Citizens Financial Group Inc. RI Acquires 638 Shares of The Allstate Co. (NYSE:ALL)

Citizens Financial Group Inc. RI lifted its holdings in shares of The Allstate Co. (NYSE:ALL) by 38.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,312 shares of the insurance provider’s stock after purchasing an additional 638 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Allstate were worth $371,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Rise Advisors LLC bought a new position in Allstate during the first quarter worth $26,000. Northwest Investment Counselors LLC bought a new stake in shares of Allstate during the 1st quarter worth about $26,000. Versant Capital Management Inc grew its stake in Allstate by 70.9% in the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after buying an additional 78 shares during the last quarter. Family Firm Inc. bought a new position in Allstate in the 2nd quarter valued at about $38,000. Finally, Frazier Financial Advisors LLC acquired a new stake in Allstate during the fourth quarter worth approximately $44,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Trading Up 0.4 %

NYSE:ALL opened at $190.99 on Thursday. The Allstate Co. has a 52 week low of $109.01 and a 52 week high of $191.56. The firm’s fifty day moving average is $178.30 and its 200-day moving average is $169.79. The firm has a market cap of $50.41 billion, a P/E ratio of 42.16, a P/E/G ratio of 1.74 and a beta of 0.48. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL) last issued 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. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The business had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $14.04 billion. During the same quarter in the prior year, the firm posted ($4.42) earnings per share. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. Equities analysts expect that The Allstate Co. will post 15.16 earnings per share for the current year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be paid a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $3.68 annualized dividend and a yield of 1.93%. Allstate’s dividend payout ratio is currently 81.24%.

Insider Buying and Selling at Allstate

In other news, insider Suren Gupta sold 45,775 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the completion of the sale, the insider now owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Elizabeth Brady sold 49,481 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the completion of 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 filing with the SEC, which is available at this hyperlink. Also, 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 transaction, the insider now directly owns 89,930 shares in the company, valued at $15,942,790.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 201,938 shares of company stock valued at $36,122,740. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Bank of America upped their target price on Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Piper Sandler increased their target price on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Wells Fargo & Company cut their price target on Allstate from $177.00 to $175.00 and set an “equal weight” rating for the company in a research note on Friday, August 16th. StockNews.com lowered Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. Finally, Roth Mkm restated a “buy” rating and issued a $200.00 price target on shares of Allstate in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.