Several hedge funds and institutional investors have recently adjusted their investments in Allstate. Rise Advisors LLC and Northwest Investment Counselors LLC each bought new shares worth about $26,000 in the first quarter. Versant Capital Management Inc increased its holdings by 70.9%, now owning 188 shares worth $30,000 after buying an additional 78 shares. Family Firm Inc spent $38,000 on new shares in the second quarter, and MCF Advisors LLC raised its stake by 33.9%, now owning 332 shares valued at $53,000. Overall, 76.47% of Allstate’s stock is held by institutional investors.
Allstate Stock Down 4.9%
Allstate’s stock opened at $181.18 recently. The company has a market cap of $47.82 billion and a P/E ratio of 40.00. Its 50-day moving average is $183.18, and its 52-week range is between $112.42 and $193.97.
Allstate reported earnings of $1.61 per share for the quarter ending July 31, significantly beating analysts expectations of $0.33. Revenue was $15.71 billion, exceeding forecasts of $14.04 billion, and showed a year-over-year increase of 12.4%. Analysts predict earnings of $15.2 per share for the current fiscal year.
Allstate Announces Dividend
Allstate recently paid a quarterly dividend of $0.92 per share on October 1. The annualized dividend is $3.68, yielding 2.03%, with a dividend payout ratio of 81.24%.
Insider Activity at Allstate
Insider John E. Dugenske sold 36,367 shares for approximately $6.96 million on September 20. After the sale, he still holds 27,364 shares worth about $5.24 million. Another executive, Robert Toohey, sold 16,682 shares for about $3 million. Overall, insiders sold 238,305 shares valued at $43.08 million in the last 90 days, holding 1.80% of the company’s stock.
Analyst Ratings Changes
Analysts are closely watching Allstate. Morgan Stanley lowered its price target from $205 to $200 but maintains an “overweight” rating. Raymond James raised its target from $205 to $220, giving it a “strong-buy” rating. Overall, analysts rate Allstate as a “Moderate Buy” with a consensus target price of $195.12.
Read Our Latest Stock Analysis on Allstate
About Allstate
Allstate Corporation provides insurance products across the U.S. and Canada, operating in various segments, including property and casualty and health benefits.
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