698 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Allstate by 1.0% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 687,386 shares of the insurance provider’s stock valued at $118,925,000 after purchasing an additional 6,760 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Robert Toohey sold 16,682 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $180.17, for a total value of $3,005,595.94. Following the completion of the sale, the executive vice president now directly owns 4,873 shares of the company’s stock, valued at approximately $877,968.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Allstate news, EVP Robert Toohey sold 16,682 shares of Allstate stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $180.17, for a total value of $3,005,595.94. Following the sale, the executive vice president now owns 4,873 shares of the company’s stock, valued at $877,968.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Thomas J. Wilson sold 90,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the sale, the chief executive officer now owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. The disclosure for this sale can be found here. Insiders have sold 201,938 shares of company stock worth $36,122,740 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Allstate Price Performance

ALL stock opened at $188.95 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. The company’s 50-day moving average is $170.45 and its 200-day moving average is $166.99. The stock has a market capitalization of $49.87 billion, a PE ratio of 41.71, a price-to-earnings-growth ratio of 1.86 and a beta of 0.48. The Allstate Co. has a 1 year low of $105.57 and a 1 year high of $189.26.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $1.28. The company had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.04 billion. Allstate had a return on equity of 24.05% and a net margin of 5.03%. Allstate’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($4.42) earnings per share. Equities research analysts expect that The Allstate Co. will post 13.64 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Friday, August 30th. Allstate’s dividend payout ratio is currently 81.24%.

Wall Street Analysts Forecast Growth

ALL has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of Allstate from $199.00 to $208.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. StockNews.com lowered Allstate from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 21st. Bank of America increased their target price on Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Piper Sandler raised their price objective on shares of Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Finally, The Goldman Sachs Group lifted their target price on shares of Allstate from $199.00 to $204.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $191.94.

Allstate Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.