JNB Advisors LLC raised its position in Allstate Corp (NYSE:ALL) by 2.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,908 shares of the insurance provider’s stock after acquiring an additional 1,351 shares during the quarter. Allstate makes up about 1.4% of JNB Advisors LLC’s holdings, making the stock its 24th biggest holding. JNB Advisors LLC’s holdings in Allstate were worth $6,004,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Deutsche Bank AG grew its holdings in Allstate by 109.5% during the 1st quarter. Deutsche Bank AG now owns 2,987,166 shares of the insurance provider’s stock worth $274,013,000 after acquiring an additional 1,561,512 shares in the last quarter. First Trust Advisors LP increased its holdings in Allstate by 196.0% in the second quarter. First Trust Advisors LP now owns 1,881,129 shares of the insurance provider’s stock valued at $182,451,000 after buying an additional 1,245,647 shares during the last quarter. APG Asset Management N.V. raised its stake in Allstate by 43.4% during the first quarter. APG Asset Management N.V. now owns 3,631,036 shares of the insurance provider’s stock valued at $304,556,000 after buying an additional 1,098,764 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in Allstate by 23.7% during the 1st quarter. Nuveen Asset Management LLC now owns 1,879,011 shares of the insurance provider’s stock worth $172,362,000 after buying an additional 360,615 shares during the last quarter. Finally, Balyasny Asset Management LLC acquired a new position in shares of Allstate in the 1st quarter worth approximately $28,720,000. Institutional investors own 76.53% of the company’s stock.
Several brokerages recently issued reports on ALL. Deutsche Bank raised their price objective on Allstate from $115.00 to $120.00 and gave the stock a “hold” rating in a research note on Friday, May 15th. TheStreet raised shares of Allstate from a “c+” rating to a “b-” rating in a report on Tuesday, April 21st. Piper Sandler raised their target price on shares of Allstate from $90.00 to $101.00 and gave the stock an “overweight” rating in a report on Monday, April 6th. Morgan Stanley lowered their target price on Allstate from $115.00 to $105.00 and set an “equal weight” rating for the company in a report on Wednesday, July 15th. Finally, Raymond James raised their price target on Allstate from $110.00 to $120.00 and gave the stock a “strong-buy” rating in a report on Tuesday, April 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $115.47.
Allstate (NYSE:ALL) last issued its quarterly earnings results on Tuesday, May 5th. The insurance provider reported $3.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.62. The firm had revenue of $9.24 billion during the quarter, compared to analyst estimates of $9.64 billion. Allstate had a return on equity of 17.53% and a net margin of 9.38%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the company posted $2.30 EPS. As a group, analysts predict that Allstate Corp will post 10.94 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, August 28th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.29%. The ex-dividend date is Thursday, August 27th. Allstate’s dividend payout ratio (DPR) is presently 20.71%.
In related news, CFO Mario Rizzo sold 6,670 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $101.39, for a total transaction of $676,271.30. Following the completion of the sale, the chief financial officer now directly owns 28,235 shares in the company, valued at $2,862,746.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Judith A. Sprieser sold 1,783 shares of Allstate stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $99.03, for a total transaction of $176,570.49. Following the completion of the transaction, the director now owns 1,783 shares in the company, valued at approximately $176,570.49. The disclosure for this sale can be found here. Insiders sold a total of 664,021 shares of company stock valued at $67,275,235 over the last three months. 1.80% of the stock is owned by corporate insiders.
Allstate Company Profile
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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