Choreo LLC Purchases 4,848 Shares of The Allstate Co. (NYSE:ALL)

Choreo LLC boosted its position in shares of The Allstate Co. (NYSE:ALL) by 258.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,725 shares of the insurance provider’s stock after acquiring an additional 4,848 shares during the period. Choreo LLC’s holdings in Allstate were worth $1,079,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Wedbush Securities Inc. increased its holdings in shares of Allstate by 2.5% in the second quarter. Wedbush Securities Inc. now owns 7,656 shares of the insurance provider’s stock worth $1,222,000 after purchasing an additional 187 shares during the period. Prudential PLC grew its position in Allstate by 46.6% during the second quarter. Prudential PLC now owns 4,285 shares of the insurance provider’s stock worth $684,000 after buying an additional 1,363 shares in the last quarter. Quest Partners LLC grew its position in Allstate by 63.5% during the second quarter. Quest Partners LLC now owns 12,423 shares of the insurance provider’s stock worth $1,983,000 after buying an additional 4,825 shares in the last quarter. Oak Thistle LLC bought a new position in Allstate in the 2nd quarter worth about $986,000. Finally, Mount Lucas Management LP purchased a new stake in shares of Allstate in the 2nd quarter valued at about $501,000. Institutional investors own 76.47% of the company’s stock.

Insider Buying and Selling

In other Allstate 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 transaction of $16,140,600.00. Following the completion of the transaction, the chief executive officer now owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Elizabeth Brady sold 49,481 shares of Allstate stock in a transaction on Friday, August 16th. The shares were sold at an average price of $179.09, for a total value of $8,861,552.29. Following the sale, the executive vice president now owns 19,163 shares in the company, valued at $3,431,901.67. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the transaction, the chief executive officer now directly owns 88,552 shares in the company, valued at $15,880,915.68. The disclosure for this sale can be found here. Insiders have sold 201,938 shares of company stock valued at $36,122,740 over the last ninety days. 1.80% of the stock is owned by insiders.

Allstate Price Performance

Shares of Allstate stock opened at $186.10 on Friday. The stock has a market capitalization of $49.11 billion, a P/E ratio of 41.08, a price-to-earnings-growth ratio of 1.75 and a beta of 0.48. The Allstate Co. has a one year low of $108.12 and a one year high of $191.33. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. The business’s 50 day simple moving average is $175.83 and its two-hundred day simple moving average is $168.85.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. The company had revenue of $15.71 billion during the quarter, compared to analyst estimates of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The firm’s revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($4.42) EPS. Analysts forecast that The Allstate Co. will post 15.16 EPS for the current year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be issued a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.98%. Allstate’s dividend payout ratio is currently 81.24%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wells Fargo & Company cut 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. StockNews.com cut shares of Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. BMO Capital Markets raised their price objective on shares of Allstate from $191.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Roth Mkm reaffirmed a “buy” rating and set a $200.00 price objective on shares of Allstate in a report on Wednesday, August 14th. Finally, Piper Sandler increased their target price on Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.76.

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.