HighPoint Advisor Group LLC Acquires New Stake in The Allstate Co. (NYSE:ALL)

HighPoint Advisor Group LLC bought a new stake in shares of The Allstate Co. (NYSE:ALL) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 32,462 shares of the insurance provider’s stock, valued at approximately $4,544,000.

Other institutional investors also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale raised its position in Allstate by 19.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 224,773 shares of the insurance provider’s stock valued at $24,987,000 after purchasing an additional 36,885 shares in the last quarter. Rafferty Asset Management LLC increased its position in shares of Allstate by 4.1% in the 3rd quarter. Rafferty Asset Management LLC now owns 87,766 shares of the insurance provider’s stock valued at $9,778,000 after purchasing an additional 3,431 shares during the last quarter. QRG Capital Management Inc. purchased a new stake in shares of Allstate in the 3rd quarter valued at approximately $2,389,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Allstate during the third quarter worth $5,019,000. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Allstate by 9.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 271,032 shares of the insurance provider’s stock valued at $30,196,000 after acquiring an additional 23,926 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ALL. Morgan Stanley boosted their price objective on Allstate from $187.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Piper Sandler boosted their price objective on shares of Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Roth Mkm boosted their price objective on shares of Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, April 8th. StockNews.com downgraded Allstate from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 3rd. Finally, Evercore ISI boosted their target price on Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.59.

Allstate Stock Performance

NYSE:ALL traded down $0.60 during mid-day trading on Tuesday, hitting $158.14. The stock had a trading volume of 155,858 shares, compared to its average volume of 1,586,793. The Allstate Co. has a 52 week low of $100.57 and a 52 week high of $177.37. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $41.74 billion, a price-to-earnings ratio of 35.04, a P/E/G ratio of 1.48 and a beta of 0.50. The company has a 50 day simple moving average of $167.08 and a 200-day simple moving average of $158.90.

Allstate (NYSE:ALL) last released its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, beating analysts’ consensus estimates of $4.11 by $1.02. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The company had revenue of $15.26 billion for the quarter, compared to analysts’ expectations of $12.76 billion. During the same quarter in the previous year, the company posted ($1.30) earnings per share. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, research analysts expect that The Allstate Co. will post 15.13 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, May 31st will be issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Friday, May 31st. Allstate’s dividend payout ratio (DPR) is presently 81.24%.

Insider Activity at Allstate

In other news, insider John E. Dugenske sold 31,000 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total value of $5,276,200.00. Following the completion of the sale, the insider now owns 63,731 shares in the company, valued at $10,847,016.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.80% of the company’s stock.

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.