Several hedge funds and institutional investors have changed their investments in Allstate. Rise Advisors LLC and Northwest Investment Counselors LLC each bought new shares worth around $26,000. Versant Capital Management Inc increased its holdings by nearly 71% and now owns shares worth about $30,000. Family Firm Inc acquired a stake worth $38,000, while MCF Advisors LLC boosted its shares by almost 34%, reaching a value of $53,000. Overall, 76.47% of Allstate’s stock is owned by large investors.
Allstate Stock Falls 4.9%
Allstate’s stock opened at $181.18 on Tuesday. Key financial metrics include a quick ratio of 0.36, a current ratio of 0.36, and a debt-to-equity ratio of 0.49. Allstate’s market cap is $47.82 billion, with a P/E ratio of 40 and a beta of 0.48. The stock has varied between a low of $112.42 and a high of $193.97 in the past year.
Allstate reported strong earnings on July 31st, with earnings per share of $1.61, exceeding expectations of $0.33. Revenue also surpassed forecasts at $15.71 billion, up 12.4% year-over-year.
Allstate Announces Dividend
Allstate declared a quarterly dividend of $0.92 per share, paid on October 1st. This amounts to an annualized dividend of $3.68 with a yield of 2.03%, putting its payout ratio at 81.24%.
Insider Sales
Insider John E. Dugenske sold 36,367 shares on September 20th for about $6.96 million. He now holds 27,364 shares. EVP Robert Toohey sold 16,682 shares on August 19th for roughly $3 million. In total, insiders have sold 238,305 shares, valued at $43 million, over the last 90 days.
Analyst Ratings
Analysts have varied opinions on Allstate. Morgan Stanley lowered its price target from $205 to $200 with an “overweight” rating. Conversely, Raymond James raised its target from $205 to $220 with a “strong buy” rating. Overall, the stock has a consensus rating of “Moderate Buy” with an average target price of $195.12.
Read Our Latest Stock Analysis on Allstate
About Allstate
The Allstate Corporation provides property, casualty, and other insurance products primarily in the U.S. and Canada.
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