National Bank of Canada FI Increases Stock Holdings in The Allstate Co. (NYSE:ALL)

National Bank of Canada FI increased its holdings in shares of The Allstate Co. (NYSE:ALL) by 39.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 121,605 shares of the insurance provider’s stock after purchasing an additional 34,180 shares during the period. National Bank of Canada FI’s holdings in Allstate were worth $19,521,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Meridian Wealth Advisors LLC lifted its position in Allstate by 0.3% during the 2nd quarter. Meridian Wealth Advisors LLC now owns 32,030 shares of the insurance provider’s stock worth $5,114,000 after acquiring an additional 111 shares during the period. TD Asset Management Inc lifted its position in Allstate by 4.8% during the 2nd quarter. TD Asset Management Inc now owns 111,105 shares of the insurance provider’s stock worth $17,739,000 after acquiring an additional 5,040 shares during the period. Community Bank & Trust Waco Texas lifted its position in Allstate by 3.0% during the 2nd quarter. Community Bank & Trust Waco Texas now owns 5,115 shares of the insurance provider’s stock worth $817,000 after acquiring an additional 149 shares during the period. Larson Financial Group LLC lifted its position in Allstate by 83,500.0% during the 2nd quarter. Larson Financial Group LLC now owns 836 shares of the insurance provider’s stock worth $133,000 after acquiring an additional 835 shares during the period. Finally, Simon Quick Advisors LLC lifted its position in Allstate by 25.8% during the 2nd quarter. Simon Quick Advisors LLC now owns 1,894 shares of the insurance provider’s stock worth $302,000 after acquiring an additional 388 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Price Performance

NYSE:ALL opened at $185.36 on Friday. The Allstate Co. has a 12 month low of $105.85 and a 12 month high of $191.33. The stock has a 50 day moving average of $173.77 and a two-hundred day moving average of $168.18. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49. The firm has a market cap of $48.92 billion, a P/E ratio of 40.92, a price-to-earnings-growth ratio of 1.78 and a beta of 0.48.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, topping the consensus estimate of $0.33 by $1.28. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The company had revenue of $15.71 billion during the quarter, compared to analyst estimates of $14.04 billion. During the same period in the previous year, the business earned ($4.42) EPS. Allstate’s quarterly revenue was up 12.4% on a year-over-year basis. On average, analysts expect that The Allstate Co. will post 15.14 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be paid a dividend of $0.92 per share. The ex-dividend date is Friday, August 30th. This represents a $3.68 annualized dividend and a yield of 1.99%. Allstate’s dividend payout ratio (DPR) is currently 81.24%.

Analyst Ratings Changes

ALL has been the subject of a number of research reports. Roth Mkm reaffirmed a “buy” rating and set a $200.00 price target on shares of Allstate in a research report on Wednesday, August 14th. StockNews.com cut Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. Piper Sandler boosted their price objective on Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Keefe, Bruyette & Woods boosted their price objective on Allstate from $199.00 to $208.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Finally, Wells Fargo & Company decreased their price objective on Allstate from $177.00 to $175.00 and set an “equal weight” rating for the company in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $192.76.

Insiders Place Their Bets

In other news, CEO Thomas J. Wilson sold 90,000 shares of the company’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 value of $16,140,600.00. Following the completion of the sale, the chief executive officer now directly owns 88,552 shares in the company, valued at $15,880,915.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Suren Gupta sold 45,775 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total value of $8,114,992.00. Following the completion of the sale, the insider now directly owns 89,930 shares in the company, valued at $15,942,790.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas J. Wilson sold 90,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the sale, the chief executive officer now owns 88,552 shares of the company’s stock, valued at $15,880,915.68. The disclosure for this sale can be found here. In the last three months, insiders sold 201,938 shares of company stock worth $36,122,740. Corporate insiders own 1.80% of the company’s stock.

About Allstate

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.